Raleigh Capital Management Inc. grew its holdings in AT&T Inc. (NYSE:T – Free Report) by 3.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 149,322 shares of the technology company’s stock after purchasing an additional 5,326 shares during the period. AT&T makes up 1.4% of Raleigh Capital Management Inc.’s investment portfolio, making the stock its 13th largest position. Raleigh Capital Management Inc.’s holdings in AT&T were worth $2,874,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Ontario Teachers Pension Plan Board acquired a new position in AT&T during the 1st quarter worth about $868,000. Point72 Europe London LLP acquired a new position in AT&T during the 4th quarter worth about $28,443,000. Great Lakes Advisors LLC lifted its stake in AT&T by 195.8% during the 1st quarter. Great Lakes Advisors LLC now owns 416,107 shares of the technology company’s stock worth $8,010,000 after acquiring an additional 275,431 shares in the last quarter. Hills Bank & Trust Co lifted its stake in AT&T by 147.1% during the 1st quarter. Hills Bank & Trust Co now owns 38,395 shares of the technology company’s stock worth $739,000 after acquiring an additional 22,854 shares in the last quarter. Finally, Atria Investments Inc lifted its stake in AT&T by 21.9% during the 1st quarter. Atria Investments Inc now owns 447,498 shares of the technology company’s stock worth $8,618,000 after acquiring an additional 80,329 shares in the last quarter. Institutional investors and hedge funds own 53.65% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on T shares. Royal Bank of Canada decreased their target price on AT&T from $19.00 to $14.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 10th. Wells Fargo & Company cut their price target on AT&T from $22.00 to $20.00 and set an “overweight” rating on the stock in a report on Thursday, July 20th. Morgan Stanley restated an “equal weight” rating and set a $20.00 price target on shares of AT&T in a report on Thursday, August 3rd. Barclays cut their price target on AT&T from $18.00 to $17.00 in a report on Thursday, July 6th. Finally, StockNews.com began coverage on AT&T in a report on Thursday, August 17th. They set a “hold” rating on the stock. Nine equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $20.00.
AT&T Stock Up 1.0 %
AT&T stock opened at $14.60 on Wednesday. AT&T Inc. has a twelve month low of $13.43 and a twelve month high of $20.50. The stock has a 50 day moving average of $14.52 and a two-hundred day moving average of $16.42. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 1.10. The stock has a market capitalization of $104.38 billion, a price-to-earnings ratio of -11.85, a PEG ratio of 1.79 and a beta of 0.64.
AT&T (NYSE:T – Get Free Report) last posted its quarterly earnings results on Wednesday, July 26th. The technology company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.60 by $0.03. The business had revenue of $29.92 billion during the quarter, compared to analysts’ expectations of $30.07 billion. AT&T had a positive return on equity of 15.91% and a negative net margin of 7.22%. The company’s quarterly revenue was up .9% compared to the same quarter last year. During the same period last year, the firm earned $0.65 EPS. As a group, research analysts expect that AT&T Inc. will post 2.43 earnings per share for the current year.
AT&T Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Monday, July 10th were paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 7.60%. The ex-dividend date was Friday, July 7th. AT&T’s payout ratio is currently -90.98%.
AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.
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