Concurrent Investment Advisors LLC Has $4.11 Million Holdings in AT&T Inc. (NYSE:T)

Concurrent Investment Advisors LLC lessened its stake in AT&T Inc. (NYSE:T) by 1.9% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 233,593 shares of the technology company’s stock after selling 4,460 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in AT&T were worth $4,111,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of T. Keudell Morrison Wealth Management lifted its holdings in AT&T by 3.0% during the first quarter. Keudell Morrison Wealth Management now owns 89,219 shares of the technology company’s stock worth $1,570,000 after acquiring an additional 2,571 shares during the period. Atomi Financial Group Inc. lifted its holdings in AT&T by 19.6% during the first quarter. Atomi Financial Group Inc. now owns 101,604 shares of the technology company’s stock worth $1,788,000 after acquiring an additional 16,681 shares during the period. Allegheny Financial Group LTD lifted its holdings in AT&T by 2.5% during the first quarter. Allegheny Financial Group LTD now owns 44,203 shares of the technology company’s stock worth $778,000 after acquiring an additional 1,085 shares during the period. Redwood Wealth Management Group LLC lifted its holdings in AT&T by 3.4% during the first quarter. Redwood Wealth Management Group LLC now owns 23,958 shares of the technology company’s stock worth $422,000 after acquiring an additional 779 shares during the period. Finally, Tectonic Advisors LLC lifted its holdings in AT&T by 5.7% during the first quarter. Tectonic Advisors LLC now owns 321,722 shares of the technology company’s stock worth $5,662,000 after acquiring an additional 17,249 shares during the period. Institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

Shares of AT&T stock traded down $0.21 during trading hours on Monday, hitting $18.60. The company’s stock had a trading volume of 17,850,688 shares, compared to its average volume of 36,246,293. The business has a 50 day moving average price of $17.98 and a two-hundred day moving average price of $17.34. AT&T Inc. has a 12-month low of $13.43 and a 12-month high of $19.32. The company has a market cap of $133.37 billion, a PE ratio of 9.99, a PEG ratio of 3.55 and a beta of 0.58. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.63 and a current ratio of 0.68.

AT&T (NYSE:T) last issued its earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.02. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The firm had revenue of $30.03 billion for the quarter, compared to analysts’ expectations of $30.62 billion. During the same period in the previous year, the firm posted $0.60 earnings per share. The business’s revenue was down .4% compared to the same quarter last year. Analysts expect that AT&T Inc. will post 2.23 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be paid a dividend of $0.2775 per share. The ex-dividend date is Wednesday, July 10th. This represents a $1.11 annualized dividend and a yield of 5.97%. AT&T’s payout ratio is currently 59.68%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on T. The Goldman Sachs Group began coverage on AT&T in a research note on Monday, July 1st. They issued a “buy” rating and a $22.00 target price on the stock. Oppenheimer restated an “outperform” rating and issued a $21.00 target price on shares of AT&T in a research note on Tuesday, June 25th. Barclays upgraded AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 target price on the stock in a research note on Monday, April 29th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $18.00 price target on shares of AT&T in a research report on Wednesday, July 10th. Finally, Scotiabank lifted their price target on AT&T from $22.50 to $23.00 and gave the company a “sector outperform” rating in a research report on Wednesday, July 10th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $21.85.

About AT&T

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.