Arcus Capital Partners LLC Buys New Shares in AT&T Inc. $T

Arcus Capital Partners LLC acquired a new position in shares of AT&T Inc. (NYSE:T) in the second quarter, HoldingsChannel.com reports. The firm acquired 7,089 shares of the technology company’s stock, valued at approximately $205,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC bought a new stake in shares of AT&T in the second quarter valued at about $5,266,758,000. Nuveen LLC acquired a new position in AT&T during the first quarter worth about $1,072,128,000. GQG Partners LLC raised its stake in AT&T by 17.7% during the first quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock worth $3,222,711,000 after acquiring an additional 17,177,874 shares in the last quarter. Ontario Teachers Pension Plan Board raised its stake in AT&T by 30,527.5% during the first quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company’s stock worth $338,213,000 after acquiring an additional 11,920,392 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of AT&T by 350.4% in the first quarter. Wellington Management Group LLP now owns 11,363,940 shares of the technology company’s stock valued at $321,372,000 after buying an additional 8,841,126 shares during the period. 57.10% of the stock is owned by institutional investors.

AT&T Trading Up 0.5%

Shares of T opened at $26.33 on Friday. The firm has a market cap of $188.24 billion, a P/E ratio of 14.96, a price-to-earnings-growth ratio of 2.13 and a beta of 0.42. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81. The business has a 50-day moving average of $28.27 and a 200 day moving average of $27.81. AT&T Inc. has a fifty-two week low of $21.05 and a fifty-two week high of $29.79.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.01. The firm had revenue of $30.85 billion during the quarter, compared to the consensus estimate of $30.44 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The company’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter last year, the company posted $0.51 EPS. As a group, research analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be given a $0.2775 dividend. The ex-dividend date is Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.2%. AT&T’s payout ratio is presently 63.07%.

Analysts Set New Price Targets

A number of analysts have weighed in on T shares. Scotiabank set a $30.25 target price on shares of AT&T and gave the company a “sector perform” rating in a research report on Monday, October 6th. Wells Fargo & Company cut their price target on AT&T from $31.00 to $29.00 and set an “overweight” rating on the stock in a report on Thursday. Morgan Stanley increased their target price on AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a report on Wednesday, July 16th. Bank of America began coverage on AT&T in a report on Monday, July 7th. They issued a “buy” rating and a $32.00 target price on the stock. Finally, Weiss Ratings restated a “buy (b)” rating on shares of AT&T in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $30.65.

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.