GAMMA Investing LLC Purchases 30,530 Shares of AT&T Inc. $T

Key Points

• GAMMA Investing LLC increased its stake in AT&T Inc. by 18.5%, purchasing an additional 30,530 shares, bringing its total holdings to 195,788 shares valued at approximately $5.67 million.
• AT&T recently reported a quarterly earnings per share of $0.54, exceeding analysts' expectations, along with a revenue of $30.85 billion, which is a 3.4% increase year-over-year.
• The company announced a quarterly dividend of $0.2775 per share with an annualized yield of 3.8%, further affirming its commitment to returning value to shareholders.

GAMMA Investing LLC increased its stake in AT&T Inc. (NYSE:T - Free Report) by 18.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 195,788 shares of the technology company's stock after purchasing an additional 30,530 shares during the quarter. GAMMA Investing LLC's holdings in AT&T were worth $5,666,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings 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 worth $18,411,543,000 after purchasing an additional 8,185,006 shares during the period. Kingstone Capital Partners Texas LLC bought a new stake in shares of AT&T in the 2nd quarter worth approximately $5,266,758,000. GQG Partners LLC raised its holdings in shares of AT&T by 17.7% in the 1st quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company's stock worth $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 holdings in shares of AT&T by 3.3% in 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 worth $1,561,514,000 after purchasing an additional 1,783,363 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of AT&T by 2.5% in 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 purchasing an additional 1,307,009 shares during the period. Institutional investors own 57.10% of the company's stock.

Analyst Ratings Changes

T has been the topic of a number of research reports. Bank of America initiated coverage on shares of AT&T in a report on Monday, July 7th. They issued a "buy" rating and a $32.00 price target on the stock. UBS Group set a $33.00 price objective on shares of AT&T in a research note on Thursday. Hsbc Global Res lowered shares of AT&T from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 24th. Sanford C. Bernstein lifted their price objective on shares of AT&T from $31.00 to $32.00 and gave the company an "outperform" rating in a research note on Thursday, September 4th. Finally, Wells Fargo & Company lifted their price objective on shares of AT&T from $30.00 to $31.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $30.74.

AT&T Stock Down 0.5%

NYSE:T opened at $29.04 on Monday. The firm's 50-day moving average price is $28.45 and its 200-day moving average price is $27.83. The company has a market capitalization of $207.65 billion, a PE ratio of 16.50, a P/E/G ratio of 3.59 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. AT&T Inc. has a 1-year low of $21.05 and a 1-year high of $29.79.

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, topping analysts' consensus estimates of $0.53 by $0.01. The firm had revenue of $30.85 billion for the quarter, compared to the consensus estimate of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The company's revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.51 EPS. On average, equities analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

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

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.

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