Spectrum Strategic Capital Management LLC Buys Shares of 80,873 AT&T Inc. $T

Spectrum Strategic Capital Management LLC bought a new stake in AT&T Inc. (NYSE:T) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 80,873 shares of the technology company’s stock, valued at approximately $2,340,000. AT&T comprises approximately 1.2% of Spectrum Strategic Capital Management LLC’s holdings, making the stock its 19th biggest holding.

A number of other large investors also recently bought and sold shares of T. Kingstone Capital Partners Texas LLC acquired a new position in AT&T in the second quarter valued at about $5,266,758,000. Nuveen LLC acquired a new stake in shares of AT&T during the first quarter worth about $1,072,128,000. GQG Partners LLC lifted its position in shares of AT&T by 17.7% during the first quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock worth $3,222,711,000 after purchasing an additional 17,177,874 shares in the last quarter. Ontario Teachers Pension Plan Board increased its stake in shares of AT&T by 30,527.5% during the first quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company’s stock worth $338,213,000 after buying an additional 11,920,392 shares during the period. Finally, Wellington Management Group LLP increased its stake in shares of AT&T by 350.4% during the first quarter. Wellington Management Group LLP now owns 11,363,940 shares of the technology company’s stock worth $321,372,000 after buying an additional 8,841,126 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

T has been the topic of a number of recent research reports. UBS Group set a $33.00 target price on shares of AT&T in a research note on Thursday, September 18th. Citigroup restated a “buy” rating on shares of AT&T in a research note on Tuesday, August 26th. JPMorgan Chase & Co. upped their target price on shares of AT&T from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Hsbc Global Res lowered shares of AT&T from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 24th. Finally, Wells Fargo & Company increased their price target on shares of AT&T from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $30.74.

AT&T Stock Performance

Shares of AT&T stock opened at $28.07 on Tuesday. The firm has a market capitalization of $200.71 billion, a P/E ratio of 15.95, a P/E/G ratio of 3.62 and a beta of 0.44. AT&T Inc. has a 52 week low of $21.05 and a 52 week high of $29.79. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01. The firm’s 50 day moving average is $28.62 and its two-hundred day moving average is $27.91.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.01. The business had revenue of $30.85 billion during the quarter, compared to the consensus estimate of $30.44 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The company’s revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.51 earnings per share. Research analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend is Friday, October 10th. AT&T’s dividend payout ratio is presently 63.07%.

About AT&T

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.