Tectonic Advisors LLC Acquires 21,371 Shares of AT&T Inc. $T

Tectonic Advisors LLC boosted its holdings in AT&T Inc. (NYSE:T) by 5.0% in the second quarter, Holdings Channel reports. The institutional investor owned 446,398 shares of the technology company’s stock after acquiring an additional 21,371 shares during the quarter. AT&T accounts for approximately 0.8% of Tectonic Advisors LLC’s investment portfolio, making the stock its 24th biggest holding. Tectonic Advisors LLC’s holdings in AT&T were worth $12,919,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. CHURCHILL MANAGEMENT Corp grew its position in shares of AT&T by 1.5% during the 2nd quarter. CHURCHILL MANAGEMENT Corp now owns 324,104 shares of the technology company’s stock valued at $9,380,000 after purchasing an additional 4,793 shares in the last quarter. Capstone Wealth Management LLC purchased a new position in shares of AT&T during the 1st quarter valued at $201,000. Kickstand Ventures LLC. purchased a new position in shares of AT&T during the 2nd quarter valued at $489,000. ASR Vermogensbeheer N.V. grew its position in shares of AT&T by 1.4% during the 2nd quarter. ASR Vermogensbeheer N.V. now owns 722,568 shares of the technology company’s stock valued at $20,910,000 after purchasing an additional 9,970 shares in the last quarter. Finally, Xponance Inc. grew its position in shares of AT&T by 10.2% during the 1st quarter. Xponance Inc. now owns 1,109,933 shares of the technology company’s stock valued at $31,389,000 after purchasing an additional 102,419 shares in the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Stock Performance

NYSE T opened at $26.24 on Thursday. AT&T Inc. has a 52-week low of $21.05 and a 52-week 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 company has a market capitalization of $187.63 billion, a P/E ratio of 14.91, a P/E/G ratio of 3.35 and a beta of 0.42. The company has a fifty day moving average of $28.51 and a 200-day 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, topping analysts’ consensus estimates of $0.53 by $0.01. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The company had revenue of $30.85 billion during the quarter, compared to the consensus estimate of $30.44 billion. During the same period in the previous year, the firm posted $0.51 EPS. The firm’s revenue was up 3.4% compared to the same quarter last year. As a group, equities research analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be paid a $0.2775 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.11 annualized dividend and a yield of 4.2%. AT&T’s payout ratio is currently 63.07%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on T. HSBC lowered shares of AT&T from a “buy” rating to a “hold” rating and set a $30.00 price target for the company. in a research report on Thursday, July 24th. Scotiabank set a $30.25 price target on shares of AT&T and gave the company a “sector perform” rating in a research report on Monday. Morgan Stanley boosted their price target on shares of AT&T from $31.00 to $32.00 and gave the company an “overweight” rating in a research report on Wednesday, July 16th. JPMorgan Chase & Co. boosted their price target on shares of AT&T from $31.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of AT&T in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $30.75.

AT&T Company 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.