MJP Associates Inc. ADV Acquires 4,746 Shares of AT&T Inc. $T

MJP Associates Inc. ADV grew its holdings in shares of AT&T Inc. (NYSE:T) by 15.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,862 shares of the technology company’s stock after buying an additional 4,746 shares during the quarter. MJP Associates Inc. ADV’s holdings in AT&T were worth $1,038,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Stone House Investment Management LLC bought a new stake in AT&T during the first quarter worth approximately $25,000. O Brien Wealth Partners LLC bought a new stake in shares of AT&T in the 2nd quarter valued at approximately $26,000. Solstein Capital LLC boosted its holdings in shares of AT&T by 217.3% in the 2nd quarter. Solstein Capital LLC now owns 952 shares of the technology company’s stock worth $28,000 after purchasing an additional 652 shares during the period. Kennebec Savings Bank increased its position in shares of AT&T by 412.1% during the 2nd quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock valued at $28,000 after purchasing an additional 783 shares during the last quarter. Finally, IMA Advisory Services Inc. purchased a new stake in AT&T during the 1st quarter valued at $29,000. Institutional investors own 57.10% of the company’s stock.

AT&T Trading Down 0.7%

NYSE T opened at $25.58 on Friday. The stock has a market cap of $181.31 billion, a PE ratio of 8.30, a PEG ratio of 2.16 and a beta of 0.40. AT&T Inc. has a 12 month low of $21.38 and a 12 month high of $29.79. The company’s 50-day moving average price is $26.75 and its 200-day moving average price is $27.56. 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 announced its quarterly earnings data on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.54. The company had revenue of $30.71 billion during the quarter, compared to analyst estimates of $30.85 billion. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter last year, the business posted $0.60 EPS. Equities research analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Friday, October 10th were paid a $0.2775 dividend. The ex-dividend date of this dividend was Friday, October 10th. This represents a $1.11 annualized dividend and a yield of 4.3%. AT&T’s dividend payout ratio is 36.04%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on T. Weiss Ratings restated a “buy (b)” rating on shares of AT&T in a research report on Wednesday, October 8th. Citigroup reissued a “buy” rating on shares of AT&T in a research note on Tuesday, August 26th. Hsbc Global Res cut shares of AT&T from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 24th. Wall Street Zen downgraded shares of AT&T from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. 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 note on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, AT&T has an average rating of “Moderate Buy” and an average target price of $30.64.

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.