AT&T Inc. $T Shares Bought by Means Investment CO. Inc.

Means Investment CO. Inc. grew its holdings in shares of AT&T Inc. (NYSE:T) by 68.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 21,073 shares of the technology company’s stock after purchasing an additional 8,575 shares during the period. Means Investment CO. Inc.’s holdings in AT&T were worth $610,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. David J Yvars Group boosted its holdings in shares of AT&T by 2.8% in the second quarter. David J Yvars Group now owns 13,884 shares of the technology company’s stock worth $402,000 after buying an additional 372 shares during the period. AllSquare Wealth Management LLC boosted its position in shares of AT&T by 7.1% in the first quarter. AllSquare Wealth Management LLC now owns 5,704 shares of the technology company’s stock worth $161,000 after buying an additional 378 shares during the period. Barnes Wealth Management Group Inc grew its holdings in shares of AT&T by 2.6% during the first quarter. Barnes Wealth Management Group Inc now owns 15,027 shares of the technology company’s stock valued at $425,000 after buying an additional 380 shares in the last quarter. Kathmere Capital Management LLC raised its position in AT&T by 0.8% during the second quarter. Kathmere Capital Management LLC now owns 50,802 shares of the technology company’s stock valued at $1,470,000 after buying an additional 381 shares during the period. Finally, James J. Burns & Company LLC lifted its stake in AT&T by 1.0% in the 2nd quarter. James J. Burns & Company LLC now owns 40,362 shares of the technology company’s stock worth $1,168,000 after acquiring an additional 383 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

T has been the subject of a number of research analyst reports. Barclays reissued an “equal weight” rating and issued a $30.00 price target on shares of AT&T in a research report on Wednesday, October 1st. JPMorgan Chase & Co. increased their target price on shares of AT&T from $31.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Citigroup reissued a “buy” rating on shares of AT&T in a research note on Tuesday, August 26th. Hsbc Global Res downgraded shares of AT&T from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 24th. Finally, UBS Group set a $33.00 target price on shares of AT&T in a research note on Thursday, September 18th. One 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.75.

AT&T Stock Down 1.0%

T opened at $25.85 on Friday. The business has a 50 day moving average of $28.45 and a 200-day moving average of $27.88. AT&T Inc. has a 1-year low of $21.05 and a 1-year high of $29.79. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $184.82 billion, a price-to-earnings ratio of 14.69, a P/E/G ratio of 2.10 and a beta of 0.42.

AT&T (NYSE:T) last posted 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. 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 analysts’ expectations of $30.44 billion. During the same quarter in the prior year, the firm posted $0.51 EPS. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. As a group, sell-side analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors 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 dividend on an annualized basis and a yield of 4.3%. AT&T’s payout ratio is presently 63.07%.

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.