Hobart Private Capital LLC Grows Stake in AT&T Inc. $T

Hobart Private Capital LLC grew its position in shares of AT&T Inc. (NYSE:T) by 67.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,361 shares of the technology company’s stock after purchasing an additional 7,418 shares during the period. Hobart Private Capital LLC’s holdings in AT&T were worth $531,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Stone House Investment Management LLC bought a new position in shares of AT&T in the 1st quarter worth $25,000. O Brien Wealth Partners LLC bought a new stake in AT&T in the second quarter worth $26,000. Hager Investment Management Services LLC raised its stake in shares of AT&T by 182.1% during the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock valued at $28,000 after acquiring an additional 641 shares during the last quarter. Kennebec Savings Bank raised its stake in shares of AT&T by 412.1% during the second quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock valued at $28,000 after acquiring an additional 783 shares during the last quarter. Finally, Core Alternative Capital raised its stake in shares of AT&T by 125.4% during the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock valued at $29,000 after acquiring an additional 568 shares during the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Bank of America assumed coverage on shares of AT&T in a research note on Monday, July 7th. They set a “buy” rating and a $32.00 price objective for the company. Sanford C. Bernstein upped their price objective on shares of AT&T from $31.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, September 4th. JPMorgan Chase & Co. upped 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. Royal Bank Of Canada lowered their price objective on shares of AT&T from $31.00 to $30.00 and set an “outperform” rating for the company in a research note on Thursday. Finally, The Goldman Sachs Group assumed coverage on shares of AT&T in a research note on Tuesday, September 2nd. They set a “buy” rating and a $32.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $30.67.

AT&T Price Performance

Shares of T opened at $25.17 on Friday. The stock has a market cap of $179.95 billion, a PE ratio of 8.17, a price-to-earnings-growth ratio of 1.99 and a beta of 0.42. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 1.01. AT&T Inc. has a fifty-two week low of $21.38 and a fifty-two week high of $29.79. The firm’s 50-day simple moving average is $27.97 and its two-hundred day simple moving average is $27.75.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.54. The business had revenue of $30.71 billion for the quarter, compared to analysts’ expectations of $30.85 billion. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The business’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.60 earnings per share. Analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date is Friday, October 10th. AT&T’s dividend payout ratio is 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.