AT&T Inc. $T Shares Acquired by Auto Owners Insurance Co

Auto Owners Insurance Co boosted its stake in shares of AT&T Inc. (NYSE:T) by 98.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 144,553 shares of the technology company’s stock after purchasing an additional 71,553 shares during the quarter. Auto Owners Insurance Co’s holdings in AT&T were worth $4,183,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Parcion Private Wealth LLC boosted its position in AT&T by 2.5% during the 2nd quarter. Parcion Private Wealth LLC now owns 14,910 shares of the technology company’s stock valued at $431,000 after purchasing an additional 364 shares during the period. David J Yvars Group boosted 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 position in AT&T by 7.1% during 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 period. Barnes Wealth Management Group Inc boosted its position in AT&T by 2.6% during the 1st quarter. Barnes Wealth Management Group Inc now owns 15,027 shares of the technology company’s stock valued at $425,000 after purchasing an additional 380 shares during the period. Finally, Kathmere Capital Management LLC boosted its position in AT&T by 0.8% during the 2nd quarter. Kathmere Capital Management LLC now owns 50,802 shares of the technology company’s stock valued at $1,470,000 after purchasing an additional 381 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Up 0.7%

T opened at $25.71 on Wednesday. AT&T Inc. has a one year low of $21.38 and a one year high of $29.79. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.96 and a current ratio of 1.01. The stock’s fifty day moving average is $27.83 and its 200-day moving average is $27.75. The company has a market capitalization of $183.80 billion, a PE ratio of 8.35, a P/E/G ratio of 2.07 and a beta of 0.42.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, October 22nd. The technology company reported $0.54 EPS for the quarter, hitting analysts’ consensus estimates of $0.54. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The company had revenue of $30.71 billion for the quarter, compared to the consensus estimate of $30.85 billion. During the same quarter in the previous year, the business earned $0.60 EPS. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. On average, equities analysts predict 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 paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend is Friday, October 10th. AT&T’s payout ratio is currently 36.04%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on T shares. Citigroup reiterated a “buy” rating on shares of AT&T in a research report on Tuesday, August 26th. UBS Group reiterated a “buy” rating on shares of AT&T in a research report on Thursday, October 23rd. The Goldman Sachs Group started coverage on AT&T in a research report on Tuesday, September 2nd. They set a “buy” rating and a $32.00 price target for the company. JPMorgan Chase & Co. boosted their price target on AT&T from $31.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Finally, Morgan Stanley boosted their price target on AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.67.

AT&T 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.