Laffer Tengler Investments Inc. Invests $228,000 in AT&T Inc. $T

Laffer Tengler Investments Inc. bought a new position in shares of AT&T Inc. (NYSE:T) during the 2nd quarter, HoldingsChannel reports. The firm bought 7,888 shares of the technology company’s stock, valued at approximately $228,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vise Technologies Inc. purchased a new position in AT&T in the second quarter valued at about $6,221,000. Allworth Financial LP boosted its holdings in shares of AT&T by 19.5% in the 2nd quarter. Allworth Financial LP now owns 1,766,096 shares of the technology company’s stock valued at $51,111,000 after buying an additional 288,081 shares in the last quarter. Addison Advisors LLC grew its position in shares of AT&T by 17.1% in the 2nd quarter. Addison Advisors LLC now owns 10,477 shares of the technology company’s stock worth $303,000 after buying an additional 1,530 shares during the last quarter. Illinois Municipal Retirement Fund grew its position in shares of AT&T by 1.9% in the 2nd quarter. Illinois Municipal Retirement Fund now owns 1,571,388 shares of the technology company’s stock worth $45,476,000 after buying an additional 28,921 shares during the last quarter. Finally, Altman Advisors Inc. raised its stake in shares of AT&T by 1.9% during the 2nd quarter. Altman Advisors Inc. now owns 67,368 shares of the technology company’s stock worth $1,946,000 after acquiring an additional 1,231 shares in the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on T shares. UBS Group restated a “buy” rating on shares of AT&T in a research note on Thursday, October 23rd. Royal Bank Of Canada decreased their price objective on AT&T from $31.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday, October 23rd. HSBC downgraded AT&T from a “buy” rating to a “hold” rating and set a $30.00 target price on the stock. in a research note on Thursday, July 24th. Williams Trading set a $33.00 price target on AT&T in a report on Thursday, October 23rd. Finally, Wells Fargo & Company dropped their price target on AT&T from $31.00 to $29.00 and set an “overweight” rating on the stock in a research note on Thursday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $30.67.

AT&T Stock Performance

Shares of T opened at $24.81 on Monday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.96 and a current ratio of 1.01. The stock has a 50-day moving average of $27.14 and a two-hundred day moving average of $27.63. The stock has a market cap of $175.85 billion, a P/E ratio of 8.05, a P/E/G ratio of 2.16 and a beta of 0.40. AT&T Inc. has a one year low of $21.38 and a one year high of $29.79.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.54. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The business had revenue of $30.71 billion for the quarter, compared to analyst estimates of $30.85 billion. During the same period in the prior year, the company earned $0.60 earnings per share. The company’s revenue was up 1.7% on a year-over-year basis. As a group, research analysts predict that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Friday, October 10th were given a dividend of $0.2775 per share. The ex-dividend date of this dividend was Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.5%. AT&T’s dividend payout ratio (DPR) is currently 36.04%.

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.