Fiduciary Alliance LLC Increases Stake in AT&T Inc. $T

Key Points

• Fiduciary Alliance LLC increased its stake in AT&T Inc. by 9.8%, owning 214,596 shares worth approximately $6.21 million as of its latest filing.
• AT&T reported $0.54 earnings per share for its recent quarter, exceeding expectations, with a revenue of $30.85 billion reflecting a 3.4% increase from the previous year.
• The company announced a quarterly dividend of $0.2775 per share, resulting in an annualized dividend yield of 3.7% and a payout ratio of 63.07%.

Fiduciary Alliance LLC raised its position in AT&T Inc. (NYSE:T - Free Report) by 9.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 214,596 shares of the technology company's stock after purchasing an additional 19,101 shares during the period. Fiduciary Alliance LLC's holdings in AT&T were worth $6,210,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in T. Vanguard Group Inc. grew its position in shares of AT&T by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 651,044,650 shares of the technology company's stock valued at $18,411,543,000 after buying an additional 8,185,006 shares during the last quarter. GQG Partners LLC increased its stake in AT&T by 17.7% in 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 purchasing an additional 17,177,874 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in AT&T by 3.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 55,216,190 shares of the technology company's stock valued at $1,561,514,000 after acquiring an additional 1,783,363 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of AT&T by 31.8% in the 4th 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 purchasing an additional 12,881,578 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in AT&T by 2.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 53,339,376 shares of the technology company's stock worth $1,508,411,000 after buying an additional 1,307,009 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company's stock.

AT&T Stock Up 0.3%

Shares of T opened at $29.66 on Tuesday. AT&T Inc. has a one year low of $21.05 and a one year high of $29.79. The company has a market capitalization of $212.08 billion, a P/E ratio of 16.85, a PEG ratio of 3.68 and a beta of 0.44. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76. The business's 50 day simple moving average is $28.33 and its 200-day simple moving average is $27.76.

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

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors 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 dividend on an annualized basis and a dividend yield of 3.7%. AT&T's dividend payout ratio (DPR) is presently 63.07%.

Analyst Ratings Changes

Several brokerages recently commented on T. Bank of America assumed coverage on shares of AT&T in a research note on Monday, July 7th. They issued a "buy" rating and a $32.00 price objective for the company. Hsbc Global Res downgraded shares of AT&T from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 24th. Sanford C. Bernstein increased their target price on shares of AT&T from $31.00 to $32.00 and gave the stock an "outperform" rating in a research report on Thursday, September 4th. UBS Group set a $32.00 price target on shares of AT&T in a report on Thursday, September 4th. Finally, Citigroup reiterated a "buy" rating on shares of AT&T in a research note on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.