AlphaCore Capital LLC increased its position in AT&T Inc. (NYSE:T – Free Report) by 58.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 26,292 shares of the technology company’s stock after acquiring an additional 9,648 shares during the period. AlphaCore Capital LLC’s holdings in AT&T were worth $419,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Gratus Capital LLC purchased a new stake in shares of AT&T during the second quarter valued at $301,000. FORVIS Wealth Advisors LLC lifted its stake in AT&T by 31.5% during the 2nd quarter. FORVIS Wealth Advisors LLC now owns 36,868 shares of the technology company’s stock valued at $588,000 after acquiring an additional 8,831 shares during the period. Ontario Teachers Pension Plan Board purchased a new stake in shares of AT&T during the 1st quarter valued at about $868,000. Baker Boyer National Bank bought a new stake in shares of AT&T in the second quarter worth approximately $832,000. Finally, Advisory Resource Group raised its holdings in shares of AT&T by 2.5% during the second quarter. Advisory Resource Group now owns 43,523 shares of the technology company’s stock valued at $694,000 after purchasing an additional 1,043 shares during the last quarter. 53.65% of the stock is owned by institutional investors.
Analysts Set New Price Targets
T has been the subject of a number of research analyst reports. Wells Fargo & Company cut 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 report on Thursday, July 20th. Morgan Stanley cut their price objective on AT&T from $20.00 to $19.00 and set an “equal weight” rating for the company in a report on Monday, October 23rd. Argus downgraded AT&T from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Scotiabank upgraded AT&T from a “sector perform” rating to a “sector outperform” rating and set a $18.50 price target for the company in a research note on Friday, October 20th. Finally, Citigroup increased their price objective on shares of AT&T from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, October 23rd. Seven 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.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $20.90.
AT&T Price Performance
NYSE T opened at $15.62 on Wednesday. The company has a current ratio of 0.69, a quick ratio of 0.64 and a debt-to-equity ratio of 1.08. AT&T Inc. has a 12 month low of $13.43 and a 12 month high of $20.50. The stock has a market cap of $111.68 billion, a price-to-earnings ratio of -10.14, a PEG ratio of 1.90 and a beta of 0.60. The company’s 50 day moving average is $15.05 and its two-hundred day moving average is $15.25.
AT&T (NYSE:T – Get Free Report) last announced its quarterly earnings data on Thursday, October 19th. The technology company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.62 by $0.02. AT&T had a negative net margin of 9.29% and a positive return on equity of 16.26%. The firm had revenue of $30.35 billion for the quarter, compared to the consensus estimate of $30.25 billion. During the same period last year, the firm earned $0.68 EPS. The company’s revenue was up 1.0% on a year-over-year basis. As a group, research analysts anticipate that AT&T Inc. will post 2.44 earnings per share for the current year.
AT&T Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th were given a $0.2775 dividend. The ex-dividend date of this dividend was Friday, October 6th. This represents a $1.11 annualized dividend and a dividend yield of 7.11%. AT&T’s payout ratio is -72.08%.
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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