Headlands Technologies LLC Grows Stock Position in AT&T Inc. (NYSE:T)

Headlands Technologies LLC lifted its holdings in shares of AT&T Inc. (NYSE:T) by 30.1% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 315,146 shares of the technology company’s stock after acquiring an additional 73,000 shares during the period. Headlands Technologies LLC’s holdings in AT&T were worth $6,022,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Frank Rimerman Advisors LLC purchased a new position in AT&T during the fourth quarter valued at approximately $25,000. Pineridge Advisors LLC acquired a new stake in AT&T during the fourth quarter valued at $25,000. Strategic Financial Concepts LLC boosted its stake in shares of AT&T by 227.6% during the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $25,000 after acquiring an additional 91,578 shares in the last quarter. Riggs Asset Managment Co. Inc. increased its stake in shares of AT&T by 356.5% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after purchasing an additional 1,116 shares in the last quarter. Finally, First Pacific Financial increased its position in shares of AT&T by 166.7% in the first quarter. First Pacific Financial now owns 1,600 shares of the technology company’s stock valued at $28,000 after buying an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on T shares. Moffett Nathanson boosted their price target on shares of AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. JPMorgan Chase & Co. raised their target price on shares of AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. The Goldman Sachs Group assumed coverage on shares of AT&T in a research report on Monday, July 1st. They set a “buy” rating and a $22.00 price target on the stock. Oppenheimer lifted their target price on AT&T from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, Barclays upped their target price on shares of AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, AT&T presently has an average rating of “Moderate Buy” and an average price target of $22.06.

AT&T Stock Down 0.4 %

NYSE:T traded down $0.08 on Tuesday, reaching $21.42. The stock had a trading volume of 1,572,261 shares, compared to its average volume of 35,791,992. The company has a 50-day moving average of $19.36 and a 200 day moving average of $18.05. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. The stock has a market cap of $153.58 billion, a P/E ratio of 11.56, a price-to-earnings-growth ratio of 3.57 and a beta of 0.59. AT&T Inc. has a 12-month low of $14.12 and a 12-month high of $21.60.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, meeting analysts’ consensus estimates of $0.57. The firm had revenue of $29.80 billion for the quarter, compared to the consensus estimate of $30.05 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The firm’s revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.63 EPS. On average, research analysts predict that AT&T Inc. will post 2.2 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were given a dividend of $0.2775 per share. The ex-dividend date was Wednesday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 5.18%. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

About AT&T

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.