AT&T Inc. (NYSE:T) Stock Position Raised by Quent Capital LLC

Quent Capital LLC lifted its holdings in shares of AT&T Inc. (NYSE:T) by 27.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,555 shares of the technology company’s stock after buying an additional 3,523 shares during the period. Quent Capital LLC’s holdings in AT&T were worth $316,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Norges Bank acquired a new stake in shares of AT&T in the fourth quarter valued at approximately $1,118,288,000. Thornburg Investment Management Inc. acquired a new stake in shares of AT&T in the fourth quarter valued at approximately $316,472,000. Kodai Capital Management LP acquired a new stake in shares of AT&T in the fourth quarter valued at approximately $152,109,000. Point72 Asset Management L.P. increased its stake in shares of AT&T by 120.8% in the fourth quarter. Point72 Asset Management L.P. now owns 9,086,854 shares of the technology company’s stock valued at $152,477,000 after purchasing an additional 4,970,954 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of AT&T by 5.6% in the first quarter. Bank of New York Mellon Corp now owns 75,484,518 shares of the technology company’s stock valued at $1,328,528,000 after purchasing an additional 4,014,873 shares during the period. Institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on T shares. Deutsche Bank Aktiengesellschaft increased their price objective on shares of AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a report on Friday, June 28th. JPMorgan Chase & Co. increased their price objective on shares of AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Oppenheimer increased their price objective on shares of AT&T from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. TD Cowen increased their price objective on shares of AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Finally, Royal Bank of Canada increased their price objective on shares of AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a report on Thursday, July 25th. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $22.33.

AT&T Stock Performance

NYSE T traded up $0.27 during midday trading on Tuesday, hitting $19.18. The company had a trading volume of 33,770,712 shares, compared to its average volume of 36,924,227. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. The firm has a fifty day simple moving average of $18.52 and a two-hundred day simple moving average of $17.59. AT&T Inc. has a fifty-two week low of $13.89 and a fifty-two week high of $19.99. The stock has a market cap of $137.53 billion, a price-to-earnings ratio of 10.35, a P/E/G ratio of 3.26 and a beta of 0.58.

AT&T (NYSE:T) last issued its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, meeting the consensus estimate of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The business had revenue of $29.80 billion for the quarter, compared to analyst estimates of $30.05 billion. During the same period in the previous year, the business earned $0.63 EPS. The firm’s revenue was down .3% on a year-over-year basis. Equities analysts forecast that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.79%. The ex-dividend date of this dividend was Wednesday, July 10th. AT&T’s dividend payout ratio is presently 59.68%.

AT&T Company Profile

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, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.