Chevy Chase Trust Holdings LLC Buys 36,964 Shares of AT&T Inc. $T

Key Points

• Chevy Chase Trust Holdings LLC raised its stake in AT&T, acquiring an additional 36,964 shares in Q2, bringing its total holdings to approximately 3.83 million shares, valued at $110.94 million.
• AT&T recently reported an EPS of $0.54 for the last quarter, exceeding analysts' estimates, with revenues of $30.85 billion—up 3.4% year-over-year.
• The company announced a quarterly dividend of $0.2775 per share, yielding 4.2%, to be paid on November 3rd, with a dividend payout ratio of 63.07%.

Chevy Chase Trust Holdings LLC raised its stake in AT&T Inc. (NYSE:T - Free Report) by 1.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,833,431 shares of the technology company's stock after acquiring an additional 36,964 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 0.05% of AT&T worth $110,939,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Stone House Investment Management LLC acquired a new position in shares of AT&T in the first quarter valued at approximately $25,000. O Brien Wealth Partners LLC acquired a new position in shares of AT&T in the second quarter valued at approximately $26,000. Hager Investment Management Services LLC increased its stake in shares of AT&T by 182.1% in the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company's stock valued at $28,000 after buying an additional 641 shares during the period. Kennebec Savings Bank increased its stake in shares of AT&T by 412.1% in the second quarter. Kennebec Savings Bank now owns 973 shares of the technology company's stock valued at $28,000 after buying an additional 783 shares during the period. Finally, Core Alternative Capital increased its stake in shares of AT&T by 125.4% in the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company's stock valued at $29,000 after buying an additional 568 shares during the period. Institutional investors own 57.10% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Citigroup reaffirmed a "buy" rating on shares of AT&T in a research note on Tuesday, August 26th. Scotiabank set a $30.25 price objective on AT&T and gave the company a "sector perform" rating in a research note on Monday, October 6th. Hsbc Global Res downgraded AT&T from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 24th. Barclays reissued an "equal weight" rating and set a $30.00 target price on shares of AT&T in a research report on Wednesday, October 1st. Finally, The Goldman Sachs Group assumed coverage on shares of AT&T in a research report on Tuesday, September 2nd. They set a "buy" rating and a $32.00 target price for the company. One research 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 data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $30.65.

AT&T Stock Performance

Shares of T stock opened at $26.16 on Friday. The company has a market cap of $187.05 billion, a price-to-earnings ratio of 14.86, a price-to-earnings-growth ratio of 2.11 and a beta of 0.42. AT&T Inc. has a 52 week low of $21.05 and a 52 week high of $29.79. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01. The firm has a 50 day moving average of $28.31 and a 200-day moving average of $27.82.

AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.53 by $0.01. The company had revenue of $30.85 billion during the quarter, compared to the consensus estimate of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The company's quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.51 EPS. On average, equities analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current 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 dividend of $0.2775 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.2%. AT&T's dividend payout ratio (DPR) 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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