AT&T Inc. $T Shares Bought by Moors & Cabot Inc.

Moors & Cabot Inc. grew its position in shares of AT&T Inc. (NYSE:T) by 6.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 183,552 shares of the technology company’s stock after purchasing an additional 10,572 shares during the period. Moors & Cabot Inc.’s holdings in AT&T were worth $5,312,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Stone House Investment Management LLC acquired a new stake in shares of AT&T during the 1st quarter worth about $25,000. O Brien Wealth Partners LLC purchased a new stake in AT&T in the 2nd quarter valued at about $26,000. Hager Investment Management Services LLC grew its holdings in AT&T by 182.1% in the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock valued at $28,000 after buying an additional 641 shares during the period. Kennebec Savings Bank grew its holdings in AT&T by 412.1% in the 2nd quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock valued at $28,000 after buying an additional 783 shares during the period. Finally, Solstein Capital LLC grew its holdings in AT&T by 217.3% in the 2nd quarter. Solstein Capital LLC now owns 952 shares of the technology company’s stock valued at $28,000 after buying an additional 652 shares during the period. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Stock Performance

Shares of T opened at $24.42 on Wednesday. The business’s 50 day moving average is $27.41 and its two-hundred day moving average is $27.67. AT&T Inc. has a 52-week low of $21.38 and a 52-week high of $29.79. The firm has a market cap of $174.58 billion, a price-to-earnings ratio of 7.93, a PEG ratio of 2.16 and a beta of 0.42. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 1.01.

AT&T (NYSE:T) last announced its earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.54. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The company had revenue of $30.71 billion for the quarter, compared to analyst estimates of $30.85 billion. During the same period in the prior year, the company posted $0.60 EPS. AT&T’s quarterly revenue was up 1.7% on a year-over-year basis. Analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Friday, October 10th were given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend was Friday, October 10th. AT&T’s dividend payout ratio is currently 36.04%.

Wall Street Analyst Weigh In

T has been the subject of several recent analyst reports. Royal Bank Of Canada lowered their price target on AT&T from $31.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday, October 23rd. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $33.00 price objective (up previously from $31.00) on shares of AT&T in a research report on Thursday, September 18th. Scotiabank set a $30.25 price objective on shares of AT&T and gave the company a “sector perform” rating in a research report on Monday, October 6th. TD Cowen increased their price objective on shares of AT&T from $32.00 to $33.00 and gave the company a “hold” rating in a research report on Thursday, October 23rd. Finally, HSBC downgraded shares of AT&T from a “buy” rating to a “hold” rating and set a $30.00 price objective for the company. in a research report on Thursday, July 24th. 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. Based on data from MarketBeat, AT&T currently has an average rating of “Moderate Buy” and a consensus price target of $30.67.

AT&T 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.