Crumly & Associates Inc. Buys New Stake in AT&T Inc. $T

Key Points

• Crumly & Associates Inc. has acquired a new stake in AT&T, purchasing 20,378 shares valued at approximately $590,000.
• AT&T recently reported a quarterly earnings per share (EPS) of $0.54, surpassing analyst expectations and showcasing a 3.4% revenue increase year-over-year.
• The company declared a quarterly dividend of $0.2775, translating to an annualized dividend yield of 3.8% with a payout ratio of 63.07%.

Crumly & Associates Inc. bought a new stake in shares of AT&T Inc. (NYSE:T - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 20,378 shares of the technology company's stock, valued at approximately $590,000.

A number of other large investors have also modified their holdings of T. Nuveen LLC acquired a new position in shares of AT&T in the first quarter worth about $1,072,128,000. GQG Partners LLC raised its position in shares of AT&T by 17.7% in the first quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company's stock worth $3,222,711,000 after acquiring an additional 17,177,874 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of AT&T by 31.8% in 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 worth $1,216,665,000 after acquiring an additional 12,881,578 shares during the period. Ontario Teachers Pension Plan Board raised its position in shares of AT&T by 30,527.5% in the first quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company's stock worth $338,213,000 after acquiring an additional 11,920,392 shares during the period. Finally, Wellington Management Group LLP raised its position in shares of AT&T by 350.4% in the first quarter. Wellington Management Group LLP now owns 11,363,940 shares of the technology company's stock worth $321,372,000 after acquiring an additional 8,841,126 shares during the period. Institutional investors and hedge funds own 57.10% of the company's stock.

AT&T Stock Up 0.3%

T stock opened at $29.59 on Friday. The company has a market cap of $211.58 billion, a price-to-earnings ratio of 16.81, a PEG ratio of 3.67 and a beta of 0.44. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. AT&T Inc. has a 12 month low of $21.05 and a 12 month high of $29.79. The firm has a 50-day moving average of $28.31 and a two-hundred day moving average of $27.73.

AT&T (NYSE:T - Get Free Report) last released its quarterly earnings data 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 net margin of 10.29% and a return on equity of 13.36%. The company had revenue of $30.85 billion during the quarter, compared to the consensus estimate of $30.44 billion. During the same quarter in the prior year, the firm earned $0.51 EPS. AT&T's quarterly revenue was up 3.4% on a year-over-year basis. As a group, analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 1st. Stockholders 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 annualized dividend and a dividend yield of 3.8%. AT&T's dividend payout ratio is 63.07%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on T shares. The Goldman Sachs Group started coverage on shares of AT&T in a research report on Tuesday, September 2nd. They set a "buy" rating and a $32.00 price target for the company. Morgan Stanley upped their price target on shares of AT&T from $31.00 to $32.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. HSBC downgraded shares of AT&T from a "buy" rating to a "hold" rating and set a $30.00 price target for the company. in a research report on Thursday, July 24th. Scotiabank upped their price target on shares of AT&T from $29.50 to $30.00 and gave the stock a "sector outperform" rating in a research report on Friday, July 11th. Finally, Bank of America started coverage on shares of AT&T in a research report on Monday, July 7th. They set a "buy" rating and a $32.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $30.60.

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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