New World Advisors LLC Buys 7,033 Shares of AT&T Inc. $T

New World Advisors LLC lifted its stake in shares of AT&T Inc. (NYSE:T) by 68.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,358 shares of the technology company’s stock after acquiring an additional 7,033 shares during the quarter. New World Advisors LLC’s holdings in AT&T were worth $502,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of T. Del Sette Capital Management LLC raised its position in AT&T by 29.6% during the 2nd quarter. Del Sette Capital Management LLC now owns 107,740 shares of the technology company’s stock valued at $3,118,000 after purchasing an additional 24,638 shares in the last quarter. Bahl & Gaynor Inc. increased its stake in shares of AT&T by 12.9% during the second quarter. Bahl & Gaynor Inc. now owns 23,539 shares of the technology company’s stock valued at $681,000 after buying an additional 2,696 shares during the period. AlphaCore Capital LLC raised its holdings in shares of AT&T by 74.6% in the second quarter. AlphaCore Capital LLC now owns 78,207 shares of the technology company’s stock valued at $2,263,000 after acquiring an additional 33,419 shares in the last quarter. Mufg Securities Americas Inc. raised its holdings in shares of AT&T by 25.5% in the second quarter. Mufg Securities Americas Inc. now owns 159,475 shares of the technology company’s stock valued at $4,615,000 after acquiring an additional 32,410 shares in the last quarter. Finally, Evelyn Partners Investment Management Services Ltd lifted its stake in AT&T by 149.5% in the second quarter. Evelyn Partners Investment Management Services Ltd now owns 2,822 shares of the technology company’s stock worth $82,000 after acquiring an additional 1,691 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

T has been the subject of several recent research reports. The Goldman Sachs Group began coverage on shares of AT&T in a report on Tuesday, September 2nd. They issued a “buy” rating and a $32.00 price target for the company. Wells Fargo & Company reduced their price objective on shares of AT&T from $31.00 to $29.00 and set an “overweight” rating for the company in a research note on Thursday, October 16th. Royal Bank Of Canada lowered their target price on AT&T from $31.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday, October 23rd. Barclays cut their price target on AT&T from $30.00 to $28.00 and set an “equal weight” rating on the stock in a report on Thursday, October 23rd. Finally, Citigroup reissued a “buy” rating on shares of AT&T in a research report on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $30.64.

AT&T Stock Performance

Shares of T opened at $25.94 on Friday. AT&T Inc. has a 12 month low of $21.38 and a 12 month high of $29.79. The stock has a fifty day moving average price of $26.37 and a 200-day moving average price of $27.49. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 1.01. The firm has a market cap of $183.90 billion, a PE ratio of 8.42, a P/E/G ratio of 2.16 and a beta of 0.40.

AT&T (NYSE:T) last announced its earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, hitting the consensus estimate of $0.54. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The firm had revenue of $30.71 billion for the quarter, compared to the consensus estimate of $30.85 billion. During the same period in the previous year, the business earned $0.60 EPS. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. Equities research 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 disclosed a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Friday, October 10th were issued a dividend of $0.2775 per share. The ex-dividend date was Friday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.3%. AT&T’s dividend payout ratio is 36.04%.

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.