Pinnacle Advisory Group Inc. Increases Holdings in AT&T Inc. (NYSE:T)

Pinnacle Advisory Group Inc. grew its holdings in AT&T Inc. (NYSE:T) by 46.1% during the first quarter, HoldingsChannel reports. The fund owned 31,610 shares of the technology company’s stock after purchasing an additional 9,968 shares during the period. Pinnacle Advisory Group Inc.’s holdings in AT&T were worth $957,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Curi Capital acquired a new stake in shares of AT&T in the fourth quarter valued at approximately $25,000. Arcadia Investment Management Corp MI purchased a new position in shares of AT&T in the 1st quarter valued at approximately $30,000. Veritas Investment Partners UK Ltd. purchased a new stake in AT&T during the fourth quarter worth $31,000. Better Money Decisions LLC acquired a new stake in AT&T in the first quarter valued at $32,000. Finally, Interactive Financial Advisors increased its position in shares of AT&T by 65.8% in the first quarter. Interactive Financial Advisors now owns 1,101 shares of the technology company’s stock valued at $33,000 after buying an additional 437 shares in the last quarter. 50.48% of the stock is currently owned by institutional investors and hedge funds.

NYSE T opened at $29.18 on Friday. AT&T Inc. has a 12 month low of $26.35 and a 12 month high of $33.88. The firm has a market capitalization of $208.35 billion, a price-to-earnings ratio of -83.37, a PEG ratio of 3.06 and a beta of 0.77. The company’s 50 day moving average is $30.45. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 0.88.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, April 21st. The technology company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.08. The company had revenue of $43.90 billion for the quarter, compared to analysts’ expectations of $42.69 billion. AT&T had a positive return on equity of 12.33% and a negative net margin of 1.29%. During the same period last year, the firm earned $0.84 EPS. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. Analysts forecast that AT&T Inc. will post 3.16 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, May 3rd. Investors of record on Friday, April 9th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 7.13%. The ex-dividend date of this dividend was Thursday, April 8th. AT&T’s payout ratio is 65.41%.

In other news, CEO John T. Stankey bought 34,614 shares of the business’s stock in a transaction on Wednesday, May 19th. The shares were bought at an average cost of $28.81 per share, with a total value of $997,229.34. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Pascal Desroches bought 3,056 shares of AT&T stock in a transaction dated Wednesday, May 19th. The stock was acquired at an average price of $29.06 per share, with a total value of $88,807.36. Following the acquisition, the chief financial officer now directly owns 173,871 shares of the company’s stock, valued at $5,052,691.26. The disclosure for this purchase can be found here. Insiders own 0.08% of the company’s stock.

A number of analysts recently commented on the company. Morgan Stanley decreased their price objective on AT&T from $34.00 to $32.00 and set an “equal weight” rating on the stock in a research note on Monday, May 24th. UBS Group raised shares of AT&T from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $32.00 to $35.00 in a research report on Friday, May 21st. Raymond James lifted their target price on shares of AT&T from $32.00 to $33.00 and gave the stock an “outperform” rating in a research note on Friday, April 23rd. Deutsche Bank Aktiengesellschaft upped their price target on AT&T from $31.00 to $34.00 in a report on Wednesday, April 28th. Finally, New Street Research raised shares of AT&T from a “neutral” rating to a “buy” rating and set a $35.00 target price on the stock in a research report on Friday, May 21st. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the stock. AT&T currently has a consensus rating of “Hold” and a consensus price target of $31.75.

About AT&T

AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through Communications, WarnerMedia, and Latin America segments. The Communications segment offers wireless voice and data communications services; video and targeted advertising services; broadband, including fiber, and legacy telephony internet and voice communication; and wireline telecom services.

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

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