Park Edge Advisors LLC Has $1.32 Million Position in AT&T Inc. $T

Key Points

• Park Edge Advisors LLC increased its stake in AT&T by 28.8% in Q2, owning 45,526 shares valued at $1.32 million.
• AT&T's quarterly revenue rose 3.4% year-over-year to $30.85 billion, with earnings per share of $0.54, surpassing analyst expectations.
• The company recently declared a quarterly dividend of $0.2775 per share, yielding 3.8%, with a payout ratio of 63.07%.

Park Edge Advisors LLC grew its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 28.8% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 45,526 shares of the technology company's stock after buying an additional 10,177 shares during the period. Park Edge Advisors LLC's holdings in AT&T were worth $1,318,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of AT&T by 1.3% during the first quarter. Vanguard Group Inc. now owns 651,044,650 shares of the technology company's stock valued at $18,411,543,000 after buying an additional 8,185,006 shares during the last quarter. GQG Partners LLC raised its position in shares of AT&T by 17.7% during the first quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company's stock valued at $3,222,711,000 after buying an additional 17,177,874 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of AT&T by 3.3% during the first 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 valued at $1,561,514,000 after buying an additional 1,783,363 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of AT&T by 31.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,432,827 shares of the technology company's stock valued at $1,216,665,000 after buying an additional 12,881,578 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of AT&T by 2.5% during the first quarter. Dimensional Fund Advisors LP now owns 53,339,376 shares of the technology company's stock valued at $1,508,411,000 after buying an additional 1,307,009 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company's stock.

AT&T Price Performance

Shares of AT&T stock opened at $29.59 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 $211.58 billion, a price-to-earnings ratio of 16.81, a P/E/G ratio of 3.67 and a beta of 0.44. AT&T Inc. has a 1-year low of $21.05 and a 1-year high of $29.79. The firm's 50-day moving average price is $28.31 and its two-hundred day moving average price is $27.73.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.01. The firm 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%. The company's quarterly 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 earnings per share. On average, equities analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were issued 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 3.8%. AT&T's dividend payout ratio is currently 63.07%.

Analyst Ratings Changes

T has been the topic of a number of analyst reports. Scotiabank upped their target price on shares of AT&T from $29.50 to $30.00 and gave the company a "sector outperform" rating in a research note on Friday, July 11th. UBS Group set a $32.00 target price on shares of AT&T in a research note on Thursday, September 4th. Wells Fargo & Company upped their target price 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. Hsbc Global Res cut shares of AT&T from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 24th. Finally, Morgan Stanley upped their target price on shares of AT&T from $31.00 to $32.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, AT&T currently has a consensus rating of "Moderate Buy" and a consensus price target of $30.60.

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.

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