Sonora Investment Management Group LLC Increases Position in AT&T Inc. $T

Key Points

• Sonora Investment Management Group LLC increased its stake in AT&T Inc. by 17.6%, acquiring an additional 30,110 shares, which brought its total holdings to approximately $5.81 million.
• AT&T reported a quarterly earnings per share of $0.54, exceeding the consensus estimate of $0.53, with a year-over-year revenue increase of 3.4%.
• The company announced a quarterly dividend of $0.2775 per share, with a dividend yield of 3.9%, to be paid on November 3rd.

Sonora Investment Management Group LLC increased its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 17.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 200,772 shares of the technology company's stock after buying an additional 30,110 shares during the quarter. Sonora Investment Management Group LLC's holdings in AT&T were worth $5,810,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Capstone Wealth Management LLC purchased a new stake in AT&T in the first quarter valued at $201,000. Wedmont Private Capital boosted its holdings in AT&T by 7.9% in the first quarter. Wedmont Private Capital now owns 123,247 shares of the technology company's stock valued at $3,302,000 after purchasing an additional 9,027 shares during the last quarter. Xponance Inc. boosted its holdings in AT&T by 10.2% in the first quarter. Xponance Inc. now owns 1,109,933 shares of the technology company's stock valued at $31,389,000 after purchasing an additional 102,419 shares during the last quarter. NBT Bank N A NY boosted its holdings in AT&T by 7.5% in the first quarter. NBT Bank N A NY now owns 129,428 shares of the technology company's stock valued at $3,660,000 after purchasing an additional 8,989 shares during the last quarter. Finally, Park Edge Advisors LLC purchased a new stake in AT&T in the first quarter valued at $1,000,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Price Performance

Shares of NYSE:T opened at $28.31 on Friday. AT&T Inc. has a 12 month low of $21.05 and a 12 month high of $29.79. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76. The firm has a market capitalization of $202.43 billion, a P/E ratio of 16.09, a P/E/G ratio of 3.62 and a beta of 0.44. The company's fifty day moving average price is $28.61 and its 200 day moving average price is $27.89.

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 (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 company had revenue of $30.85 billion for the quarter, compared to the consensus estimate of $30.44 billion. During the same period last year, the firm posted $0.51 EPS. AT&T's revenue for the quarter was up 3.4% on a year-over-year basis. As a group, sell-side analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be given 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 yield of 3.9%. AT&T's payout ratio is presently 63.07%.

Analyst Ratings Changes

T has been the subject of a number of analyst reports. The Goldman Sachs Group initiated coverage on shares of AT&T in a research report on Tuesday, September 2nd. They issued a "buy" rating and a $32.00 price objective for the company. Wells Fargo & Company upped their price target on shares of AT&T from $30.00 to $31.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. UBS Group set a $33.00 price objective on shares of AT&T in a report on Thursday, September 18th. Scotiabank increased their price objective on shares of AT&T from $29.50 to $30.00 and gave the company a "sector outperform" rating in a report on Friday, July 11th. Finally, HSBC cut shares of AT&T from a "buy" rating to a "hold" rating and set a $30.00 price target for the company. in a research note on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $30.74.

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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