Davis Investment Partners LLC Makes New $264,000 Investment in AT&T Inc. $T

Key Points

• Davis Investment Partners LLC has made a new investment in AT&T Inc., acquiring 9,156 shares valued at approximately $264,000 during the second quarter.
• AT&T reported a quarterly revenue of $30.85 billion, surpassing the anticipated $30.44 billion, with a 10.29% net margin and an EPS of $0.54.
• The company recently declared a quarterly dividend of $0.2775 per share, resulting in a 3.8% dividend yield for shareholders.

Davis Investment Partners LLC acquired a new position in shares of AT&T Inc. (NYSE:T - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 9,156 shares of the technology company's stock, valued at approximately $264,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Capstone Wealth Management LLC purchased a new stake in shares of AT&T during the first quarter valued at $201,000. Wedmont Private Capital boosted its stake in shares of AT&T by 7.9% during the first quarter. Wedmont Private Capital now owns 123,247 shares of the technology company's stock valued at $3,302,000 after purchasing an additional 9,027 shares during the period. Xponance Inc. boosted its stake in shares of AT&T by 10.2% during the first quarter. Xponance Inc. now owns 1,109,933 shares of the technology company's stock valued at $31,389,000 after purchasing an additional 102,419 shares during the period. NBT Bank N A NY boosted its stake in shares of AT&T by 7.5% during the first quarter. NBT Bank N A NY now owns 129,428 shares of the technology company's stock valued at $3,660,000 after purchasing an additional 8,989 shares during the period. Finally, Park Edge Advisors LLC purchased a new stake in shares of AT&T during the first quarter valued at $1,000,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Stock Performance

Shares of AT&T stock opened at $29.59 on Monday. The company has a market capitalization of $211.58 billion, a PE ratio of 16.81, a P/E/G ratio of 3.68 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 company has a 50-day simple moving average of $28.31 and a two-hundred day simple moving average of $27.74. AT&T Inc. has a one year low of $21.05 and a one 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 (EPS) for the quarter, beating 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 firm had revenue of $30.85 billion for the quarter, compared to the consensus estimate of $30.44 billion. During the same quarter in the prior year, the company posted $0.51 earnings per share. The company's revenue for the quarter was up 3.4% compared to the same quarter last year. Research analysts expect 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. Stockholders of record on Thursday, July 10th were issued a dividend of $0.2775 per share. The ex-dividend date 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%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Raymond James Financial reissued a "strong-buy" rating and set a $31.00 target price (up from $30.00) on shares of AT&T in a research note on Thursday, July 24th. Sanford C. Bernstein lifted their price objective on AT&T from $31.00 to $32.00 and gave the company an "outperform" rating in a report on Thursday, September 4th. Citigroup restated a "buy" rating on shares of AT&T in a report on Tuesday, August 26th. Wells Fargo & Company lifted their price objective on AT&T from $30.00 to $31.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Finally, HSBC downgraded AT&T from a "buy" rating to a "hold" rating and set a $30.00 price objective for the company. 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 given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, AT&T currently has a consensus rating of "Moderate Buy" and a consensus 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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