AT&T Inc. $T Stake Raised by Denali Advisors LLC

Key Points

• Denali Advisors LLC raised its AT&T stock holdings by 5.9% in the second quarter, owning 401,037 shares worth approximately $11.6 million.
• AT&T recently announced a quarterly dividend of $0.2775 per share, reflecting an annualized yield of 4.3% and a payout ratio of 63.07%.
• Analysts have set a consensus price target of $30.65 for AT&T, with ratings ranging from "Strong Buy" to "Hold" from various research firms.

Denali Advisors LLC increased its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 5.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 401,037 shares of the technology company's stock after buying an additional 22,394 shares during the period. AT&T comprises approximately 1.2% of Denali Advisors LLC's investment portfolio, making the stock its 10th largest holding. Denali Advisors LLC's holdings in AT&T were worth $11,606,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in T. Stone House Investment Management LLC purchased a new position in shares of AT&T during the 1st quarter valued at approximately $25,000. O Brien Wealth Partners LLC acquired a new position in AT&T in the 2nd quarter valued at $26,000. Hager Investment Management Services LLC raised its stake in AT&T by 182.1% in 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. Kennebec Savings Bank raised its stake in AT&T by 412.1% in the 2nd quarter. Kennebec Savings Bank now owns 973 shares of the technology company's stock valued at $28,000 after purchasing an additional 783 shares during the last quarter. Finally, Core Alternative Capital raised its stake in AT&T by 125.4% in the 1st quarter. Core Alternative Capital now owns 1,021 shares of the technology company's stock valued at $29,000 after purchasing an additional 568 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company's stock.

AT&T Stock Down 0.3%

T opened at $26.01 on Wednesday. The business's fifty day moving average is $28.18 and its two-hundred day moving average is $27.78. 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 market cap of $185.98 billion, a price-to-earnings ratio of 14.78, a PEG ratio of 2.12 and a beta of 0.42. AT&T Inc. has a one year low of $21.05 and a one year high of $29.79.

AT&T (NYSE:T - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The technology company reported $0.54 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 the consensus estimate of $30.44 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%.AT&T's quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.51 earnings per share. Analysts anticipate that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

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

Analysts Set New Price Targets

A number of analysts have issued reports on T shares. Barclays reaffirmed an "equal weight" rating and issued a $30.00 target price on shares of AT&T in a research note on Wednesday, October 1st. Sanford C. Bernstein increased their price target on AT&T from $31.00 to $32.00 and gave the stock an "outperform" rating in a report on Thursday, September 4th. JPMorgan Chase & Co. raised their target price on AT&T from $31.00 to $33.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. HSBC cut 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. Finally, Morgan Stanley lifted 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 investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, AT&T presently has an average rating of "Moderate Buy" and a consensus price target of $30.65.

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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