IFM Investors Pty Ltd Buys 62,061 Shares of AT&T Inc. $T

Key Points

• IFM Investors Pty Ltd increased its stake in AT&T Inc. by 4.5% during the second quarter, now owning 1,434,428 shares valued at approximately $41.5 million.
• AT&T reported a quarterly earnings per share (EPS) of $0.54, exceeding analysts' expectations of $0.53, and also posted a year-over-year revenue increase of 3.4%.
• The firm declared a quarterly dividend of $0.2775 per share, representing an annualized yield of 3.8%.

IFM Investors Pty Ltd raised its position in AT&T Inc. (NYSE:T - Free Report) by 4.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,434,428 shares of the technology company's stock after buying an additional 62,061 shares during the period. IFM Investors Pty Ltd's holdings in AT&T were worth $41,512,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. David J Yvars Group grew its stake in shares of AT&T by 2.8% during the second quarter. David J Yvars Group now owns 13,884 shares of the technology company's stock worth $402,000 after purchasing an additional 372 shares in the last quarter. AllSquare Wealth Management LLC raised its holdings in AT&T by 7.1% during the first quarter. AllSquare Wealth Management LLC now owns 5,704 shares of the technology company's stock worth $161,000 after purchasing an additional 378 shares in the last quarter. Next Level Private LLC increased its holdings in AT&T by 0.3% in the first quarter. Next Level Private LLC now owns 113,379 shares of the technology company's stock valued at $3,206,000 after buying an additional 379 shares in the last quarter. Barnes Wealth Management Group Inc increased its holdings in AT&T by 2.6% in the first quarter. Barnes Wealth Management Group Inc now owns 15,027 shares of the technology company's stock valued at $425,000 after buying an additional 380 shares in the last quarter. Finally, Carolinas Wealth Consulting LLC increased its holdings in AT&T by 1.6% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 24,161 shares of the technology company's stock valued at $550,000 after buying an additional 384 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Down 0.5%

T traded down $0.16 during trading hours on Friday, hitting $29.04. 62,059,787 shares of the company's stock were exchanged, compared to its average volume of 28,068,662. The stock has a market cap of $207.65 billion, a price-to-earnings ratio of 16.50, a PEG ratio of 3.61 and a beta of 0.44. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01. The stock's 50-day moving average is $28.45 and its two-hundred day moving average is $27.81. 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 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 analyst estimates of $30.44 billion. During the same period last year, the firm earned $0.51 EPS. The business's quarterly revenue was up 3.4% compared to the same quarter last year. Sell-side analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Citigroup reiterated a "buy" rating on shares of AT&T in a report on Tuesday, August 26th. Bank of America started coverage on shares of AT&T in a research report on Monday, July 7th. They set a "buy" rating and a $32.00 price target on the stock. Scotiabank boosted their target price on shares of AT&T from $29.50 to $30.00 and gave the stock a "sector outperform" rating in a report on Friday, July 11th. HSBC downgraded shares of AT&T from a "buy" rating to a "hold" rating and set a $30.00 price objective on the stock. in a research report on Thursday, July 24th. Finally, The Goldman Sachs Group started coverage on shares of AT&T in a report on Tuesday, September 2nd. They set a "buy" rating and a $32.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $30.74.

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.