Tiptree Advisors LLC Has $7.37 Million Stake in AT&T Inc. $T

Tiptree Advisors LLC increased its position in shares of AT&T Inc. (NYSE:T) by 69.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 254,700 shares of the technology company’s stock after acquiring an additional 104,700 shares during the quarter. AT&T comprises about 5.8% of Tiptree Advisors LLC’s investment portfolio, making the stock its 5th largest position. Tiptree Advisors LLC’s holdings in AT&T were worth $7,371,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in T. Stone House Investment Management LLC bought a new stake in shares of AT&T during the first quarter worth approximately $25,000. O Brien Wealth Partners LLC bought a new position in AT&T in the second quarter valued at approximately $26,000. Hager Investment Management Services LLC grew its holdings in AT&T by 182.1% during the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock worth $28,000 after acquiring an additional 641 shares during the period. Kennebec Savings Bank raised its position in shares of AT&T by 412.1% during the 2nd quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock valued at $28,000 after acquiring an additional 783 shares during the last quarter. Finally, Core Alternative Capital lifted its stake in shares of AT&T by 125.4% in the 1st quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock valued at $29,000 after purchasing an additional 568 shares during the period. Institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. The Goldman Sachs Group assumed coverage on AT&T in a research note on Tuesday, September 2nd. They set a “buy” rating and a $32.00 price objective for the company. Bank of America initiated coverage on AT&T in a research report on Monday, July 7th. They set a “buy” rating and a $32.00 target price for the company. Wells Fargo & Company cut their price target on shares of AT&T from $31.00 to $29.00 and set an “overweight” rating on the stock in a research report on Thursday, October 16th. Sanford C. Bernstein lifted their price objective on shares of AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, September 4th. Finally, Morgan Stanley upped their target price on shares of AT&T from $31.00 to $32.00 and gave the company an “overweight” rating in a research note on Wednesday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $30.65.

AT&T Trading Down 0.3%

NYSE T opened at $26.01 on Wednesday. AT&T Inc. has a one year low of $21.05 and a one year high of $29.79. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76. The firm has a market cap of $185.98 billion, a P/E ratio of 14.78, a P/E/G ratio of 2.12 and a beta of 0.42. The stock’s 50-day moving average is $28.18 and its 200-day moving average is $27.78.

AT&T (NYSE:T) last posted its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $30.44 billion. During the same period in the prior year, the business earned $0.51 EPS. AT&T’s revenue for the quarter was up 3.4% compared to the same quarter last year. Sell-side analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Friday, October 10th. AT&T’s dividend payout ratio (DPR) is presently 63.07%.

About AT&T

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.