Proffitt & Goodson Inc. raised its stake in shares of AT&T Inc. (NYSE:T – Free Report) by 41.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,557 shares of the technology company’s stock after buying an additional 456 shares during the period. Proffitt & Goodson Inc.’s holdings in AT&T were worth $45,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. CHURCHILL MANAGEMENT Corp increased its stake in shares of AT&T by 1.5% in the second quarter. CHURCHILL MANAGEMENT Corp now owns 324,104 shares of the technology company’s stock worth $9,380,000 after purchasing an additional 4,793 shares during the period. Capstone Wealth Management LLC bought a new position in AT&T during the first quarter valued at about $201,000. Kickstand Ventures LLC. bought a new position in AT&T during the second quarter valued at about $489,000. ASR Vermogensbeheer N.V. increased its stake in AT&T by 1.4% during the second quarter. ASR Vermogensbeheer N.V. now owns 722,568 shares of the technology company’s stock valued at $20,910,000 after acquiring an additional 9,970 shares during the period. Finally, Xponance Inc. increased its stake in AT&T by 10.2% during the first quarter. Xponance Inc. now owns 1,109,933 shares of the technology company’s stock valued at $31,389,000 after acquiring an additional 102,419 shares during the period. 57.10% of the stock is currently owned by institutional investors.
AT&T Stock Up 1.0%
Shares of T opened at $26.13 on Wednesday. The company has a market capitalization of $186.85 billion, a P/E ratio of 14.85, a PEG ratio of 3.31 and a beta of 0.42. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76. AT&T Inc. has a one year low of $21.05 and a one year high of $29.79. The business’s 50 day simple moving average is $28.54 and its 200-day simple moving average is $27.91.
AT&T Announces Dividend
The business 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 dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Friday, October 10th. AT&T’s payout ratio is presently 63.07%.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on T shares. Weiss Ratings restated a “buy (b)” rating on shares of AT&T in a research note on Saturday, September 27th. Bank of America started coverage on AT&T in a research note on Monday, July 7th. They set a “buy” rating and a $32.00 price target on the stock. HSBC downgraded AT&T from a “buy” rating to a “hold” rating and set a $30.00 price objective on the stock. in a report on Thursday, July 24th. The Goldman Sachs Group started coverage on AT&T in a report on Tuesday, September 2nd. They set a “buy” rating and a $32.00 price objective on the stock. Finally, Wells Fargo & Company lifted their price objective on AT&T from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $30.75.
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.
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