Curi RMB Capital LLC Buys 8,713 Shares of AT&T Inc. $T

Key Points

• Curi RMB Capital LLC increased its stake in AT&T Inc. by 57.9%, acquiring an additional 8,713 shares and bringing its total holdings to 23,758 shares worth approximately $672,000.
• AT&T reported a quarterly revenue of $30.85 billion and earnings per share (EPS) of $0.54, surpassing analysts' expectations.
• The company recently declared a quarterly dividend of $0.2775 per share, resulting in an annualized dividend yield of 3.8%.

Curi RMB Capital LLC increased its stake in AT&T Inc. (NYSE:T - Free Report) by 57.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 23,758 shares of the technology company's stock after purchasing an additional 8,713 shares during the quarter. Curi RMB Capital LLC's holdings in AT&T were worth $672,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Minot DeBlois Advisors LLC purchased a new position in shares of AT&T in the fourth quarter valued at $25,000. Capital A Wealth Management LLC purchased a new position in AT&T during the fourth quarter worth about $25,000. Stone House Investment Management LLC purchased a new position in AT&T during the first quarter worth about $25,000. Putney Financial Group LLC purchased a new position in AT&T during the fourth quarter worth about $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. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Price Performance

Shares of T traded down $0.02 during midday trading on Friday, reaching $29.57. The stock had a trading volume of 25,102,560 shares, compared to its average volume of 27,213,860. AT&T Inc. has a 12-month low of $20.65 and a 12-month high of $29.79. 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 $28.23 and its 200 day moving average is $27.64. The company has a market capitalization of $211.40 billion, a price-to-earnings ratio of 16.80, a price-to-earnings-growth ratio of 3.66 and a beta of 0.44.

AT&T (NYSE:T - Get Free Report) last released its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share 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 analyst estimates of $30.44 billion. During the same quarter in the previous year, the company posted $0.51 EPS. AT&T's revenue for the quarter was up 3.4% on a year-over-year basis. On average, equities analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

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

Analyst Ratings Changes

T has been the subject of several recent analyst reports. Morgan Stanley boosted their target price on AT&T from $31.00 to $32.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. UBS Group restated a "buy" rating and set a $31.00 target price (up from $30.00) on shares of AT&T in a research report on Wednesday, June 18th. The Goldman Sachs Group initiated coverage on AT&T in a research report on Tuesday, September 2nd. They set a "buy" rating and a $32.00 target price for the company. Sanford C. Bernstein boosted their target price on AT&T from $31.00 to $32.00 and gave the stock an "outperform" rating in a research report on Thursday. Finally, Citigroup restated 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 issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $30.55.

AT&T Company 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.