Thoroughbred Financial Services LLC Invests $205,000 in AT&T Inc. (NYSE:T)

Posted by Defense World Staff on Jul 9th, 2023

AT&T logo Thoroughbred Financial Services LLC bought a new position in shares of AT&T Inc. (NYSE:T – Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 10,656 shares of the technology company’s stock, valued at approximately $205,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Strategic Wealth Partners Ltd. boosted its holdings in shares of AT&T by 4.5% during the 1st quarter. Strategic Wealth Partners Ltd. now owns 79,326 shares of the technology company’s stock worth $1,527,000 after buying an additional 3,398 shares during the period. Paces Ferry Wealth Advisors LLC boosted its holdings in shares of AT&T by 7.6% during the 1st quarter. Paces Ferry Wealth Advisors LLC now owns 15,516 shares of the technology company’s stock worth $299,000 after buying an additional 1,094 shares during the period. D Orazio & Associates Inc. boosted its holdings in AT&T by 5.1% in the 1st quarter. D Orazio & Associates Inc. now owns 11,576 shares of the technology company’s stock valued at $223,000 after purchasing an additional 566 shares during the period. Asset Dedication LLC boosted its holdings in AT&T by 34.0% in the 1st quarter. Asset Dedication LLC now owns 50,967 shares of the technology company’s stock valued at $979,000 after purchasing an additional 12,946 shares during the period. Finally, BOK Financial Private Wealth Inc. boosted its holdings in AT&T by 25.0% in the 1st quarter. BOK Financial Private Wealth Inc. now owns 6,502 shares of the technology company’s stock valued at $125,000 after purchasing an additional 1,302 shares during the period. Institutional investors own 54.09% of the company’s stock.

AT&T Stock Up 0.1 %

Shares of NYSE T opened at $15.61 on Friday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.47 and a current ratio of 0.51. AT&T Inc. has a 52-week low of $14.46 and a 52-week high of $21.06. The firm has a 50 day moving average price of $16.14 and a two-hundred day moving average price of $18.01.

AT&T (NYSE:T – Free Report) last posted its quarterly earnings data on Thursday, April 20th. The technology company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. AT&T had a negative net margin of 7.52% and a positive return on equity of 15.47%. The company had revenue of $30.14 billion for the quarter, compared to analyst estimates of $30.22 billion. During the same period in the prior year, the firm posted $0.77 EPS. The company’s quarterly revenue was up 1.4% on a year-over-year basis. Analysts forecast that AT&T Inc. will post 2.42 earnings per share for the current year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th will be paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 7.11%. The ex-dividend date of this dividend is Friday, July 7th. AT&T’s dividend payout ratio is currently -87.40%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Moffett Nathanson raised shares of AT&T from an “underperform” rating to a “market perform” rating and set a $17.00 price objective for the company in a report on Tuesday, June 6th. StockNews.com assumed coverage on shares of AT&T in a report on Thursday, May 18th. They issued a “hold” rating for the company. JPMorgan Chase & Co. cut their price objective on shares of AT&T from $23.00 to $22.00 and set an “overweight” rating for the company in a report on Friday, April 21st. Barclays cut their price objective on shares of AT&T from $18.00 to $17.00 in a report on Thursday. Finally, TD Cowen cut their price objective on shares of AT&T from $25.00 to $23.00 and set a “market perform” rating for the company in a report on Friday, April 21st. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $21.31.

AT&T Company Profile

(Free Report)

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, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.