Dorsey Wright & Associates Invests $332,000 in AT&T Inc. $T

Dorsey Wright & Associates acquired a new stake in shares of AT&T Inc. (NYSE:T) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 11,475 shares of the technology company’s stock, valued at approximately $332,000.

Several other hedge funds also recently bought and sold shares of T. Roberts Glore & Co. Inc. IL lifted its position in shares of AT&T by 2.0% during the second quarter. Roberts Glore & Co. Inc. IL now owns 18,386 shares of the technology company’s stock worth $532,000 after purchasing an additional 357 shares during the last quarter. Investment Partners LTD. increased its stake in AT&T by 3.5% in the 2nd quarter. Investment Partners LTD. now owns 10,464 shares of the technology company’s stock worth $303,000 after buying an additional 357 shares during the period. Parcion Private Wealth LLC increased its stake in AT&T by 2.5% in the 2nd quarter. Parcion Private Wealth LLC now owns 14,910 shares of the technology company’s stock worth $431,000 after buying an additional 364 shares during the period. Texas Bank & Trust Co lifted its holdings in AT&T by 0.6% during the 2nd quarter. Texas Bank & Trust Co now owns 64,274 shares of the technology company’s stock valued at $1,860,000 after buying an additional 364 shares in the last quarter. Finally, David J Yvars Group lifted its holdings in AT&T by 2.8% during the 2nd quarter. David J Yvars Group now owns 13,884 shares of the technology company’s stock valued at $402,000 after buying an additional 372 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on T shares. Citigroup restated a “buy” rating on shares of AT&T in a research note on Tuesday, August 26th. Wells Fargo & Company dropped their price objective 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. Weiss Ratings restated a “buy (b)” rating on shares of AT&T in a report on Wednesday, October 8th. Sanford C. Bernstein lifted their target price on AT&T from $31.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, September 4th. Finally, KeyCorp raised AT&T from a “sector weight” rating to an “overweight” rating and set a $30.00 price target on the stock in a research report on Tuesday, November 11th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and a consensus target price of $30.64.

AT&T Stock Performance

Shares of NYSE:T opened at $25.27 on Thursday. The firm has a 50 day moving average of $26.53 and a 200 day moving average of $27.51. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $179.11 billion, a price-to-earnings ratio of 8.20, a price-to-earnings-growth ratio of 2.16 and a beta of 0.40. AT&T Inc. has a 52 week low of $21.38 and a 52 week high of $29.79.

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. The business had revenue of $30.71 billion for the quarter, compared to the consensus estimate of $30.85 billion. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The business’s revenue was up 1.7% compared to the same quarter last year. During the same period last year, the business posted $0.60 EPS. On average, sell-side analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently announced 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 annualized dividend and a yield of 4.4%. The ex-dividend date was Friday, October 10th. AT&T’s payout ratio is 36.04%.

AT&T 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.