Vicus Capital Purchases 3,754 Shares of AT&T Inc. $T

Vicus Capital grew its position in shares of AT&T Inc. (NYSE:T) by 7.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 55,284 shares of the technology company’s stock after purchasing an additional 3,754 shares during the quarter. Vicus Capital’s holdings in AT&T were worth $1,600,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of T. Kingstone Capital Partners Texas LLC bought a new position in shares of AT&T during the 2nd quarter valued at about $5,266,758,000. Nuveen LLC purchased a new stake in AT&T during the 1st quarter valued at about $1,072,128,000. GQG Partners LLC boosted its holdings in AT&T by 17.7% during the 1st quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock valued at $3,222,711,000 after acquiring an additional 17,177,874 shares during the period. Ontario Teachers Pension Plan Board boosted its holdings in AT&T by 30,527.5% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company’s stock valued at $338,213,000 after acquiring an additional 11,920,392 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in AT&T by 350.4% during the 1st quarter. Wellington Management Group LLP now owns 11,363,940 shares of the technology company’s stock valued at $321,372,000 after acquiring an additional 8,841,126 shares during the period. 57.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on T. JPMorgan Chase & Co. increased their target price on AT&T from $31.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Scotiabank increased their target price on AT&T from $29.50 to $30.00 and gave the company a “sector outperform” rating in a report on Friday, July 11th. UBS Group set a $33.00 target price on AT&T in a report on Thursday, September 18th. Raymond James Financial restated a “strong-buy” rating and set a $33.00 target price (up from $31.00) on shares of AT&T in a report on Thursday, September 18th. Finally, Bank of America began coverage on AT&T in a report on Monday, July 7th. They set a “buy” rating and a $32.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, AT&T currently has an average rating of “Moderate Buy” and a consensus price target of $30.74.

AT&T Trading Down 2.5%

NYSE T opened at $27.55 on Thursday. AT&T Inc. has a fifty-two week low of $21.05 and a fifty-two week high of $29.79. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81. The stock has a 50 day simple moving average of $28.63 and a two-hundred day simple moving average of $27.91. The stock has a market cap of $196.96 billion, a P/E ratio of 15.65, a price-to-earnings-growth ratio of 3.62 and a beta of 0.42.

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

AT&T Announces Dividend

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

AT&T Company Profile

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.