Counterpoint Mutual Funds LLC Takes Position in AT&T Inc. $T

Key Points

• Counterpoint Mutual Funds LLC has acquired a new stake in AT&T Inc., purchasing 67,376 shares valued at around $1.95 million during the second quarter.
• AT&T recently announced a quarterly dividend of $0.2775 per share, equating to an annualized payment of $1.11 and a yield of 3.8%.
• Analysts have set a moderate buy rating for AT&T, with an average price target of $30.74, following a recent earnings report where the company beat expectations with a revenue increase of 3.4% year-over-year.

Counterpoint Mutual Funds LLC bought a new stake in AT&T Inc. (NYSE:T - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 67,376 shares of the technology company's stock, valued at approximately $1,950,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital A Wealth Management LLC acquired a new stake in AT&T during the fourth quarter worth approximately $25,000. Stone House Investment Management LLC acquired a new stake in AT&T during the first quarter worth approximately $25,000. O Brien Wealth Partners LLC acquired a new stake in AT&T during the second quarter worth approximately $26,000. Putney Financial Group LLC acquired a new stake in AT&T during the fourth quarter worth approximately $27,000. Finally, Hager Investment Management Services LLC grew its position in AT&T by 182.1% during the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company's stock worth $28,000 after buying an additional 641 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. UBS Group set a $33.00 price target on AT&T in a research report on Thursday. Bank of America assumed coverage on AT&T in a report on Monday, July 7th. They issued a "buy" rating and a $32.00 target price on the stock. Scotiabank raised their target price on AT&T from $29.50 to $30.00 and gave the company a "sector outperform" rating in a report on Friday, July 11th. Sanford C. Bernstein raised their target price on AT&T from $31.00 to $32.00 and gave the company an "outperform" rating in a report on Thursday, September 4th. Finally, Wells Fargo & Company raised their target price on AT&T from $30.00 to $31.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, AT&T has an average rating of "Moderate Buy" and an average price target of $30.74.

AT&T Stock Down 0.3%

Shares of T opened at $28.92 on Tuesday. AT&T Inc. has a 52 week low of $21.05 and a 52 week high of $29.79. The stock has a market capitalization of $206.79 billion, a price-to-earnings ratio of 16.43, a PEG ratio of 3.59 and a beta of 0.44. 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 stock has a fifty day moving average of $28.49 and a 200-day moving average of $27.84.

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

AT&T Announces Dividend

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