CHICAGO TRUST Co NA Raises Stake in AT&T Inc. $T

Key Points

• CHICAGO TRUST Co NA has increased its stake in AT&T Inc. by 43.5% to 110,928 shares, worth approximately $3.21 million.
• AT&T reported $0.54 earnings per share for the most recent quarter, exceeding expectations and showing a 3.4% revenue increase year-over-year.
• The company recently paid a quarterly dividend of $0.2775, representing a 3.8% yield, with a payout ratio of 63.07%.

CHICAGO TRUST Co NA increased its stake in AT&T Inc. (NYSE:T - Free Report) by 43.5% during the second quarter, according to its most recent filing with the SEC. The fund owned 110,928 shares of the technology company's stock after buying an additional 33,634 shares during the quarter. CHICAGO TRUST Co NA's holdings in AT&T were worth $3,210,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in T. Capital A Wealth Management LLC purchased a new position in shares of AT&T in the 4th quarter worth about $25,000. Stone House Investment Management LLC bought a new stake in AT&T in the 1st quarter valued at about $25,000. O Brien Wealth Partners LLC bought a new stake in AT&T in the 2nd quarter valued at about $26,000. Putney Financial Group LLC bought a new stake in AT&T in the 4th quarter valued at about $27,000. Finally, 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 acquiring an additional 641 shares during the period. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Stock Down 0.3%

T stock opened at $28.92 on Tuesday. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. The company's 50 day moving average is $28.49 and its 200 day moving average is $27.84. The stock has a market cap of $206.79 billion, a price-to-earnings ratio of 16.43, a price-to-earnings-growth ratio of 3.59 and a beta of 0.44. AT&T Inc. has a 1-year low of $21.05 and a 1-year high of $29.79.

AT&T (NYSE:T - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $30.85 billion for 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 revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.51 earnings per share. Sell-side analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were given a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Thursday, July 10th. AT&T's dividend payout ratio is 63.07%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on T. Raymond James Financial restated a "strong-buy" rating and issued a $33.00 price objective (up from $31.00) on shares of AT&T in a research note on Thursday. JPMorgan Chase & Co. boosted their price objective on AT&T from $31.00 to $33.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Bank of America initiated coverage on AT&T in a research report on Monday, July 7th. They set a "buy" rating and a $32.00 price target on the stock. Morgan Stanley upped their price target on AT&T from $31.00 to $32.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Finally, Citigroup reiterated a "buy" rating on shares of AT&T in a research report on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $30.74.

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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