32,572 Shares in AT&T Inc. $T Acquired by Mattson Financial Services LLC

Key Points

• Mattson Financial Services LLC acquired 32,572 shares of AT&T, valued at approximately $943,000, during the 2nd quarter.
• AT&T's quarterly earnings exceeded estimates with a reported $0.54 EPS and revenue of $30.85 billion, a 3.4% increase year-over-year.
• The company announced a $0.2775 quarterly dividend, set to be paid on November 3rd, with a current yield of 4.2% and a payout ratio of 63.07%.

Mattson Financial Services LLC bought a new position in shares of AT&T Inc. (NYSE:T - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 32,572 shares of the technology company's stock, valued at approximately $943,000.

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

Wall Street Analyst Weigh In

A number of equities research analysts have commented on T shares. Morgan Stanley increased their price objective on shares of AT&T from $31.00 to $32.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Hsbc Global Res cut shares of AT&T from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 24th. Sanford C. Bernstein raised their price objective on shares of AT&T from $31.00 to $32.00 and gave the stock an "outperform" rating in a research report on Thursday, September 4th. Raymond James Financial restated a "strong-buy" rating and issued a $33.00 target price (up previously from $31.00) on shares of AT&T in a research note on Thursday, September 18th. Finally, Citigroup reiterated a "buy" rating on shares of AT&T in a report on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $30.65.

AT&T Stock Performance

Shares of NYSE T opened at $26.16 on Friday. The company has a market cap of $187.05 billion, a PE ratio of 14.86, a price-to-earnings-growth ratio of 2.11 and a beta of 0.42. AT&T Inc. has a 12 month low of $21.05 and a 12 month 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 company has a 50-day simple moving average of $28.31 and a 200-day simple moving average of $27.82.

AT&T (NYSE:T - Get Free Report) last issued its quarterly 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 during the quarter, compared to the consensus estimate 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 in the previous year, the firm posted $0.51 earnings per share. On average, equities analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date is Friday, October 10th. AT&T's payout ratio 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.

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