City Center Advisors LLC Makes New $274,000 Investment in AT&T Inc. $T

Key Points

• City Center Advisors LLC recently made a new investment of $274,000 in AT&T, acquiring 9,456 shares of the company during the second quarter.
• AT&T reported earnings per share (EPS) of $0.54 for the last quarter, exceeding estimates and showing a year-over-year revenue increase of 3.4% to $30.85 billion.
• The company declared a quarterly dividend of $0.2775 per share, translating to an annual yield of 3.8%, with a dividend payout ratio of 63.07%.

City Center Advisors LLC acquired a new stake in shares of AT&T Inc. (NYSE:T - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 9,456 shares of the technology company's stock, valued at approximately $274,000.

A number of other large investors have also recently made changes to their positions in T. Nuveen LLC purchased a new stake in shares of AT&T during the first quarter valued at $1,072,128,000. GQG Partners LLC grew its holdings in shares of AT&T by 17.7% during the first quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company's stock valued at $3,222,711,000 after buying an additional 17,177,874 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of AT&T by 31.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,432,827 shares of the technology company's stock valued at $1,216,665,000 after buying an additional 12,881,578 shares during the last quarter. Ontario Teachers Pension Plan Board grew its holdings in shares of AT&T by 30,527.5% during the first quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company's stock valued at $338,213,000 after buying an additional 11,920,392 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of AT&T by 350.4% during the first quarter. Wellington Management Group LLP now owns 11,363,940 shares of the technology company's stock valued at $321,372,000 after buying an additional 8,841,126 shares during the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Trading Up 0.3%

T stock opened at $29.59 on Friday. The company's 50-day simple moving average is $28.31 and its 200-day simple moving average is $27.73. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01. AT&T Inc. has a 52-week low of $21.05 and a 52-week high of $29.79. The firm has a market cap of $211.58 billion, a P/E ratio of 16.81, a PEG ratio of 3.67 and a beta of 0.44.

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

AT&T Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on T shares. Sanford C. Bernstein boosted their price objective on shares of AT&T from $31.00 to $32.00 and gave the company an "outperform" rating in a report on Thursday, September 4th. Citigroup reaffirmed a "buy" rating on shares of AT&T in a report on Tuesday, August 26th. Morgan Stanley boosted their price objective on AT&T from $31.00 to $32.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. The Goldman Sachs Group assumed coverage on AT&T in a report on Tuesday, September 2nd. They issued a "buy" rating and a $32.00 price objective for the company. Finally, Raymond James Financial reissued a "strong-buy" rating and issued a $31.00 price objective (up previously from $30.00) on shares of AT&T in a report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $30.60.

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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