AT&T Inc. (NYSE:T) Stock Position Raised by Peak Financial Advisors LLC

Peak Financial Advisors LLC lifted its holdings in shares of AT&T Inc. (NYSE:T) by 40.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 23,469 shares of the technology company’s stock after buying an additional 6,814 shares during the period. Peak Financial Advisors LLC’s holdings in AT&T were worth $374,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of T. Good Life Advisors LLC grew its stake in AT&T by 12.8% during the 2nd quarter. Good Life Advisors LLC now owns 109,600 shares of the technology company’s stock worth $1,748,000 after buying an additional 12,449 shares during the last quarter. Sanders Morris Harris LLC grew its position in AT&T by 130.3% in the 2nd quarter. Sanders Morris Harris LLC now owns 60,627 shares of the technology company’s stock worth $974,000 after purchasing an additional 34,301 shares during the last quarter. Czech National Bank grew its position in AT&T by 0.8% in the 2nd quarter. Czech National Bank now owns 846,172 shares of the technology company’s stock worth $13,496,000 after purchasing an additional 6,911 shares during the last quarter. Pure Financial Advisors LLC bought a new position in AT&T in the 2nd quarter worth about $199,000. Finally, Foster Group Inc. grew its position in AT&T by 18.6% in the 2nd quarter. Foster Group Inc. now owns 20,188 shares of the technology company’s stock worth $322,000 after purchasing an additional 3,166 shares during the last quarter. Institutional investors own 53.65% of the company’s stock.

AT&T Trading Up 1.1 %

NYSE:T opened at $15.23 on Friday. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.10. 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 $108.88 billion, a price-to-earnings ratio of -12.48, a price-to-earnings-growth ratio of 1.85 and a beta of 0.64. The stock has a fifty day simple moving average of $14.46 and a 200 day simple moving average of $16.35.

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

AT&T Dividend Announcement

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 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 is -90.98%.

Analyst Ratings Changes

Several research firms have commented on T. Moffett Nathanson upgraded shares of AT&T from an “underperform” rating to a “market perform” rating and set a $17.00 target price for the company in a research report on Tuesday, June 6th. Royal Bank of Canada decreased their price target on AT&T from $19.00 to $14.00 and set a “sector perform” rating for the company in a research note on Thursday, August 10th. JPMorgan Chase & Co. cut AT&T from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $22.00 to $17.00 in a research note on Friday, July 14th. Citigroup upgraded shares of AT&T from a “neutral” rating to a “buy” rating and set a $17.00 price objective for the company in a report on Tuesday, August 29th. Finally, Barclays decreased their price objective on shares of AT&T from $18.00 to $17.00 in a report on Thursday, July 6th. Nine investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $20.00.

About AT&T

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.