Astoria Portfolio Advisors LLC. Makes New Investment in AT&T Inc. $T

Key Points

• Astoria Portfolio Advisors LLC has acquired a new position in AT&T Inc., purchasing 11,194 shares valued at approximately $313,000 during Q2.
• AT&T recently reported $0.54 earnings per share (EPS) for the last quarter, outperforming analyst estimates by $0.01, alongside a revenue increase of 3.4% year-over-year.
• The company declared a quarterly dividend of $0.2775 per share, representing an annualized yield of 4.3%, which will be paid out on November 3rd.

Astoria Portfolio Advisors LLC. acquired a new position in shares of AT&T Inc. (NYSE:T - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 11,194 shares of the technology company's stock, valued at approximately $313,000.

Other large investors have also recently bought and sold shares of the company. CHURCHILL MANAGEMENT Corp boosted its stake in shares of AT&T by 1.5% in the 2nd quarter. CHURCHILL MANAGEMENT Corp now owns 324,104 shares of the technology company's stock valued at $9,380,000 after purchasing an additional 4,793 shares in the last quarter. Kickstand Ventures LLC. acquired a new stake in shares of AT&T in the 2nd quarter valued at approximately $489,000. ASR Vermogensbeheer N.V. boosted its stake 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 in the last quarter. Simplicity Wealth LLC boosted its stake 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 in the last quarter. Finally, Xponance Inc. boosted its stake 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 in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Down 1.2%

Shares of NYSE T opened at $25.57 on Tuesday. The company has a 50 day simple moving average of $28.41 and a 200 day simple moving average of $27.86. The firm has a market cap of $182.80 billion, a PE ratio of 14.53, a price-to-earnings-growth ratio of 2.10 and a beta of 0.42. AT&T Inc. has a 1 year low of $21.05 and a 1 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.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 net margin of 10.29% and a return on equity of 13.36%. The firm's quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the business earned $0.51 EPS. On average, research analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on T. Hsbc Global Res downgraded shares of AT&T from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 24th. Weiss Ratings restated a "buy (b)" rating on shares of AT&T in a research note on Wednesday, October 8th. UBS Group set a $33.00 price target on shares of AT&T in a research note on Thursday, September 18th. Raymond James Financial restated a "strong-buy" rating and issued a $33.00 price target (up from $31.00) on shares of AT&T in a research note on Thursday, September 18th. Finally, Morgan Stanley raised their price objective on shares of AT&T from $31.00 to $32.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. One investment 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 company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $30.75.

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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