Klingman & Associates LLC Increases Stock Position in AT&T Inc. (NYSE:T)

Klingman & Associates LLC increased its position in AT&T Inc. (NYSE:T) by 13.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,911 shares of the technology company’s stock after acquiring an additional 1,502 shares during the period. Klingman & Associates LLC’s holdings in AT&T were worth $365,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. AllSquare Wealth Management LLC raised its stake in AT&T by 7.1% during the 1st quarter. AllSquare Wealth Management LLC now owns 5,704 shares of the technology company’s stock valued at $161,000 after buying an additional 378 shares during the last quarter. Next Level Private LLC raised its stake in AT&T by 0.3% during the 1st quarter. Next Level Private LLC now owns 113,379 shares of the technology company’s stock valued at $3,206,000 after buying an additional 379 shares during the last quarter. Carolinas Wealth Consulting LLC raised its stake in AT&T by 1.6% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 24,161 shares of the technology company’s stock valued at $550,000 after buying an additional 384 shares during the last quarter. Kozak & Associates Inc. raised its stake in AT&T by 9.4% during the 1st quarter. Kozak & Associates Inc. now owns 4,617 shares of the technology company’s stock valued at $126,000 after buying an additional 398 shares during the last quarter. Finally, Silver Oak Securities Incorporated raised its stake in AT&T by 0.3% during the 1st quarter. Silver Oak Securities Incorporated now owns 114,324 shares of the technology company’s stock valued at $3,222,000 after buying an additional 398 shares during the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Royal Bank Of Canada increased their price target on shares of AT&T from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. Williams Trading set a $30.00 price target on shares of AT&T in a research report on Thursday, April 24th. Wells Fargo & Company increased their price target on shares of AT&T from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Thursday, July 10th. Evercore ISI lifted their price target on shares of AT&T from $25.00 to $27.00 and gave the company an “in-line” rating in a report on Thursday, April 24th. Finally, Morgan Stanley lifted their price target on shares of AT&T from $31.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday, July 16th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, AT&T currently has an average rating of “Moderate Buy” and a consensus price target of $29.66.

AT&T Trading Down 0.3%

Shares of T opened at $28.40 on Thursday. AT&T Inc. has a 1-year low of $18.97 and a 1-year high of $29.19. The company has a 50-day moving average of $27.87 and a 200 day moving average of $27.13. The firm has a market capitalization of $203.07 billion, a price-to-earnings ratio of 16.14, a PEG ratio of 3.53 and a beta of 0.42. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76.

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

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were paid a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 3.9%. AT&T’s dividend payout ratio is 63.07%.

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.