AT&T Inc. $T Shares Bought by Adell Harriman & Carpenter Inc.

Adell Harriman & Carpenter Inc. boosted its position in shares of AT&T Inc. (NYSE:T) by 12.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 174,639 shares of the technology company’s stock after buying an additional 19,520 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in AT&T were worth $5,054,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Field & Main Bank grew its position in shares of AT&T by 4.0% in the second quarter. Field & Main Bank now owns 27,780 shares of the technology company’s stock valued at $804,000 after purchasing an additional 1,075 shares during the period. Spinnaker Trust lifted its stake in AT&T by 2.0% in the 2nd quarter. Spinnaker Trust now owns 100,540 shares of the technology company’s stock valued at $2,910,000 after buying an additional 1,992 shares in the last quarter. Savvy Advisors Inc. boosted its holdings in AT&T by 69.5% in the 2nd quarter. Savvy Advisors Inc. now owns 91,488 shares of the technology company’s stock worth $2,648,000 after buying an additional 37,514 shares during the last quarter. Assetmark Inc. raised its holdings in shares of AT&T by 3.8% during the second quarter. Assetmark Inc. now owns 10,633,313 shares of the technology company’s stock valued at $307,728,000 after acquiring an additional 387,799 shares during the last quarter. Finally, Keybank National Association OH lifted its position in shares of AT&T by 2.5% in the second quarter. Keybank National Association OH now owns 1,180,563 shares of the technology company’s stock valued at $34,166,000 after acquiring an additional 29,148 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Price Performance

Shares of NYSE T opened at $25.13 on Thursday. The stock has a market cap of $179.66 billion, a price-to-earnings ratio of 8.16, a PEG ratio of 2.21 and a beta of 0.42. AT&T Inc. has a 52 week low of $21.38 and a 52 week high of $29.79. The company’s 50-day moving average price is $27.75 and its 200 day moving average price is $27.74. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 1.01.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.54. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The company had revenue of $30.71 billion for the quarter, compared to analysts’ expectations of $30.85 billion. During the same period last year, the company earned $0.60 EPS. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, 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 announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be given a $0.2775 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.4%. AT&T’s dividend payout ratio (DPR) is currently 36.04%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on T. Wells Fargo & Company reduced their price objective on AT&T from $31.00 to $29.00 and set an “overweight” rating on the stock in a research report on Thursday, October 16th. JPMorgan Chase & Co. upped their target price on shares of AT&T from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. HSBC cut shares of AT&T from a “buy” rating to a “hold” rating and set a $30.00 price target for the company. in a report on Thursday, July 24th. Raymond James Financial restated a “strong-buy” rating and issued a $33.00 target price (up previously from $31.00) on shares of AT&T in a report on Thursday, September 18th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of AT&T in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $30.67.

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.