QRG Capital Management Inc. Grows Stock Holdings in AT&T Inc. $T

Key Points

• QRG Capital Management Inc. increased its holdings in AT&T Inc. by 7.9% in Q2, owning 1,894,508 shares valued at approximately $54.8 million after acquiring an additional 138,261 shares.
• AT&T announced a quarterly dividend of $0.2775 per share, representing a 4.1% annual yield, with the payment scheduled for November 3rd.
• AT&T reported earnings of $0.54 per share, surpassing analyst estimates, and reported a year-over-year revenue increase of 3.4% with $30.85 billion for the quarter.

QRG Capital Management Inc. grew its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 7.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,894,508 shares of the technology company's stock after purchasing an additional 138,261 shares during the period. QRG Capital Management Inc.'s holdings in AT&T were worth $54,827,000 as of its most recent SEC filing.

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

AT&T Trading Up 0.2%

Shares of T stock opened at $27.06 on Friday. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76. AT&T Inc. has a 1 year low of $21.05 and a 1 year high of $29.79. The firm has a fifty day moving average price of $28.60 and a 200-day moving average price of $27.91. The company has a market cap of $193.49 billion, a price-to-earnings ratio of 15.38, a PEG ratio of 3.46 and a beta of 0.42.

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

AT&T Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on T. Weiss Ratings restated a "buy (b)" rating on shares of AT&T in a report on Saturday, September 27th. Raymond James Financial restated a "strong-buy" rating and issued a $33.00 price objective (up from $31.00) on shares of AT&T in a report on Thursday, September 18th. The Goldman Sachs Group began coverage on shares of AT&T in a report on Tuesday, September 2nd. They issued a "buy" rating and a $32.00 price objective for the company. Scotiabank boosted their price objective 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. Finally, Barclays restated an "equal weight" rating and issued a $30.00 price objective on shares of AT&T in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target 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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