Klingman & Associates LLC Purchases 6,186 Shares of AT&T Inc. $T

Klingman & Associates LLC increased its position in AT&T Inc. (NYSE:T) by 47.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,097 shares of the technology company’s stock after purchasing an additional 6,186 shares during the period. Klingman & Associates LLC’s holdings in AT&T were worth $553,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Stone House Investment Management LLC acquired a new position in shares of AT&T during the first quarter valued at about $25,000. O Brien Wealth Partners LLC acquired a new position in AT&T during the 2nd quarter valued at about $26,000. Hager Investment Management Services LLC increased its holdings in AT&T by 182.1% during the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock worth $28,000 after purchasing an additional 641 shares in the last quarter. Kennebec Savings Bank raised its stake in shares of AT&T by 412.1% in the second quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock worth $28,000 after purchasing an additional 783 shares during the last quarter. Finally, Core Alternative Capital raised its stake in shares of AT&T by 125.4% in the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock worth $29,000 after purchasing an additional 568 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

T has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their target price on AT&T from $31.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. Hsbc Global Res cut AT&T from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 24th. Morgan Stanley lifted their price objective on shares of AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a report on Wednesday, July 16th. HSBC downgraded shares of AT&T from a “buy” rating to a “hold” rating and set a $30.00 target price for the company. in a report on Thursday, July 24th. Finally, Scotiabank set a $30.25 price target on shares of AT&T and gave the stock a “sector perform” rating in a report on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.65.

AT&T Stock Down 1.0%

Shares of NYSE:T opened at $26.08 on Tuesday. AT&T Inc. has a 1 year low of $21.05 and a 1 year high of $29.79. The company has a market capitalization of $186.45 billion, a PE ratio of 14.82, a price-to-earnings-growth ratio of 2.13 and a beta of 0.42. The business has a fifty day moving average price of $28.23 and a two-hundred day moving average price of $27.80. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share 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 for the quarter, compared to the consensus estimate of $30.44 billion. During the same period in the previous year, the firm earned $0.51 EPS. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. Analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

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