AT&T Inc. $T Shares Acquired by OFI Invest Asset Management

Key Points

• OFI Invest Asset Management increased its stake in AT&T Inc. by 682.6% during Q2, acquiring an additional 510,406 shares, bringing their total holdings to 585,185 shares valued at $16.9 million.
• AT&T's recent earnings report revealed $30.85 billion in revenue and $0.54 EPS, beating analyst estimates and showing a year-over-year revenue growth of 3.4%.
• The company announced a quarterly dividend of $0.2775 per share, providing a yield of 4.3%, with a payout scheduled for November 3rd.

OFI Invest Asset Management increased its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 682.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 585,185 shares of the technology company's stock after purchasing an additional 510,406 shares during the period. OFI Invest Asset Management's holdings in AT&T were worth $16,935,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of T. Brighton Jones LLC raised its position in shares of AT&T by 26.5% during the 4th quarter. Brighton Jones LLC now owns 48,579 shares of the technology company's stock worth $1,106,000 after purchasing an additional 10,188 shares during the last quarter. GAMMA Investing LLC grew its stake in AT&T by 15.5% during the 1st quarter. GAMMA Investing LLC now owns 165,258 shares of the technology company's stock valued at $4,673,000 after acquiring an additional 22,195 shares in the last quarter. NorthCrest Asset Manangement LLC grew its stake in AT&T by 10.8% during the 1st quarter. NorthCrest Asset Manangement LLC now owns 87,262 shares of the technology company's stock valued at $2,468,000 after acquiring an additional 8,532 shares in the last quarter. Salem Investment Counselors Inc. grew its stake in AT&T by 4.5% during the 1st quarter. Salem Investment Counselors Inc. now owns 32,427 shares of the technology company's stock valued at $917,000 after acquiring an additional 1,409 shares in the last quarter. Finally, West Branch Capital LLC grew its stake in AT&T by 42.3% during the 1st quarter. West Branch Capital LLC now owns 6,041 shares of the technology company's stock valued at $171,000 after acquiring an additional 1,797 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Hsbc Global Res cut shares of AT&T from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 24th. HSBC cut shares of AT&T from a "buy" rating to a "hold" rating and set a $30.00 price objective for the company. in a research note on Thursday, July 24th. JPMorgan Chase & Co. upped their price objective on shares of AT&T from $31.00 to $33.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. The Goldman Sachs Group assumed coverage on shares of AT&T in a research note on Tuesday, September 2nd. They set a "buy" rating and a $32.00 price objective for the company. Finally, Wells Fargo & Company upped their price objective on shares of AT&T from $30.00 to $31.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $30.75.

AT&T Stock Performance

NYSE:T 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 stock has a market capitalization of $184.82 billion, a P/E ratio of 14.69, a PEG ratio of 2.10 and a beta of 0.42. The company has a 50 day moving average price of $28.45 and a 200 day moving average price of $27.88. AT&T Inc. has a fifty-two week low of $21.05 and a fifty-two week high of $29.79.

AT&T (NYSE:T - Get Free Report) last released its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.53 by $0.01. The company 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 firm's quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.51 EPS. Equities research analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a yield of 4.3%. AT&T's dividend payout ratio is 63.07%.

AT&T 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.

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