Callan Family Office LLC Raises Stock Holdings in AT&T Inc. $T

Key Points

• Callan Family Office LLC increased its stake in AT&T Inc. by 257.6% during the 2nd quarter, owning 157,631 shares worth approximately $4.56 million by the end of the quarter.
• Institutional investors collectively own 57.10% of AT&T's stock, with significant investments from firms like Kingstone Capital Partners and Ontario Teachers Pension Plan Board.
• AT&T has announced a quarterly dividend of $0.2775, representing a 4.3% yield, scheduled to be paid on November 3rd.

Callan Family Office LLC boosted its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 257.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 157,631 shares of the technology company's stock after buying an additional 113,552 shares during the period. Callan Family Office LLC's holdings in AT&T were worth $4,562,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of T. Kingstone Capital Partners Texas LLC purchased a new stake in AT&T during the 2nd quarter valued at $5,266,758,000. Nuveen LLC purchased a new stake in AT&T in the first quarter worth $1,072,128,000. GQG Partners LLC increased its stake in AT&T by 17.7% in the first quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company's stock worth $3,222,711,000 after purchasing an additional 17,177,874 shares during the period. Ontario Teachers Pension Plan Board increased its stake in AT&T by 30,527.5% in the first quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company's stock worth $338,213,000 after purchasing an additional 11,920,392 shares during the period. Finally, Wellington Management Group LLP grew its position in shares of AT&T by 350.4% during the 1st quarter. Wellington Management Group LLP now owns 11,363,940 shares of the technology company's stock worth $321,372,000 after buying an additional 8,841,126 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on T shares. The Goldman Sachs Group started coverage on AT&T in a research report on Tuesday, September 2nd. They set a "buy" rating and a $32.00 price target on the stock. HSBC downgraded AT&T from a "buy" rating to a "hold" rating and set a $30.00 price target on the stock. in a research report on Thursday, July 24th. Barclays reissued an "equal weight" rating and set a $30.00 price target on shares of AT&T in a research report on Wednesday, October 1st. Raymond James Financial reissued a "strong-buy" rating and set a $33.00 price target (up previously from $31.00) on shares of AT&T in a research report on Thursday, September 18th. Finally, JPMorgan Chase & Co. increased their price target on AT&T from $31.00 to $33.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $30.75.

AT&T Price Performance

Shares of 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 company has a market cap of $184.82 billion, a PE ratio of 14.69, a P/E/G ratio of 2.12 and a beta of 0.42. The business has a 50-day simple moving average of $28.45 and a two-hundred day simple moving average 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 issued its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.01. The business had revenue of $30.85 billion during 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%.The company's quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the company earned $0.51 earnings per share. As a group, equities analysts expect that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend is Friday, October 10th. AT&T's dividend payout ratio (DPR) is currently 63.07%.

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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