Motco Increases Stake in AT&T Inc. $T

Motco increased its position in AT&T Inc. (NYSE:T) by 11.9% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 15,182 shares of the technology company’s stock after acquiring an additional 1,615 shares during the quarter. Motco’s holdings in AT&T were worth $416,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in AT&T by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 651,044,650 shares of the technology company’s stock worth $18,411,543,000 after buying an additional 8,185,006 shares during the period. Kingstone Capital Partners Texas LLC bought a new position in AT&T in the 2nd quarter worth approximately $5,266,758,000. GQG Partners LLC boosted its holdings in AT&T by 17.7% in the 1st quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock worth $3,222,711,000 after buying an additional 17,177,874 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in AT&T by 3.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 55,216,190 shares of the technology company’s stock worth $1,561,514,000 after buying an additional 1,783,363 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in AT&T by 2.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 53,339,376 shares of the technology company’s stock worth $1,508,411,000 after buying an additional 1,307,009 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

NYSE:T opened at $25.13 on Thursday. The business has a 50 day moving average of $27.75 and a 200 day moving average of $27.74. The company has a market capitalization 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 1-year low of $21.38 and a 1-year high of $29.79. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.01 and a quick ratio of 0.96.

AT&T (NYSE:T) last released its earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.54. The company had revenue of $30.71 billion during the quarter, compared to the consensus estimate of $30.85 billion. AT&T had a return on equity of 12.72% and a net margin of 17.87%.AT&T’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 EPS. On average, sell-side analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business 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. This represents a $1.11 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend is Friday, October 10th. AT&T’s payout ratio is 36.04%.

Analyst Ratings Changes

Several research analysts have commented on T shares. Royal Bank Of Canada cut their target price on AT&T from $31.00 to $30.00 and set an “outperform” rating for the company in a research note on Thursday, October 23rd. Hsbc Global Res downgraded AT&T from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 24th. The Goldman Sachs Group started coverage on AT&T in a research report on Tuesday, September 2nd. They set a “buy” rating and a $32.00 price target for the company. Wall Street Zen upgraded AT&T from a “hold” rating to a “buy” rating in a research report on Saturday, October 25th. Finally, TD Cowen lifted their price target on AT&T from $32.00 to $33.00 and gave the company a “hold” rating in a research report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $30.67.

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.