Sentry Investment Management LLC Raises Position in AT&T Inc. $T

Key Points

• Sentry Investment Management LLC has increased its stake in AT&T Inc. by 153.2% during Q2, owning 22,095 shares worth approximately $625,000.
• AT&T's latest quarterly earnings showed an EPS of $0.54, surpassing analysts' expectations, with a revenue of $30.85 billion, representing a 3.4% increase year-over-year.
• The company announced a quarterly dividend of $0.2775 per share, translating to an annual yield of 4.2%, with a payout ratio of 63.07%.

Sentry Investment Management LLC raised its position in AT&T Inc. (NYSE:T - Free Report) by 153.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,095 shares of the technology company's stock after purchasing an additional 13,370 shares during the period. Sentry Investment Management LLC's holdings in AT&T were worth $625,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of AT&T by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 651,044,650 shares of the technology company's stock worth $18,411,543,000 after acquiring an additional 8,185,006 shares during the period. Kingstone Capital Partners Texas LLC acquired a new position in shares of AT&T during the 2nd quarter worth $5,266,758,000. GQG Partners LLC lifted its holdings in shares of AT&T by 17.7% in 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 purchasing an additional 17,177,874 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in AT&T by 3.3% during the 1st 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. Finally, Dimensional Fund Advisors LP increased its position in AT&T by 2.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 53,339,376 shares of the technology company's stock worth $1,508,411,000 after purchasing an additional 1,307,009 shares in the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Price Performance

NYSE T opened at $26.33 on Monday. The stock has a market capitalization of $188.24 billion, a PE ratio of 14.96, a price-to-earnings-growth ratio of 2.13 and a beta of 0.42. AT&T Inc. has a 12-month low of $21.05 and a 12-month high of $29.79. The company has a 50 day moving average price of $28.27 and a two-hundred day moving average price of $27.80. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01.

AT&T (NYSE:T - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 EPS 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 analyst estimates of $30.44 billion. During the same quarter last year, the firm posted $0.51 earnings per share. The company's quarterly revenue was up 3.4% compared to the same quarter last year. As a group, equities 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 announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be issued a $0.2775 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.2%. AT&T's dividend payout ratio is presently 63.07%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Citigroup reiterated a "buy" rating on shares of AT&T in a research report on Tuesday, August 26th. UBS Group set a $33.00 target price on AT&T in a report on Thursday, September 18th. Hsbc Global Res lowered shares of AT&T from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 24th. HSBC downgraded shares of AT&T from a "buy" rating to a "hold" rating and set a $30.00 price target for the company. in a report on Thursday, July 24th. Finally, JPMorgan Chase & Co. lifted their target price on AT&T from $31.00 to $33.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, AT&T has a consensus rating of "Moderate Buy" and a consensus price target of $30.65.

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.

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