Chapin Davis Inc. Buys 143,258 Shares of AT&T Inc. $T

Key Points

• Chapin Davis Inc. significantly increased its stake in AT&T by 598.8% in Q2, acquiring an additional 143,258 shares, bringing its total to 167,181 shares valued at approximately $4.8 million.
• Several large investors have recently entered or expanded their positions in AT&T, indicating increased institutional interest, with 57.10% of the stock now owned by institutional investors and hedge funds.
• AT&T announced a quarterly dividend of $0.2775, representing an annual yield of 3.8%, with a payout ratio of 63.07% as of the last SEC filing.

Chapin Davis Inc. boosted its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 598.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 167,181 shares of the technology company's stock after acquiring an additional 143,258 shares during the quarter. AT&T makes up approximately 1.3% of Chapin Davis Inc.'s holdings, making the stock its 22nd biggest holding. Chapin Davis Inc.'s holdings in AT&T were worth $4,838,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Capital A Wealth Management LLC acquired a new stake in shares of AT&T in the 4th quarter valued at approximately $25,000. Stone House Investment Management LLC acquired a new stake in shares of AT&T in the 1st quarter valued at approximately $25,000. O Brien Wealth Partners LLC acquired a new stake in shares of AT&T in the 2nd quarter valued at approximately $26,000. Putney Financial Group LLC acquired a new stake in shares of AT&T in the 4th quarter valued at approximately $27,000. Finally, Hager Investment Management Services LLC raised its position in shares of 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 acquiring an additional 641 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

T has been the topic of a number of analyst reports. Wells Fargo & Company increased 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. Morgan Stanley increased their price target on shares of AT&T from $31.00 to $32.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. JPMorgan Chase & Co. increased their price target on shares of AT&T from $31.00 to $33.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Citigroup restated a "buy" rating on shares of AT&T in a report on Tuesday, August 26th. Finally, Hsbc Global Res downgraded shares of AT&T from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $30.74.

AT&T Trading Down 0.5%

Shares of AT&T stock opened at $29.04 on Monday. The firm has a 50-day moving average of $28.45 and a 200-day moving average of $27.83. The stock has a market cap of $207.65 billion, a PE ratio of 16.50, a PEG ratio of 3.59 and a beta of 0.44. AT&T Inc. has a 52-week low of $21.05 and a 52-week high of $29.79. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81.

AT&T (NYSE:T - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.53 by $0.01. The company had revenue of $30.85 billion during the quarter, compared to analysts' expectations of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. AT&T's quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.51 earnings per share. As a group, sell-side analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

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