SCS Capital Management LLC Has $1.01 Million Stock Position in AT&T Inc. $T

SCS Capital Management LLC boosted its position in AT&T Inc. (NYSE:T) by 206.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 35,048 shares of the technology company’s stock after acquiring an additional 23,629 shares during the period. SCS Capital Management LLC’s holdings in AT&T were worth $1,014,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in T. Stone House Investment Management LLC acquired a new position in AT&T during the 1st quarter valued at about $25,000. O Brien Wealth Partners LLC purchased a new stake in AT&T during the second quarter worth about $26,000. Kennebec Savings Bank increased its position in AT&T by 412.1% in the second quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock worth $28,000 after buying an additional 783 shares during the last quarter. Solstein Capital LLC lifted its holdings in AT&T by 217.3% during the second quarter. Solstein Capital LLC now owns 952 shares of the technology company’s stock valued at $28,000 after purchasing an additional 652 shares during the last quarter. Finally, Curio Wealth LLC grew its stake in AT&T by 26,100.0% in the 2nd quarter. Curio Wealth LLC now owns 1,048 shares of the technology company’s stock valued at $30,000 after buying an additional 1,044 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Weiss Ratings reiterated 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 report on Tuesday, August 26th. KeyCorp raised shares of AT&T from a “sector weight” rating to an “overweight” rating and set a $30.00 price objective for the company in a report on Tuesday, November 11th. Sanford C. Bernstein upped their target price on shares of AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, September 4th. Finally, Cowen restated a “hold” rating on shares of AT&T 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 assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $30.64.

AT&T Trading Down 0.5%

Shares of T opened at $25.28 on Friday. AT&T Inc. has a 1-year low of $21.38 and a 1-year high of $29.79. 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’s 50-day moving average price is $25.71 and its 200-day moving average price is $27.36. The firm has a market capitalization of $179.19 billion, a price-to-earnings ratio of 8.21, a PEG ratio of 1.48 and a beta of 0.38.

AT&T (NYSE:T) last issued its quarterly 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. The company had revenue of $30.71 billion for the quarter, compared to analysts’ expectations of $30.85 billion. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.60 earnings per share. Sell-side analysts anticipate that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Friday, October 10th were paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.4%. The ex-dividend date was Friday, October 10th. AT&T’s dividend payout ratio is currently 36.04%.

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.