Sigma Investment Counselors Inc. Invests $241,000 in AT&T Inc. $T

Sigma Investment Counselors Inc. acquired a new stake in AT&T Inc. (NYSE:T) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 8,322 shares of the technology company’s stock, valued at approximately $241,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. David J Yvars Group grew its holdings in shares of AT&T by 2.8% during the second quarter. David J Yvars Group now owns 13,884 shares of the technology company’s stock worth $402,000 after buying an additional 372 shares in the last quarter. AllSquare Wealth Management LLC boosted its position 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 worth $161,000 after acquiring an additional 378 shares during the last quarter. Barnes Wealth Management Group Inc grew its stake in shares of AT&T by 2.6% during the 1st quarter. Barnes Wealth Management Group Inc now owns 15,027 shares of the technology company’s stock worth $425,000 after acquiring an additional 380 shares in the last quarter. Kathmere Capital Management LLC raised its holdings in shares of AT&T by 0.8% in the second quarter. Kathmere Capital Management LLC now owns 50,802 shares of the technology company’s stock valued at $1,470,000 after purchasing an additional 381 shares during the last quarter. Finally, James J. Burns & Company LLC raised its holdings in shares of AT&T by 1.0% in the second quarter. James J. Burns & Company LLC now owns 40,362 shares of the technology company’s stock valued at $1,168,000 after purchasing an additional 383 shares during the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

T has been the subject of several recent research reports. UBS Group set a $33.00 target price on shares of AT&T in a report on Thursday, September 18th. Morgan Stanley increased their price objective on shares of AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 16th. Raymond James Financial restated a “strong-buy” rating and issued a $33.00 price objective (up previously from $31.00) on shares of AT&T in a report on Thursday, September 18th. The Goldman Sachs Group assumed coverage on AT&T in a report on Tuesday, September 2nd. They set a “buy” rating and a $32.00 target price on the stock. Finally, Hsbc Global Res downgraded AT&T from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $30.65.

AT&T Trading Up 0.5%

Shares of NYSE:T opened at $26.33 on Monday. AT&T Inc. has a 52-week low of $21.05 and a 52-week high of $29.79. 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 company has a market capitalization 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 50-day simple moving average of $28.27 and a 200 day simple moving average of $27.80.

AT&T (NYSE:T) last released 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 firm had revenue of $30.85 billion for the quarter, compared to analyst estimates of $30.44 billion. During the same quarter in the prior year, the company earned $0.51 earnings per share. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. Sell-side analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

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

AT&T 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.