Chris Bulman Inc Takes Position in AT&T Inc. (NYSE:T)

Chris Bulman Inc purchased a new position in shares of AT&T Inc. (NYSE:T) during the second quarter, HoldingsChannel reports. The firm purchased 6,877 shares of the technology company’s stock, valued at approximately $131,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Norges Bank bought a new position in AT&T during the fourth quarter worth $1,118,288,000. Thornburg Investment Management Inc. bought a new stake in AT&T in the 4th quarter valued at about $316,472,000. Kodai Capital Management LP acquired a new position in AT&T during the 4th quarter worth approximately $152,109,000. Bank of New York Mellon Corp lifted its holdings in shares of AT&T by 7.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock worth $1,549,375,000 after purchasing an additional 5,592,123 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its position in AT&T by 120.8% in the 4th 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. 57.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on T. TD Cowen upped their price objective on shares of AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Daiwa America upgraded shares of AT&T to a “hold” rating in a report on Friday, July 26th. UBS Group reiterated a “buy” rating and set a $24.00 price target on shares of AT&T in a research note on Tuesday, June 18th. Royal Bank of Canada increased their price objective on AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 25th. Finally, JPMorgan Chase & Co. raised their target price on AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $22.06.

AT&T Price Performance

T opened at $20.97 on Friday. AT&T Inc. has a fifty-two week low of $14.12 and a fifty-two week high of $21.00. The firm has a 50-day moving average of $19.31 and a 200 day moving average of $18.01. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. The firm has a market cap of $150.36 billion, a P/E ratio of 11.27, a PEG ratio of 3.47 and a beta of 0.59.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The company had revenue of $29.80 billion during the quarter, compared to analyst estimates of $30.05 billion. During the same quarter last year, the business posted $0.63 EPS. AT&T’s quarterly revenue was down .3% compared to the same quarter last year. On average, research analysts expect that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were given a dividend of $0.2775 per share. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.29%. AT&T’s dividend payout ratio is presently 59.68%.

AT&T 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.