AT&T Inc. (NYSE:T) Stake Raised by Benedict Financial Advisors Inc.

Benedict Financial Advisors Inc. raised its stake in AT&T Inc. (NYSE:T) by 3.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 71,555 shares of the technology company’s stock after buying an additional 2,259 shares during the period. AT&T comprises approximately 1.6% of Benedict Financial Advisors Inc.’s holdings, making the stock its 22nd largest position. Benedict Financial Advisors Inc.’s holdings in AT&T were worth $2,973,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. RiverFront Investment Group LLC increased its position in AT&T by 0.3% in the first quarter. RiverFront Investment Group LLC now owns 513,842 shares of the technology company’s stock valued at $21,350,000 after buying an additional 1,614 shares during the period. Polaris Greystone Financial Group LLC increased its position in AT&T by 3.6% in the first quarter. Polaris Greystone Financial Group LLC now owns 338,134 shares of the technology company’s stock valued at $14,049,000 after buying an additional 11,838 shares during the period. Glenview State Bank Trust DEPT. increased its position in AT&T by 0.7% in the first quarter. Glenview State Bank Trust DEPT. now owns 84,434 shares of the technology company’s stock valued at $3,508,000 after buying an additional 580 shares during the period. Shell Asset Management Co. increased its position in AT&T by 0.4% in the first quarter. Shell Asset Management Co. now owns 1,245,965 shares of the technology company’s stock valued at $51,770,000 after buying an additional 5,354 shares during the period. Finally, Janney Montgomery Scott LLC increased its position in AT&T by 8.9% in the first quarter. Janney Montgomery Scott LLC now owns 2,032,020 shares of the technology company’s stock valued at $84,430,000 after buying an additional 166,398 shares during the period. 55.24% of the stock is currently owned by institutional investors.

Shares of AT&T Inc. (NYSE:T) traded down 0.61% during trading on Friday, reaching $37.37. 23,017,865 shares of the company were exchanged. The company has a 50 day moving average price of $37.59 and a 200-day moving average price of $39.51. AT&T Inc. has a one year low of $35.81 and a one year high of $43.03. The stock has a market capitalization of $229.45 billion, a price-to-earnings ratio of 17.56 and a beta of 0.47.

AT&T (NYSE:T) last announced its quarterly earnings results on Tuesday, July 25th. The technology company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.05. AT&T had a return on equity of 14.53% and a net margin of 8.12%. The business had revenue of $39.84 billion during the quarter, compared to the consensus estimate of $39.84 billion. During the same quarter last year, the firm posted $0.72 EPS. The company’s quarterly revenue was down 1.6% on a year-over-year basis. Equities analysts predict that AT&T Inc. will post $2.95 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 5.24%. The ex-dividend date was Thursday, July 6th. AT&T’s dividend payout ratio is 92.45%.

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Several analysts recently commented on T shares. Royal Bank Of Canada restated a “hold” rating and set a $42.00 price target on shares of AT&T in a report on Sunday, July 9th. Tigress Financial upgraded shares of AT&T from an “underperform” rating to a “neutral” rating in a report on Tuesday, May 9th. Vetr upgraded shares of AT&T from a “buy” rating to a “strong-buy” rating and set a $41.56 price target for the company in a report on Monday, July 10th. Zacks Investment Research cut shares of AT&T from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. Finally, Deutsche Bank AG restated a “hold” rating and set a $41.00 price target (down from $42.00) on shares of AT&T in a report on Saturday, April 29th. One investment analyst has rated the stock with a sell rating, twenty have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $43.50.

AT&T Company Profile

AT&T Inc is a holding company. The Company is a provider of communications and digital entertainment services in the United States and the world. The Company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Company offers its services and products to consumers in the United States, Mexico and Latin America and to businesses and other providers of telecommunications services worldwide.

Institutional Ownership by Quarter for AT&T (NYSE:T)

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