Armstrong Fleming & Moore Inc Purchases New Position in AT&T Inc. $T

Armstrong Fleming & Moore Inc bought a new stake in AT&T Inc. (NYSE:T) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 33,222 shares of the technology company’s stock, valued at approximately $961,000.

Other large investors have also recently added to or reduced their stakes in the company. Tectonic Advisors LLC grew its position in AT&T by 5.0% during the second quarter. Tectonic Advisors LLC now owns 446,398 shares of the technology company’s stock worth $12,919,000 after buying an additional 21,371 shares during the period. Fulton Breakefield Broenniman LLC raised its stake in AT&T by 15.6% during the second quarter. Fulton Breakefield Broenniman LLC now owns 8,694 shares of the technology company’s stock worth $252,000 after purchasing an additional 1,172 shares during the period. Cornerstone Enterprises LLC purchased a new position in AT&T during the second quarter worth approximately $4,520,000. Vontobel Holding Ltd. raised its stake in shares of AT&T by 111.0% in the 2nd quarter. Vontobel Holding Ltd. now owns 1,321,266 shares of the technology company’s stock valued at $38,237,000 after acquiring an additional 695,061 shares during the period. Finally, Maryland State Retirement & Pension System raised its stake in shares of AT&T by 1.6% in the 2nd quarter. Maryland State Retirement & Pension System now owns 340,952 shares of the technology company’s stock valued at $9,867,000 after acquiring an additional 5,238 shares during the period. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Price Performance

Shares of T opened at $26.24 on Thursday. The company has a market cap of $187.63 billion, a price-to-earnings ratio of 14.91, a PEG ratio of 3.35 and a beta of 0.42. AT&T Inc. has a 1-year low of $21.05 and a 1-year high of $29.79. The company’s fifty day simple moving average is $28.51 and its 200 day simple moving average is $27.90. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.53 by $0.01. The business had revenue of $30.85 billion for the quarter, compared to the consensus estimate of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. AT&T’s revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.51 earnings per share. On average, research analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be given a dividend of $0.2775 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.2%. AT&T’s dividend payout ratio (DPR) is 63.07%.

Wall Street Analysts Forecast Growth

T has been the subject of several recent analyst reports. Hsbc Global Res lowered shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 24th. The Goldman Sachs Group started coverage on shares of AT&T in a report on Tuesday, September 2nd. They set a “buy” rating and a $32.00 price target on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of AT&T in a research report on Wednesday. Citigroup reiterated a “buy” rating on shares of AT&T in a research note on Tuesday, August 26th. Finally, JPMorgan Chase & Co. upped their target price on shares of AT&T from $31.00 to $33.00 and gave the company an “overweight” rating in a research note 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 given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $30.75.

AT&T Profile

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.