Grandview Asset Management LLC grew its position in AT&T Inc. (NYSE:T – Free Report) by 24.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,165 shares of the technology company’s stock after buying an additional 2,569 shares during the period. Grandview Asset Management LLC’s holdings in AT&T were worth $210,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of T. Steward Financial Group LLC boosted its stake in AT&T by 159.7% in the 1st quarter. Steward Financial Group LLC now owns 1,561 shares of the technology company’s stock worth $30,000 after purchasing an additional 960 shares in the last quarter. Carmel Capital Partners LLC acquired a new stake in AT&T in the 1st quarter worth approximately $31,000. Grey Fox Wealth Advisors LLC boosted its stake in AT&T by 41,000.0% in the 1st quarter. Grey Fox Wealth Advisors LLC now owns 1,644 shares of the technology company’s stock worth $32,000 after purchasing an additional 1,640 shares in the last quarter. Sageworth Trust Co acquired a new stake in AT&T in the 1st quarter worth approximately $32,000. Finally, FWL Investment Management LLC acquired a new stake in AT&T in the 4th quarter worth approximately $31,000. 53.65% of the stock is currently owned by institutional investors.
AT&T Price Performance
AT&T stock traded up $0.21 during trading on Friday, reaching $15.27. The company had a trading volume of 12,820,705 shares, compared to its average volume of 38,685,133. The firm’s 50-day simple moving average is $14.49 and its 200 day simple moving average is $16.40. AT&T Inc. has a 1-year low of $13.43 and a 1-year high of $20.50. The firm has a market capitalization of $109.17 billion, a PE ratio of -12.34, a price-to-earnings-growth ratio of 1.79 and a beta of 0.64. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.63 and a current ratio of 0.68.
AT&T Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were paid a dividend of $0.2775 per share. The ex-dividend date was Friday, July 7th. This represents a $1.11 annualized dividend and a yield of 7.27%. AT&T’s dividend payout ratio (DPR) is presently -90.98%.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on T. Royal Bank of Canada reduced their price target on shares of AT&T from $19.00 to $14.00 and set a “sector perform” rating for the company in a research report on Thursday, August 10th. Argus lowered shares of AT&T from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. HSBC reduced their price target on shares of AT&T from $21.00 to $19.00 in a research report on Monday, June 5th. JPMorgan Chase & Co. lowered shares of AT&T from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $22.00 to $17.00 in a research report on Friday, July 14th. Finally, StockNews.com assumed coverage on shares of AT&T in a report on Thursday, August 17th. They set a “hold” rating for the company. Nine equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, AT&T has a consensus rating of “Hold” and an average target price of $20.00.
AT&T Company Profile
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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