Rydar Equities Inc. Takes Position in AT&T Inc. $T

Rydar Equities Inc. bought a new stake in AT&T Inc. (NYSE:T) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 103,195 shares of the technology company’s stock, valued at approximately $2,986,000. AT&T accounts for about 2.4% of Rydar Equities Inc.’s investment portfolio, making the stock its 9th biggest holding.

A number of other large investors have also added to or reduced their stakes in T. Front Row Advisors LLC purchased a new position in AT&T in the 2nd quarter valued at about $25,000. O Brien Wealth Partners LLC acquired a new position in shares of AT&T in the second quarter worth about $26,000. Kennebec Savings Bank boosted its holdings in AT&T by 412.1% in the second quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock valued at $28,000 after purchasing an additional 783 shares during the last quarter. Solstein Capital LLC grew its stake in AT&T by 217.3% during the 2nd quarter. Solstein Capital LLC now owns 952 shares of the technology company’s stock valued at $28,000 after purchasing an additional 652 shares in the last quarter. Finally, Curio Wealth LLC increased its holdings in AT&T by 26,100.0% during the 2nd quarter. Curio Wealth LLC now owns 1,048 shares of the technology company’s stock worth $30,000 after purchasing an additional 1,044 shares during the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on T. Royal Bank Of Canada decreased their price target on shares of AT&T from $31.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday, October 23rd. Williams Trading set a $33.00 target price on shares of AT&T in a research note on Thursday, October 23rd. Sanford C. Bernstein upped their price objective on AT&T from $31.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, September 4th. UBS Group reiterated a “buy” rating on shares of AT&T in a research report on Thursday, October 23rd. Finally, Citigroup reissued a “buy” rating on shares of AT&T in a research report on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $30.55.

AT&T Stock Up 1.1%

NYSE:T opened at $24.57 on Monday. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 1.01. The stock has a 50 day moving average of $25.41 and a 200-day moving average of $27.26. The firm has a market capitalization of $174.20 billion, a PE ratio of 7.98, a price-to-earnings-growth ratio of 1.44 and a beta of 0.38. AT&T Inc. has a 52 week low of $21.38 and a 52 week high of $29.79.

AT&T (NYSE:T) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates 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 for the quarter was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.60 EPS. Analysts predict that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Friday, October 10th were given a dividend of $0.2775 per share. The ex-dividend date was Friday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.5%. AT&T’s dividend payout ratio is currently 36.04%.

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.