Richelieu Gestion SA Invests $3.12 Million in AT&T Inc. (NYSE:T)

Richelieu Gestion SA bought a new position in shares of AT&T Inc. (NYSE:T) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 195,870 shares of the technology company’s stock, valued at approximately $3,124,000. AT&T makes up 2.6% of Richelieu Gestion SA’s investment portfolio, making the stock its 12th largest position.

A number of other large investors also recently modified their holdings of T. Steward Financial Group LLC lifted its position in shares of AT&T by 159.7% during the first 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 bought a new stake in shares of AT&T during the first quarter worth approximately $31,000. FWL Investment Management LLC bought a new stake in shares of AT&T during the fourth quarter worth approximately $31,000. Lakewood Asset Management LLC bought a new stake in shares of AT&T during the fourth quarter worth approximately $32,000. Finally, Sageworth Trust Co bought a new stake in shares of AT&T during the first quarter worth approximately $32,000. 53.65% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Performance

NYSE:T traded down $0.08 during mid-day trading on Monday, reaching $15.15. 14,745,665 shares of the company’s stock were exchanged, compared to its average volume of 38,937,055. AT&T Inc. has a one year low of $13.43 and a one year high of $20.50. The firm has a market capitalization of $108.31 billion, a PE ratio of -12.48, a price-to-earnings-growth ratio of 1.85 and a beta of 0.64. The business’s fifty day simple moving average is $14.46 and its two-hundred day simple moving average is $16.33. 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 (NYSE:T) last released its quarterly earnings results on Wednesday, July 26th. The technology company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $29.92 billion for the quarter, compared to analyst estimates of $30.07 billion. During the same period last year, the firm earned $0.65 earnings per share. AT&T’s revenue for the quarter was up .9% compared to the same quarter last year. Analysts anticipate that AT&T Inc. will post 2.43 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 7.33%. The ex-dividend date was Friday, July 7th. AT&T’s dividend payout ratio is currently -90.98%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on T shares. StockNews.com started coverage on shares of AT&T in a research note on Thursday, August 17th. They set a “hold” rating for the company. JPMorgan Chase & Co. downgraded shares of AT&T from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $22.00 to $17.00 in a research note on Friday, July 14th. Royal Bank of Canada lowered their target price on shares of 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. Wells Fargo & Company lowered their target price on shares of AT&T from $22.00 to $20.00 and set an “overweight” rating for the company in a research note on Thursday, July 20th. Finally, Moffett Nathanson raised 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 note on Tuesday, June 6th. Nine investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price 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.