Gradient Investments LLC Boosts Position in AT&T Inc. $T

Gradient Investments LLC grew its stake in AT&T Inc. (NYSE:T - Free Report) by 1,869.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 451,621 shares of the technology company's stock after buying an additional 428,686 shares during the quarter. Gradient Investments LLC's holdings in AT&T were worth $13,070,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Adams Asset Advisors LLC increased its position in AT&T by 1.1% in the second quarter. Adams Asset Advisors LLC now owns 437,240 shares of the technology company's stock worth $12,654,000 after buying an additional 4,961 shares in the last quarter. Parallel Advisors LLC increased its position in AT&T by 1.9% in the second quarter. Parallel Advisors LLC now owns 164,326 shares of the technology company's stock worth $4,756,000 after buying an additional 3,139 shares in the last quarter. Park Edge Advisors LLC increased its position in AT&T by 28.8% in the second quarter. Park Edge Advisors LLC now owns 45,526 shares of the technology company's stock worth $1,318,000 after buying an additional 10,177 shares in the last quarter. Veery Capital LLC increased its position in AT&T by 4.0% in the second quarter. Veery Capital LLC now owns 10,541 shares of the technology company's stock worth $305,000 after buying an additional 405 shares in the last quarter. Finally, Peak Financial Advisors LLC increased its position in AT&T by 2.0% in the second quarter. Peak Financial Advisors LLC now owns 25,644 shares of the technology company's stock worth $742,000 after buying an additional 504 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company's stock.

Analyst Upgrades and Downgrades

T has been the subject of a number of analyst reports. Hsbc Global Res cut AT&T from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 24th. The Goldman Sachs Group started coverage on AT&T in a research report on Tuesday, September 2nd. They issued a "buy" rating and a $32.00 price target for the company. Bank of America started coverage on AT&T in a research note on Monday, July 7th. They issued a "buy" rating and a $32.00 price objective for the company. Scotiabank upped their price objective on AT&T from $29.50 to $30.00 and gave the stock a "sector outperform" rating in a research note on Friday, July 11th. Finally, HSBC lowered AT&T from a "buy" rating to a "hold" rating and set a $30.00 price objective for the company. in a research note on Thursday, July 24th. One 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. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $30.60.

AT&T Price Performance

Shares of AT&T stock opened at $29.66 on Tuesday. The stock has a 50 day moving average of $28.33 and a 200 day moving average of $27.76. AT&T Inc. has a 12 month low of $21.05 and a 12 month high of $29.79. The firm has a market cap of $212.08 billion, a PE ratio of 16.85, a PEG ratio of 3.68 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 (NYSE:T - Get Free Report) last announced its quarterly earnings results 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 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 period in the prior year, the company earned $0.51 earnings per share. The firm's revenue was up 3.4% on a year-over-year basis. On average, research analysts expect that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were paid a dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 3.7%. AT&T's dividend payout ratio is presently 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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