AT&T Inc. (NYSE:T) Shares Bought by Parallel Advisors LLC

Parallel Advisors LLC increased its holdings in AT&T Inc. (NYSE:T) by 4.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 134,075 shares of the technology company’s stock after buying an additional 5,246 shares during the period. Parallel Advisors LLC’s holdings in AT&T were worth $2,562,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of T. Frank Rimerman Advisors LLC acquired a new position in shares of AT&T during the fourth quarter valued at $25,000. Pineridge Advisors LLC acquired a new position in AT&T during the 4th quarter valued at about $25,000. Strategic Financial Concepts LLC grew its position in AT&T by 227.6% in the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $25,000 after purchasing an additional 91,578 shares during the last quarter. Riggs Asset Managment Co. Inc. increased its stake in shares of AT&T by 356.5% in the second 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 during the period. Finally, American Capital Advisory LLC raised its holdings in shares of AT&T by 107.5% during the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after buying an additional 807 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

T stock opened at $21.64 on Friday. AT&T Inc. has a one year low of $14.12 and a one year high of $21.86. The firm has a 50-day moving average of $19.59 and a two-hundred day moving average of $18.18. The firm has a market capitalization of $155.16 billion, a PE ratio of 11.63, a P/E/G ratio of 3.65 and a beta of 0.59. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 EPS 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 during the quarter, compared to the consensus estimate of $30.05 billion. During the same quarter in the prior year, the firm earned $0.63 EPS. The firm’s quarterly revenue was down .3% on a year-over-year basis. On average, analysts forecast 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. Investors of record on Wednesday, July 10th were given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 5.13%. The ex-dividend date was Wednesday, July 10th. AT&T’s payout ratio is 59.68%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on T. Barclays increased their price objective on AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Scotiabank cut shares of AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. The Goldman Sachs Group started coverage on shares of AT&T in a research report on Monday, July 1st. They issued a “buy” rating and a $22.00 target price for the company. UBS Group restated a “buy” rating and set a $24.00 price target on shares of AT&T in a research report on Tuesday, June 18th. Finally, BNP Paribas upgraded shares of AT&T from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 11th. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.31.

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.