Armstrong Fleming & Moore Inc purchased a new position in shares of AT&T Inc. (NYSE:T - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 33,222 shares of the technology company's stock, valued at approximately $961,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of T. David J Yvars Group raised its stake in AT&T by 2.8% in the 2nd quarter. David J Yvars Group now owns 13,884 shares of the technology company's stock worth $402,000 after acquiring an additional 372 shares during the last quarter. AllSquare Wealth Management LLC raised its stake in AT&T by 7.1% in 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 position in 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 purchasing an additional 380 shares during the period. Kathmere Capital Management LLC grew its position in AT&T by 0.8% during the 2nd quarter. Kathmere Capital Management LLC now owns 50,802 shares of the technology company's stock worth $1,470,000 after purchasing an additional 381 shares during the period. Finally, James J. Burns & Company LLC grew its position in AT&T by 1.0% during the 2nd quarter. James J. Burns & Company LLC now owns 40,362 shares of the technology company's stock worth $1,168,000 after purchasing an additional 383 shares during the period. Institutional investors own 57.10% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages have weighed in on T. Bank of America began coverage on AT&T in a research report on Monday, July 7th. They set a "buy" rating and a $32.00 price target on the stock. UBS Group set a $33.00 price target on AT&T in a research report on Thursday, September 18th. JPMorgan Chase & Co. increased their price target on AT&T from $31.00 to $33.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Morgan Stanley raised their target price on AT&T from $31.00 to $32.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Finally, HSBC cut AT&T from a "buy" rating to a "hold" rating and set a $30.00 target price on the stock. in a research report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $30.75.
Get Our Latest Stock Report on AT&T
AT&T Trading Up 0.3%
T opened at $26.24 on Thursday. 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's 50 day simple moving average is $28.51 and its two-hundred day simple moving average is $27.90. AT&T Inc. has a 1-year low of $21.05 and a 1-year high of $29.79. The firm has a market capitalization of $187.63 billion, a price-to-earnings ratio of 14.91, a price-to-earnings-growth ratio of 3.35 and a beta of 0.42.
AT&T (NYSE:T - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.53 by $0.01. The firm had revenue of $30.85 billion for the quarter, compared to analyst estimates of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The business's revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.51 EPS. Analysts expect that AT&T Inc. will post 2.14 EPS for the current fiscal year.
AT&T Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be given a $0.2775 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.2%. AT&T's payout ratio is presently 63.07%.
About AT&T
(
Free Report)
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.
Further Reading
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