AT&T Inc. (NYSE:T) Shares Purchased by Ameriprise Financial Inc.

Ameriprise Financial Inc. grew its stake in AT&T Inc. (NYSE:T) by 1.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,852,135 shares of the technology company’s stock after purchasing an additional 311,450 shares during the period. Ameriprise Financial Inc. owned about 0.26% of AT&T worth $362,921,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Twelve Points Wealth Management LLC boosted its position in shares of AT&T by 2.8% in the first quarter. Twelve Points Wealth Management LLC now owns 18,866 shares of the technology company’s stock valued at $363,000 after acquiring an additional 512 shares during the period. Capital Advisors Wealth Management LLC boosted its stake in shares of AT&T by 5.1% in the first quarter. Capital Advisors Wealth Management LLC now owns 11,071 shares of the technology company’s stock valued at $213,000 after buying an additional 542 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its position in AT&T by 1.2% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 47,356 shares of the technology company’s stock worth $1,119,000 after buying an additional 547 shares in the last quarter. Retirement Planning Co of New England Inc. increased its stake in AT&T by 3.2% during the 1st quarter. Retirement Planning Co of New England Inc. now owns 17,714 shares of the technology company’s stock worth $341,000 after acquiring an additional 554 shares during the period. Finally, SMH Capital Advisors Inc. raised its holdings in AT&T by 1.8% in the 4th quarter. SMH Capital Advisors Inc. now owns 31,771 shares of the technology company’s stock valued at $585,000 after acquiring an additional 565 shares in the last quarter. Institutional investors and hedge funds own 53.65% of the company’s stock.

AT&T Stock Performance

NYSE T opened at $15.06 on Friday. The company has a market capitalization of $107.66 billion, a price-to-earnings ratio of -12.34, a PEG ratio of 1.79 and a beta of 0.64. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.10. AT&T Inc. has a twelve month low of $13.43 and a twelve month high of $20.50. The stock has a fifty day simple moving average of $14.49 and a 200 day simple moving average of $16.40.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, July 26th. The technology company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.03. The company had revenue of $29.92 billion during the quarter, compared to the consensus estimate of $30.07 billion. AT&T had a positive return on equity of 15.91% and a negative net margin of 7.22%. The firm’s revenue was up .9% compared to the same quarter last year. During the same period last year, the company earned $0.65 earnings per share. Sell-side analysts expect that AT&T Inc. will post 2.43 EPS for the current year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Monday, July 10th were issued a $0.2775 dividend. The ex-dividend date was Friday, July 7th. This represents a $1.11 annualized dividend and a yield of 7.37%. AT&T’s payout ratio is -90.98%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Argus cut AT&T from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Royal Bank of Canada decreased their price objective on shares of AT&T from $19.00 to $14.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 10th. StockNews.com initiated coverage on AT&T in a research note on Thursday, August 17th. They set a “hold” rating for the company. Barclays lowered their price target on AT&T from $18.00 to $17.00 in a report on Thursday, July 6th. Finally, JPMorgan Chase & Co. downgraded AT&T from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $22.00 to $17.00 in a research report on Friday, July 14th. Nine investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, AT&T currently has a consensus rating of “Hold” and an average price target of $20.00.

AT&T Company Profile

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.