Shell Asset Management Co. Acquires 33,866 Shares of AT&T Inc. $T

Shell Asset Management Co. boosted its stake in shares of AT&T Inc. (NYSE:T) by 27.8% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 155,883 shares of the technology company’s stock after buying an additional 33,866 shares during the quarter. Shell Asset Management Co.’s holdings in AT&T were worth $4,511,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. David J Yvars Group increased its position in AT&T by 2.8% during the 2nd quarter. David J Yvars Group now owns 13,884 shares of the technology company’s stock valued at $402,000 after purchasing an additional 372 shares during the period. AllSquare Wealth Management LLC boosted its stake in shares of AT&T by 7.1% in the 1st quarter. AllSquare Wealth Management LLC now owns 5,704 shares of the technology company’s stock valued at $161,000 after purchasing an additional 378 shares during the last quarter. Barnes Wealth Management Group Inc increased its position in shares of AT&T by 2.6% during the first quarter. Barnes Wealth Management Group Inc now owns 15,027 shares of the technology company’s stock worth $425,000 after buying an additional 380 shares during the period. Kathmere Capital Management LLC lifted its holdings in AT&T by 0.8% in the second quarter. Kathmere Capital Management LLC now owns 50,802 shares of the technology company’s stock valued at $1,470,000 after buying an additional 381 shares during the period. Finally, James J. Burns & Company LLC lifted its holdings in AT&T by 1.0% in the second quarter. James J. Burns & Company LLC now owns 40,362 shares of the technology company’s stock valued at $1,168,000 after buying an additional 383 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Up 1.0%

AT&T stock opened at $26.13 on Wednesday. The firm has a market capitalization of $186.85 billion, a price-to-earnings ratio of 14.85, a price-to-earnings-growth ratio of 3.31 and a beta of 0.42. The firm’s fifty day moving average price is $28.54 and its two-hundred day moving average price is $27.91. AT&T Inc. has a 1-year low of $21.05 and a 1-year high of $29.79. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01.

AT&T (NYSE:T) last announced its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.51 EPS. On average, equities research analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

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 paid a $0.2775 dividend. The ex-dividend date is Friday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.2%. AT&T’s dividend payout ratio is presently 63.07%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on T shares. UBS Group set a $33.00 price objective on AT&T in a research report on Thursday, September 18th. Barclays reiterated an “equal weight” rating and issued a $30.00 target price on shares of AT&T in a report on Wednesday, October 1st. Sanford C. Bernstein raised their price objective on shares of AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, September 4th. JPMorgan Chase & Co. lifted their price objective on shares of AT&T from $31.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Finally, Bank of America assumed coverage on shares of AT&T in a report on Monday, July 7th. They issued a “buy” rating and a $32.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average 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.