AT&T Inc. $T Holdings Lifted by Owen LaRue LLC

Key Points

• Owen LaRue LLC has increased its stake in AT&T Inc. by 46.2%, now holding 33,982 shares worth approximately $983,000.
• AT&T reported earnings of $0.54 per share for the last quarter, exceeding analysts' expectations, alongside revenues of $30.85 billion.
• The company announced a quarterly dividend of $0.2775 per share, with an upcoming payout date of November 3rd, demonstrating a 3.9% annual yield.

Owen LaRue LLC grew its position in AT&T Inc. (NYSE:T - Free Report) by 46.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 33,982 shares of the technology company's stock after purchasing an additional 10,733 shares during the period. Owen LaRue LLC's holdings in AT&T were worth $983,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in T. American National Bank & Trust increased its stake in shares of AT&T by 20.3% during the second quarter. American National Bank & Trust now owns 37,928 shares of the technology company's stock valued at $1,098,000 after acquiring an additional 6,406 shares during the period. Meyer Handelman Co. increased its stake in shares of AT&T by 1.0% during the second quarter. Meyer Handelman Co. now owns 49,928 shares of the technology company's stock valued at $1,445,000 after acquiring an additional 495 shares during the period. Brave Asset Management Inc. increased its stake in shares of AT&T by 90.9% during the second quarter. Brave Asset Management Inc. now owns 38,744 shares of the technology company's stock valued at $1,121,000 after acquiring an additional 18,451 shares during the period. MBE Wealth Management LLC increased its stake in shares of AT&T by 6.7% during the second quarter. MBE Wealth Management LLC now owns 11,242 shares of the technology company's stock valued at $325,000 after acquiring an additional 707 shares during the period. Finally, Kingsman Wealth Management Inc. acquired a new position in shares of AT&T during the second quarter valued at approximately $900,000. 57.10% of the stock is currently owned by institutional investors.

AT&T Trading Down 0.0%

Shares of NYSE:T opened at $28.31 on Friday. The stock has a market capitalization of $202.42 billion, a price-to-earnings ratio of 16.08, a PEG ratio of 3.63 and a beta of 0.44. 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 quick ratio of 0.76 and a current ratio of 0.81. The company has a 50 day moving average price of $28.58 and a 200 day moving average price of $27.86.

AT&T (NYSE:T - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, topping analysts' consensus estimates of $0.53 by $0.01. The firm had revenue of $30.85 billion during the quarter, compared to analysts' expectations of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The firm's revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period last year, the firm posted $0.51 earnings per share. On average, research analysts anticipate that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm 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 dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Friday, October 10th. AT&T's dividend payout ratio (DPR) is presently 63.07%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on T shares. Sanford C. Bernstein raised their price objective on shares of AT&T from $31.00 to $32.00 and gave the company an "outperform" rating in a research note on Thursday, September 4th. Bank of America started coverage on shares of AT&T in a research note on Monday, July 7th. They set a "buy" rating and a $32.00 price objective on the stock. 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 research note on Wednesday, July 16th. Raymond James Financial reiterated a "strong-buy" rating and set a $33.00 price objective (up previously from $31.00) on shares of AT&T in a research note on Thursday, September 18th. Finally, UBS Group set a $33.00 price objective on shares of AT&T in a research note on Thursday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $30.74.

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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