AT&T Inc. $T Shares Bought by Grimes & Company Inc.

Grimes & Company Inc. raised its position in AT&T Inc. (NYSE:T) by 6.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,483 shares of the technology company’s stock after purchasing an additional 2,191 shares during the quarter. Grimes & Company Inc.’s holdings in AT&T were worth $1,027,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of T. Brighton Jones LLC raised its stake in shares of AT&T by 26.5% in the 4th quarter. Brighton Jones LLC now owns 48,579 shares of the technology company’s stock valued at $1,106,000 after acquiring an additional 10,188 shares during the period. Hennion & Walsh Asset Management Inc. increased its holdings in AT&T by 24.1% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 14,035 shares of the technology company’s stock valued at $397,000 after purchasing an additional 2,725 shares in the last quarter. UMB Bank n.a. raised its position in AT&T by 1.9% in the first quarter. UMB Bank n.a. now owns 179,776 shares of the technology company’s stock valued at $5,084,000 after purchasing an additional 3,266 shares during the period. Miracle Mile Advisors LLC raised its position in AT&T by 8.2% in the first quarter. Miracle Mile Advisors LLC now owns 37,968 shares of the technology company’s stock valued at $1,074,000 after purchasing an additional 2,890 shares during the period. Finally, Central Bank & Trust Co. lifted its stake in shares of AT&T by 13.2% during the first quarter. Central Bank & Trust Co. now owns 15,197 shares of the technology company’s stock worth $430,000 after purchasing an additional 1,769 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. UBS Group set a $33.00 target price on AT&T in a report on Thursday, September 18th. Raymond James Financial reiterated a “strong-buy” rating and set a $33.00 price objective (up previously from $31.00) on shares of AT&T in a research note on Thursday, September 18th. Morgan Stanley upped their target price on shares of AT&T from $31.00 to $32.00 and gave the company an “overweight” rating in a research note on Wednesday, July 16th. Sanford C. Bernstein lifted their price target on shares of AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, September 4th. Finally, HSBC lowered shares of AT&T from a “buy” rating to a “hold” rating and set a $30.00 price objective on the stock. in a report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $30.75.

AT&T Stock Performance

Shares of AT&T stock opened at $25.88 on Tuesday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81. AT&T Inc. has a 1 year low of $21.05 and a 1 year high of $29.79. The firm’s 50-day simple moving average is $28.56 and its 200-day simple moving average is $27.92. The firm has a market cap of $185.05 billion, a PE ratio of 14.70, a price-to-earnings-growth ratio of 3.46 and a beta of 0.42.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.01. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The firm had revenue of $30.85 billion during the quarter, compared to analyst estimates of $30.44 billion. During the same period in the previous year, the company earned $0.51 earnings per share. AT&T’s quarterly revenue was up 3.4% on a year-over-year basis. Equities analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend is Friday, October 10th. AT&T’s dividend payout ratio is currently 63.07%.

About AT&T

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.