Advisory Resource Group raised its holdings in shares of AT&T Inc. (NYSE:T – Free Report) by 2.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 43,523 shares of the technology company’s stock after acquiring an additional 1,043 shares during the period. Advisory Resource Group’s holdings in AT&T were worth $694,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. BlackRock Inc. increased its position in shares of AT&T by 0.4% in the 1st quarter. BlackRock Inc. now owns 523,127,988 shares of the technology company’s stock valued at $10,070,214,000 after buying an additional 1,985,371 shares in the last quarter. State Street Corp increased its position in shares of AT&T by 0.5% in the 1st quarter. State Street Corp now owns 287,304,512 shares of the technology company’s stock valued at $5,530,602,000 after buying an additional 1,567,008 shares in the last quarter. Newport Trust Co increased its position in shares of AT&T by 0.7% in the 1st quarter. Newport Trust Co now owns 196,653,545 shares of the technology company’s stock valued at $3,785,581,000 after buying an additional 1,337,195 shares in the last quarter. Geode Capital Management LLC increased its position in shares of AT&T by 0.4% in the 1st quarter. Geode Capital Management LLC now owns 134,387,114 shares of the technology company’s stock valued at $2,581,839,000 after buying an additional 530,478 shares in the last quarter. Finally, Morgan Stanley boosted its stake in AT&T by 37.3% in the 4th quarter. Morgan Stanley now owns 109,639,428 shares of the technology company’s stock worth $2,018,462,000 after purchasing an additional 29,769,976 shares during the period. Institutional investors own 53.65% of the company’s stock.
Analyst Ratings Changes
A number of brokerages recently weighed in on T. StockNews.com began coverage on shares of AT&T in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Moffett Nathanson raised shares of AT&T from an “underperform” rating to a “market perform” rating and set a $17.00 target price for the company in a research note on Tuesday, June 6th. Morgan Stanley restated an “equal weight” rating and set a $20.00 price objective on shares of AT&T in a research note on Thursday, August 3rd. Argus downgraded shares of AT&T from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Finally, JPMorgan Chase & Co. downgraded shares of AT&T from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $22.00 to $17.00 in a research note on Friday, July 14th. Nine analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, AT&T currently has a consensus rating of “Hold” and an average price target of $20.00.
AT&T Price Performance
Shares of NYSE T traded down $0.14 during trading hours on Monday, hitting $15.09. 2,189,598 shares of the stock were exchanged, compared to its average volume of 38,874,527. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.63 and a current ratio of 0.68. The company has a market cap of $107.88 billion, a PE ratio of -12.48, a price-to-earnings-growth ratio of 1.85 and a beta of 0.64. The company’s fifty day simple moving average is $14.46 and its two-hundred day simple moving average is $16.33. AT&T Inc. has a 1-year low of $13.43 and a 1-year high of $20.50.
AT&T (NYSE:T – Get Free Report) last issued its earnings results on Wednesday, July 26th. The technology company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.03. AT&T had a negative net margin of 7.22% and a positive return on equity of 15.91%. The firm had revenue of $29.92 billion for the quarter, compared to analyst estimates of $30.07 billion. During the same quarter last year, the business posted $0.65 earnings per share. The company’s quarterly revenue was up .9% on a year-over-year basis. On average, sell-side analysts predict that AT&T Inc. will post 2.43 EPS for the current year.
AT&T Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th were issued a dividend of $0.2775 per share. The ex-dividend date was Friday, July 7th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 7.36%. AT&T’s dividend payout ratio (DPR) is presently -90.98%.
AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.
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