AT&T Inc. $T Shares Purchased by Anchor Investment Management LLC

Key Points

• Anchor Investment Management LLC increased its stake in AT&T Inc. by 36.6% in the first quarter, holding nearly 51,000 shares valued at approximately $1.44 million.
• AT&T reported a quarterly net revenue of $30.85 billion, surpassing analyst expectations, along with earnings per share of $0.54.
• The company announced a quarterly dividend of $0.2775 per share, leading to an annualized dividend yield of 3.8%.

Anchor Investment Management LLC boosted its holdings in AT&T Inc. (NYSE:T - Free Report) by 36.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 50,943 shares of the technology company's stock after buying an additional 13,663 shares during the quarter. Anchor Investment Management LLC's holdings in AT&T were worth $1,441,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of T. Minot DeBlois Advisors LLC purchased a new position in AT&T in the 4th quarter worth about $25,000. Capital A Wealth Management LLC purchased a new stake in shares of AT&T during the 4th quarter valued at about $25,000. Stone House Investment Management LLC purchased a new stake in shares of AT&T during the 1st quarter valued at about $25,000. Putney Financial Group LLC purchased a new stake in shares of AT&T during the 4th quarter valued at about $27,000. Finally, Hager Investment Management Services LLC increased its position in shares of AT&T by 182.1% during the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company's stock valued at $28,000 after purchasing an additional 641 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company's stock.

Analyst Upgrades and Downgrades

T has been the subject of several research reports. HSBC lowered shares of AT&T from a "buy" rating to a "hold" rating and set a $30.00 price target for the company. in a research report on Thursday, July 24th. The Goldman Sachs Group initiated coverage on shares of AT&T in a research report on Tuesday, September 2nd. They set a "buy" rating and a $32.00 price target for the company. Wells Fargo & Company upped their price target on shares of AT&T from $30.00 to $31.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Sanford C. Bernstein upped their price target on shares of AT&T from $31.00 to $32.00 and gave the company an "outperform" rating in a research report on Thursday, September 4th. Finally, Morgan Stanley boosted their price objective on AT&T from $31.00 to $32.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $30.60.

AT&T Trading Up 0.3%

T stock traded up $0.10 during midday trading on Friday, reaching $29.59. The company's stock had a trading volume of 22,789,775 shares, compared to its average volume of 28,351,510. 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 stock has a fifty day simple moving average of $28.31 and a two-hundred day simple moving average of $27.73. 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 $211.58 billion, a price-to-earnings ratio of 16.81, a PEG ratio of 3.67 and a beta of 0.44.

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

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were paid a dividend of $0.2775 per share. The ex-dividend date was Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.8%. AT&T's payout ratio is presently 63.07%.

AT&T Company 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.