Copperwynd Financial LLC Takes Position in AT&T Inc. $T

Copperwynd Financial LLC bought a new stake in AT&T Inc. (NYSE:T) during the 2nd quarter, HoldingsChannel reports. The fund bought 98,156 shares of the technology company’s stock, valued at approximately $2,841,000.

A number of other hedge funds have also recently made changes to their positions in the stock. US Bancorp DE grew its holdings in shares of AT&T by 4.0% in the second quarter. US Bancorp DE now owns 2,082,644 shares of the technology company’s stock worth $60,272,000 after purchasing an additional 80,536 shares during the last quarter. Insight Inv LLC lifted its stake in AT&T by 0.7% in the second quarter. Insight Inv LLC now owns 60,066 shares of the technology company’s stock worth $1,738,000 after acquiring an additional 399 shares during the period. Armstrong Fleming & Moore Inc purchased a new stake in AT&T in the second quarter worth about $961,000. Tectonic Advisors LLC lifted its stake in AT&T by 5.0% in the second quarter. Tectonic Advisors LLC now owns 446,398 shares of the technology company’s stock worth $12,919,000 after acquiring an additional 21,371 shares during the period. Finally, Fulton Breakefield Broenniman LLC lifted its stake in AT&T by 15.6% in the second quarter. Fulton Breakefield Broenniman LLC now owns 8,694 shares of the technology company’s stock worth $252,000 after acquiring an additional 1,172 shares during the period. 57.10% of the stock is currently owned by institutional investors.

AT&T Stock Performance

T stock opened at $26.24 on Thursday. AT&T Inc. has a one year low of $21.05 and a one year high of $29.79. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81. The firm 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. The firm has a 50-day simple moving average of $28.51 and a two-hundred day simple moving average of $27.90.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.01. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The firm had revenue of $30.85 billion for the quarter, compared to the consensus estimate of $30.44 billion. During the same quarter in the prior year, the company posted $0.51 earnings per share. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, equities analysts forecast that AT&T Inc. will post 2.14 EPS 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 issued a dividend of $0.2775 per share. The ex-dividend date is Friday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.2%. AT&T’s dividend payout ratio is 63.07%.

Analyst Ratings Changes

A number of research firms recently weighed in on T. Citigroup reaffirmed a “buy” rating on shares of AT&T in a research note on Tuesday, August 26th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $33.00 price objective (up from $31.00) on shares of AT&T in a research note on Thursday, September 18th. UBS Group set a $33.00 price objective on shares of AT&T in a research note on Thursday, September 18th. Morgan Stanley upped their price objective on shares of AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 16th. Finally, Sanford C. Bernstein increased their price target on shares of AT&T from $31.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $30.75.

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.