Adviser Investments LLC Boosts Holdings in AT&T Inc. (NYSE:T)

Adviser Investments LLC boosted its holdings in AT&T Inc. (NYSE:TGet Rating) by 39.1% during the second quarter, HoldingsChannel reports. The fund owned 30,057 shares of the technology company’s stock after buying an additional 8,442 shares during the period. Adviser Investments LLC’s holdings in AT&T were worth $630,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SWS Partners acquired a new stake in AT&T in the 1st quarter valued at approximately $25,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. acquired a new position in AT&T in the 1st quarter valued at about $27,000. Cordant Inc. purchased a new stake in AT&T during the first quarter worth about $31,000. Capital Management Associates NY acquired a new stake in shares of AT&T during the first quarter worth about $34,000. Finally, SBK Financial Inc. acquired a new stake in shares of AT&T during the fourth quarter worth about $35,000. Institutional investors and hedge funds own 52.88% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on T. Barclays lowered shares of AT&T from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $22.00 to $20.00 in a report on Friday, July 22nd. Moffett Nathanson decreased their target price on AT&T from $19.00 to $17.00 and set a “market perform” rating for the company in a report on Thursday, August 18th. Tigress Financial lowered their target price on AT&T from $31.00 to $28.00 in a research note on Thursday, June 16th. Deutsche Bank Aktiengesellschaft cut their target price on shares of AT&T from $24.00 to $22.00 in a research note on Friday, July 22nd. Finally, Raymond James reissued an “outperform” rating and issued a $26.00 price objective on shares of AT&T in a research report on Thursday, July 7th. Eleven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, AT&T presently has an average rating of “Hold” and a consensus target price of $23.41.

AT&T Stock Down 0.1 %

Shares of NYSE:T opened at $16.24 on Friday. AT&T Inc. has a 1-year low of $16.14 and a 1-year high of $21.53. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.70 and a quick ratio of 0.64. The stock has a market cap of $115.73 billion, a P/E ratio of 5.97, a P/E/G ratio of 1.91 and a beta of 0.48. The firm has a fifty day moving average price of $18.00 and a 200 day moving average price of $20.03.

AT&T (NYSE:TGet Rating) last announced its earnings results on Thursday, July 21st. The technology company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.04. The business had revenue of $29.64 billion during the quarter, compared to the consensus estimate of $29.48 billion. AT&T had a net margin of 13.41% and a return on equity of 13.11%. The business’s quarterly revenue was down 17.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.89 earnings per share. Sell-side analysts predict that AT&T Inc. will post 2.54 EPS for the current year.

AT&T Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 1st. Stockholders of record on Monday, July 11th were paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 6.83%. The ex-dividend date was Friday, July 8th. AT&T’s dividend payout ratio (DPR) is presently 40.81%.

AT&T Profile

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AT&T Inc provides telecommunications, media, and technology services worldwide. Its Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.

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

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