Spectrum Strategic Capital Management LLC Takes $2.34 Million Position in AT&T Inc. $T

Key Points

• Spectrum Strategic Capital Management LLC has acquired a new stake in AT&T Inc. valued at approximately $2.34 million, making it the firm’s 19th biggest position.
• AT&T recently reported a net margin of 10.29% and a revenue increase of 3.4% year-over-year, with earnings per share of $0.54 for the last quarter.
• The company declared a quarterly dividend of $0.2775 per share, representing a 4% yield, scheduled for payment on November 3rd.

Spectrum Strategic Capital Management LLC bought a new stake in shares of AT&T Inc. (NYSE:T - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 80,873 shares of the technology company's stock, valued at approximately $2,340,000. AT&T makes up about 1.2% of Spectrum Strategic Capital Management LLC's investment portfolio, making the stock its 19th biggest position.

Several other institutional investors have also recently made changes to their positions in the company. Stone House Investment Management LLC purchased a new stake in AT&T in the 1st quarter worth $25,000. O Brien Wealth Partners LLC purchased a new stake in AT&T in the 2nd quarter worth $26,000. Hager Investment Management Services LLC increased 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 in the last quarter. Core Alternative Capital increased 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 in the last quarter. Finally, IMA Advisory Services Inc. purchased a new stake in AT&T in the 1st quarter worth $29,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Trading Down 0.8%

Shares of T stock opened at $28.07 on Tuesday. The company's 50-day moving average price is $28.62 and its 200-day moving average price is $27.91. 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 cap of $200.71 billion, a price-to-earnings ratio of 15.95, a PEG ratio of 3.62 and a beta of 0.44. AT&T Inc. has a twelve month low of $21.05 and a twelve month high of $29.79.

AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, beating 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 revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.51 EPS. 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 declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be given a dividend of $0.2775 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.0%. AT&T's payout ratio is presently 63.07%.

Analyst Ratings Changes

T has been the subject of several recent analyst reports. HSBC lowered 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. Raymond James Financial reissued a "strong-buy" rating and issued a $33.00 price target (up previously from $31.00) on shares of 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 report on Thursday, July 24th. Morgan Stanley upped their target price on shares of AT&T from $31.00 to $32.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Finally, UBS Group set a $33.00 target price on shares of AT&T in a report on Thursday, September 18th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $30.74.

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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