12,460 Shares in AT&T Inc. $T Purchased by J.Safra Asset Management Corp

Key Points

• J.Safra Asset Management Corp purchased 12,460 shares of AT&T Inc. valued at approximately $350,000, marking a new position for the firm during the second quarter.
• AT&T declared a quarterly dividend of $0.2775 per share, with an annualized yield of 4.3%, scheduled for payment on November 3rd.
• The stock has a market cap of $182.80 billion and analysts have given it an average rating of "Moderate Buy" with a target price of $30.75.

J.Safra Asset Management Corp purchased a new position in AT&T Inc. (NYSE:T - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 12,460 shares of the technology company's stock, valued at approximately $350,000.

Other institutional investors have also recently bought and sold shares of the company. CHURCHILL MANAGEMENT Corp increased its stake in AT&T by 1.5% in the 2nd quarter. CHURCHILL MANAGEMENT Corp now owns 324,104 shares of the technology company's stock worth $9,380,000 after purchasing an additional 4,793 shares in the last quarter. Kickstand Ventures LLC. purchased a new position in AT&T in the 2nd quarter worth about $489,000. ASR Vermogensbeheer N.V. increased its stake in AT&T by 1.4% in the 2nd quarter. ASR Vermogensbeheer N.V. now owns 722,568 shares of the technology company's stock worth $20,910,000 after purchasing an additional 9,970 shares in the last quarter. Simplicity Wealth LLC increased its stake in AT&T by 180.5% in the 2nd quarter. Simplicity Wealth LLC now owns 114,091 shares of the technology company's stock worth $3,302,000 after purchasing an additional 73,417 shares in the last quarter. Finally, Xponance Inc. increased its stake in AT&T by 10.2% in the 1st quarter. Xponance Inc. now owns 1,109,933 shares of the technology company's stock worth $31,389,000 after purchasing an additional 102,419 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Scotiabank set a $30.25 price target on AT&T and gave the stock a "sector perform" rating in a research note on Monday, October 6th. Wells Fargo & Company lifted their target price on AT&T from $30.00 to $31.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Hsbc Global Res cut AT&T from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 24th. UBS Group set a $33.00 target price on AT&T in a research note on Thursday, September 18th. Finally, Sanford C. Bernstein lifted their target price on AT&T from $31.00 to $32.00 and gave the company an "outperform" rating in a research note on Thursday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $30.75.

AT&T Stock Down 1.2%

Shares of AT&T stock opened at $25.57 on Tuesday. The firm has a market cap of $182.80 billion, a price-to-earnings ratio of 14.53, a P/E/G ratio of 2.10 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 Inc. has a 52-week low of $21.05 and a 52-week high of $29.79. The stock has a 50-day simple moving average of $28.41 and a 200-day simple moving average of $27.86.

AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings results 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. The business had revenue of $30.85 billion during the quarter, compared to analyst estimates of $30.44 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The firm's revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.51 EPS. On average, equities research analysts expect that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Friday, October 10th. AT&T's payout ratio is currently 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.

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