Michels Family Financial LLC Purchases Shares of 11,743 AT&T Inc. (NYSE:T)

Michels Family Financial LLC purchased a new stake in shares of AT&T Inc. (NYSE:T) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 11,743 shares of the technology company’s stock, valued at approximately $267,000.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in AT&T by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 642,859,644 shares of the technology company’s stock worth $14,637,914,000 after purchasing an additional 6,220,442 shares during the last quarter. Geode Capital Management LLC increased its position in AT&T by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 163,761,301 shares of the technology company’s stock worth $3,719,723,000 after purchasing an additional 2,640,644 shares during the last quarter. GQG Partners LLC increased its position in AT&T by 37.3% in the fourth quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company’s stock worth $2,203,667,000 after purchasing an additional 26,280,866 shares during the last quarter. Bank of New York Mellon Corp increased its position in AT&T by 7.1% in the fourth quarter. Bank of New York Mellon Corp now owns 85,592,594 shares of the technology company’s stock worth $1,948,943,000 after purchasing an additional 5,649,277 shares during the last quarter. Finally, Norges Bank bought a new stake in AT&T in the fourth quarter worth $1,858,418,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

Shares of AT&T stock opened at $27.45 on Friday. The firm has a market capitalization of $197.50 billion, a P/E ratio of 18.42, a PEG ratio of 3.00 and a beta of 0.42. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. The company has a 50 day moving average price of $27.30 and a 200 day moving average price of $25.09. AT&T Inc. has a 52 week low of $17.11 and a 52 week high of $29.03.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). AT&T had a net margin of 8.95% and a return on equity of 13.97%. The business had revenue of $30.63 billion for the quarter, compared to analyst estimates of $30.39 billion. During the same quarter in the previous year, the firm posted $0.55 earnings per share. The business’s revenue was up 2.0% on a year-over-year basis. Sell-side analysts expect that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 4.04%. The ex-dividend date of this dividend was Thursday, April 10th. AT&T’s payout ratio is 68.10%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on T. JPMorgan Chase & Co. boosted their price target on shares of AT&T from $28.00 to $31.00 and gave the stock an “overweight” rating in a research report on Thursday, April 24th. Cowen reiterated a “hold” rating on shares of AT&T in a research report on Thursday, April 24th. Oppenheimer boosted their price objective on shares of AT&T from $27.00 to $32.00 and gave the company an “outperform” rating in a research report on Tuesday, April 1st. Morgan Stanley reiterated an “overweight” rating and set a $31.00 price objective (up previously from $30.00) on shares of AT&T in a research report on Thursday, April 24th. Finally, Evercore ISI boosted their price objective on shares of AT&T from $25.00 to $27.00 and gave the company an “in-line” rating in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.71.

AT&T Company Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.