LGT Fund Management Co Ltd. Takes Position in AT&T Inc. $T

Key Points

• LGT Fund Management Co Ltd. acquired 163,600 shares of AT&T Inc. valued at approximately $4.735 million in the second quarter, marking a significant new stake in the company.
• AT&T reported a quarterly EPS of $0.54, exceeding analysts' estimates, with a revenue of $30.85 billion, reflecting a year-over-year increase of 3.4%.
• The company declared a quarterly dividend of $0.2775 per share, with an expected annual yield of 4.1%, to be paid on November 3rd to investors on record by October 10th.

LGT Fund Management Co Ltd. bought a new stake in AT&T Inc. (NYSE:T - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 163,600 shares of the technology company's stock, valued at approximately $4,735,000.

Other large investors also recently made changes to their positions in the company. Stone House Investment Management LLC acquired a new position in AT&T during the 1st quarter valued at about $25,000. O Brien Wealth Partners LLC acquired a new position in AT&T during the 2nd quarter valued at about $26,000. Hager Investment Management Services LLC boosted its stake in AT&T by 182.1% during the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company's stock valued at $28,000 after purchasing an additional 641 shares during the last quarter. Kennebec Savings Bank boosted its stake in AT&T by 412.1% during the 2nd quarter. Kennebec Savings Bank now owns 973 shares of the technology company's stock valued at $28,000 after purchasing an additional 783 shares during the last quarter. Finally, Core Alternative Capital boosted its stake in AT&T by 125.4% during the 1st quarter. Core Alternative Capital now owns 1,021 shares of the technology company's stock valued at $29,000 after purchasing an additional 568 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Trading Up 0.2%

NYSE:T opened at $27.06 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $193.49 billion, a PE ratio of 15.38, a price-to-earnings-growth ratio of 3.46 and a beta of 0.42. The firm's 50 day moving average is $28.60 and its 200 day moving average is $27.91. AT&T Inc. has a 12 month low of $21.05 and a 12 month high of $29.79.

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

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend is Friday, October 10th. AT&T's payout ratio is 63.07%.

Analyst Ratings Changes

T has been the subject of a number of analyst reports. Wells Fargo & Company lifted their price target on AT&T from $30.00 to $31.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Citigroup reiterated a "buy" rating on shares of AT&T in a research note on Tuesday, August 26th. Sanford C. Bernstein lifted their price target on AT&T from $31.00 to $32.00 and gave the company an "outperform" rating in a research note on Thursday, September 4th. Barclays reiterated an "equal weight" rating and set a $30.00 price target on shares of AT&T in a research note on Wednesday. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of AT&T in a research note on Saturday, September 27th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $30.74.

AT&T 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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