AT&T Inc. $T Shares Acquired by Concurrent Investment Advisors LLC

Key Points

• Concurrent Investment Advisors LLC increased its stake in AT&T by 28.0% in the second quarter, now owning 401,469 shares valued at approximately $11.6 million.
• AT&T reported a net revenue of $30.85 billion for the last quarter, surpassing the consensus estimate of $30.44 billion and showing a year-over-year revenue growth of 3.4%.
• The company declared a quarterly dividend of $0.2775, yielding approximately 4.3%, with the ex-dividend date set for October 10th.

Concurrent Investment Advisors LLC grew its stake in AT&T Inc. (NYSE:T - Free Report) by 28.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 401,469 shares of the technology company's stock after purchasing an additional 87,816 shares during the period. Concurrent Investment Advisors LLC's holdings in AT&T were worth $11,619,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of T. CHURCHILL MANAGEMENT Corp grew its holdings in AT&T by 1.5% during the second quarter. CHURCHILL MANAGEMENT Corp now owns 324,104 shares of the technology company's stock worth $9,380,000 after acquiring an additional 4,793 shares during the period. Capstone Wealth Management LLC acquired a new position in AT&T during the first quarter worth $201,000. Kickstand Ventures LLC. acquired a new position in AT&T during the second quarter worth $489,000. ASR Vermogensbeheer N.V. grew its holdings in AT&T by 1.4% during the second quarter. ASR Vermogensbeheer N.V. now owns 722,568 shares of the technology company's stock worth $20,910,000 after acquiring an additional 9,970 shares during the period. Finally, Simplicity Wealth LLC grew its holdings in AT&T by 180.5% during the second quarter. Simplicity Wealth LLC now owns 114,091 shares of the technology company's stock worth $3,302,000 after acquiring an additional 73,417 shares during the period. Institutional investors and hedge funds own 57.10% of the company's stock.

AT&T Stock Down 1.0%

AT&T stock opened at $25.85 on Friday. 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 firm has a market capitalization of $184.82 billion, a price-to-earnings ratio of 14.69, a price-to-earnings-growth ratio of 2.10 and a beta of 0.42. AT&T Inc. has a fifty-two week low of $21.05 and a fifty-two week high of $29.79. The stock's fifty day moving average is $28.45 and its two-hundred day moving average is $27.88.

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 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 business had revenue of $30.85 billion for the quarter, compared to the consensus estimate of $30.44 billion. During the same period in the prior year, the business earned $0.51 earnings per share. The business's revenue was up 3.4% on a year-over-year basis. Analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be given a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Friday, October 10th. AT&T's dividend payout ratio is currently 63.07%.

Analysts Set New Price Targets

T has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a "buy (b)" rating on shares of AT&T in a report on Wednesday. Wells Fargo & Company upped their price objective on AT&T from $30.00 to $31.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. The Goldman Sachs Group assumed coverage on AT&T in a report on Tuesday, September 2nd. They set a "buy" rating and a $32.00 price objective on the stock. Hsbc Global Res lowered AT&T from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 24th. Finally, Morgan Stanley upped their target price on AT&T from $31.00 to $32.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat, the stock currently 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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