Greenland Capital Management LP Acquires 265,917 Shares of AT&T Inc. $T

Greenland Capital Management LP boosted its holdings in AT&T Inc. (NYSE:T) by 189.7% during the second quarter, Holdings Channel.com reports. The firm owned 406,068 shares of the technology company’s stock after acquiring an additional 265,917 shares during the quarter. AT&T comprises about 1.2% of Greenland Capital Management LP’s portfolio, making the stock its 16th largest holding. Greenland Capital Management LP’s holdings in AT&T were worth $11,752,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Wealthspire Advisors LLC boosted its position in shares of AT&T by 3.2% in the 2nd quarter. Wealthspire Advisors LLC now owns 110,648 shares of the technology company’s stock worth $3,202,000 after purchasing an additional 3,397 shares in the last quarter. Perennial Investment Advisors LLC raised its stake in AT&T by 4.0% during the second quarter. Perennial Investment Advisors LLC now owns 35,392 shares of the technology company’s stock valued at $1,024,000 after buying an additional 1,346 shares during the last quarter. Purus Wealth Management LLC boosted its holdings in AT&T by 48.6% in the second quarter. Purus Wealth Management LLC now owns 18,251 shares of the technology company’s stock worth $528,000 after acquiring an additional 5,971 shares in the last quarter. Portside Wealth Group LLC grew its stake in shares of AT&T by 3.5% in the second quarter. Portside Wealth Group LLC now owns 75,495 shares of the technology company’s stock worth $2,185,000 after acquiring an additional 2,588 shares during the last quarter. Finally, United Advisor Group LLC increased its holdings in shares of AT&T by 5.1% during the second quarter. United Advisor Group LLC now owns 37,356 shares of the technology company’s stock valued at $1,081,000 after acquiring an additional 1,810 shares in the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Stock Up 0.5%

NYSE T opened at $25.61 on Wednesday. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 1.01. The stock’s 50 day moving average is $26.60 and its 200 day moving average is $27.53. AT&T Inc. has a 12 month low of $21.38 and a 12 month high of $29.79. The stock has a market cap of $181.53 billion, a PE ratio of 8.31, a P/E/G ratio of 2.16 and a beta of 0.40.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.54. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The company had revenue of $30.71 billion for the quarter, compared to the consensus estimate of $30.85 billion. During the same period in the previous year, the firm posted $0.60 EPS. AT&T’s revenue for the quarter was up 1.7% compared to the same quarter last year. Research analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Friday, October 10th were paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend was Friday, October 10th. AT&T’s dividend payout ratio (DPR) is presently 36.04%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Barclays dropped their price target on shares of AT&T from $30.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 23rd. JPMorgan Chase & Co. lifted their target price on shares of AT&T from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Royal Bank Of Canada decreased their price target on AT&T from $31.00 to $30.00 and set an “outperform” rating for the company in a research note on Thursday, October 23rd. Wells Fargo & Company dropped their target price on AT&T from $31.00 to $29.00 and set an “overweight” rating on the stock in a research report on Thursday, October 16th. Finally, TD Cowen upped their price target on shares of AT&T from $32.00 to $33.00 and gave the company a “hold” rating in a research report on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $30.64.

About AT&T

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.