Cooper Financial Group Acquires 2,387 Shares of AT&T Inc. $T

Cooper Financial Group lifted its holdings in AT&T Inc. (NYSE:T) by 9.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,903 shares of the technology company’s stock after buying an additional 2,387 shares during the quarter. Cooper Financial Group’s holdings in AT&T were worth $779,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in T. Kingstone Capital Partners Texas LLC bought a new stake in AT&T during the 2nd quarter worth about $5,266,758,000. Nuveen LLC bought a new stake in AT&T during the 1st quarter worth about $1,072,128,000. GQG Partners LLC raised its holdings in AT&T by 17.7% during the 1st quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock worth $3,222,711,000 after purchasing an additional 17,177,874 shares during the last quarter. Ontario Teachers Pension Plan Board raised its holdings in AT&T by 30,527.5% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company’s stock worth $338,213,000 after purchasing an additional 11,920,392 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in AT&T by 350.4% during the 1st quarter. Wellington Management Group LLP now owns 11,363,940 shares of the technology company’s stock worth $321,372,000 after purchasing an additional 8,841,126 shares during the last quarter. 57.10% of the stock is owned by institutional investors.

AT&T Price Performance

Shares of T opened at $27.55 on Thursday. 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 stock has a 50 day simple moving average of $28.63 and a 200 day simple moving average of $27.91. AT&T Inc. has a 52-week low of $21.05 and a 52-week high of $29.79. The firm has a market capitalization of $196.96 billion, a PE ratio of 15.65, a P/E/G ratio of 3.62 and a beta of 0.42.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.01. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The business had revenue of $30.85 billion during the quarter, compared to analyst estimates of $30.44 billion. During the same period in the previous year, the firm earned $0.51 EPS. AT&T’s quarterly revenue was up 3.4% compared to the same quarter last year. Sell-side analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently disclosed 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 annualized dividend and a dividend yield of 4.0%. AT&T’s payout ratio is currently 63.07%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price objective on AT&T from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Wells Fargo & Company boosted their target price on AT&T from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Thursday, July 10th. Morgan Stanley boosted their target price on AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 16th. The Goldman Sachs Group began coverage on AT&T in a research report on Tuesday, September 2nd. They set a “buy” rating and a $32.00 target price for the company. Finally, Barclays restated an “equal weight” rating and set a $30.00 target price on shares of AT&T in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, AT&T currently has a consensus rating of “Moderate Buy” and an average target price of $30.74.

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.