Professional Advisory Services Inc. Raises Position in AT&T Inc. (NYSE:T)

Professional Advisory Services Inc. boosted its stake in AT&T Inc. (NYSE:T) by 6.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,104,422 shares of the technology company’s stock after buying an additional 62,352 shares during the period. AT&T accounts for approximately 2.7% of Professional Advisory Services Inc.’s portfolio, making the stock its 25th largest position. Professional Advisory Services Inc.’s holdings in AT&T were worth $17,616,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Kwmg LLC lifted its holdings in shares of AT&T by 11.2% during the second quarter. Kwmg LLC now owns 219,763 shares of the technology company’s stock valued at $3,505,000 after purchasing an additional 22,151 shares during the last quarter. Dakota Community Bank & Trust NA lifted its holdings in shares of AT&T by 2,188.0% during the second quarter. Dakota Community Bank & Trust NA now owns 2,288 shares of the technology company’s stock valued at $36,000 after purchasing an additional 2,188 shares during the last quarter. Delta Financial Group Inc. lifted its holdings in shares of AT&T by 5.0% during the second quarter. Delta Financial Group Inc. now owns 130,231 shares of the technology company’s stock valued at $2,077,000 after purchasing an additional 6,219 shares during the last quarter. AE Wealth Management LLC lifted its holdings in shares of AT&T by 1.6% during the second quarter. AE Wealth Management LLC now owns 2,741,786 shares of the technology company’s stock valued at $43,731,000 after purchasing an additional 43,430 shares during the last quarter. Finally, Fragasso Group Inc. increased its position in shares of AT&T by 17.4% during the second quarter. Fragasso Group Inc. now owns 22,626 shares of the technology company’s stock valued at $361,000 after acquiring an additional 3,359 shares in the last quarter. 53.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on T shares. 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. HSBC reduced their price target on shares of AT&T from $21.00 to $19.00 in a research report on Monday, June 5th. Argus downgraded shares of AT&T from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Barclays cut their target price on shares of AT&T from $18.00 to $17.00 in a research report on Thursday, July 6th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $20.00 target price on shares of AT&T in a research report on Thursday, August 3rd. Nine equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, AT&T presently has an average rating of “Hold” and an average price target of $20.00.

AT&T Price Performance

T stock traded up $0.17 during mid-day trading on Friday, hitting $15.23. The company had a trading volume of 80,594,245 shares, compared to its average volume of 32,218,100. The company has a market capitalization of $108.88 billion, a price-to-earnings ratio of -12.48, a P/E/G ratio of 1.85 and a beta of 0.64. AT&T Inc. has a 12-month low of $13.43 and a 12-month high of $20.50. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.10. The company has a 50-day moving average price of $14.47 and a 200 day moving average price of $16.39.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, July 26th. The technology company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.60 by $0.03. The business had revenue of $29.92 billion for the quarter, compared to analysts’ expectations of $30.07 billion. AT&T had a negative net margin of 7.22% and a positive return on equity of 15.91%. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.65 EPS. On average, research analysts anticipate that AT&T Inc. will post 2.43 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th were issued a $0.2775 dividend. The ex-dividend date of this dividend was Friday, July 7th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 7.29%. AT&T’s dividend payout ratio (DPR) is presently -90.98%.

AT&T 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.