Kingstone Capital Partners Texas LLC Makes New $5.27 Billion Investment in AT&T Inc. $T

Key Points

• Kingstone Capital Partners Texas LLC has made a significant investment in AT&T Inc., acquiring approximately $5.27 billion worth of shares, which represents about 2.53% of the company's total shares outstanding.
• AT&T has received mixed ratings from research analysts, with the consensus target price set at $30.74, including several upgrades and a few downgrades in recent months.
• Recently, AT&T declared a quarterly dividend of $0.2775 per share, yielding approximately 3.8%, which indicates a stable income for investors amidst fluctuations in share price.

Kingstone Capital Partners Texas LLC acquired a new stake in AT&T Inc. (NYSE:T - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 181,988,858 shares of the technology company's stock, valued at approximately $5,266,758,000. Kingstone Capital Partners Texas LLC owned 2.53% of AT&T at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in T. Brighton Jones LLC grew its stake in AT&T by 26.5% in the fourth quarter. Brighton Jones LLC now owns 48,579 shares of the technology company's stock worth $1,106,000 after purchasing an additional 10,188 shares during the period. Yoffe Investment Management LLC acquired a new stake in shares of AT&T in the fourth quarter valued at $213,000. Continuum Advisory LLC boosted its holdings in AT&T by 1.8% in the 4th quarter. Continuum Advisory LLC now owns 36,399 shares of the technology company's stock valued at $829,000 after purchasing an additional 643 shares in the last quarter. First Heartland Consultants Inc. grew its stake in shares of AT&T by 7.2% during the 4th quarter. First Heartland Consultants Inc. now owns 37,881 shares of the technology company's stock valued at $863,000 after buying an additional 2,556 shares during the period. Finally, Novem Group bought a new position in AT&T in the 4th quarter worth about $743,000. Institutional investors own 57.10% of the company's stock.

AT&T Trading Down 0.5%

Shares of T stock traded down $0.16 during trading hours on Friday, hitting $29.04. 62,059,787 shares of the company were exchanged, compared to its average volume of 28,068,662. AT&T Inc. has a fifty-two week low of $21.05 and a fifty-two week high of $29.79. 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 $28.45 and a two-hundred day simple moving average of $27.82. The firm has a market cap of $207.65 billion, a P/E ratio of 16.50, a P/E/G ratio of 3.59 and a beta of 0.44.

AT&T (NYSE:T - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping 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 business had revenue of $30.85 billion during the quarter, compared to analysts' expectations of $30.44 billion. During the same period in the previous year, the company earned $0.51 earnings per share. The business's revenue for the quarter was up 3.4% compared to the same quarter last year. Equities analysts anticipate that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were given 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 dividend yield of 3.8%. AT&T's dividend payout ratio (DPR) is presently 63.07%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on T. Morgan Stanley upped their target price on shares of AT&T from $31.00 to $32.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. HSBC downgraded shares of AT&T from a "buy" rating to a "hold" rating and set a $30.00 target price on the stock. in a research note on Thursday, July 24th. JPMorgan Chase & Co. increased their price objective on shares of AT&T from $31.00 to $33.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Scotiabank lifted their target price on AT&T from $29.50 to $30.00 and gave the stock a "sector outperform" rating in a report on Friday, July 11th. Finally, Citigroup reaffirmed a "buy" rating on shares of AT&T in a research report on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, AT&T presently has an average rating of "Moderate Buy" and a consensus target price of $30.74.

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.