Hook Mill Capital Partners LP Makes New Investment in AT&T Inc. $T

Hook Mill Capital Partners LP bought a new stake in AT&T Inc. (NYSE:T) in the second quarter, HoldingsChannel reports. The fund bought 665,927 shares of the technology company’s stock, valued at approximately $19,272,000. AT&T comprises 1.9% of Hook Mill Capital Partners LP’s portfolio, making the stock its 22nd largest position.

A number of other hedge funds also recently modified their holdings of T. O Brien Wealth Partners LLC bought a new stake in AT&T during the 2nd quarter worth approximately $26,000. Solstein Capital LLC boosted its holdings in shares of AT&T by 217.3% in the second quarter. Solstein Capital LLC now owns 952 shares of the technology company’s stock valued at $28,000 after buying an additional 652 shares during the period. Kennebec Savings Bank boosted its holdings in shares of AT&T by 412.1% in the second quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock valued at $28,000 after buying an additional 783 shares during the period. Curio Wealth LLC increased its position in shares of AT&T by 26,100.0% during the second quarter. Curio Wealth LLC now owns 1,048 shares of the technology company’s stock worth $30,000 after acquiring an additional 1,044 shares in the last quarter. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of AT&T during the second quarter worth $32,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Price Performance

NYSE:T opened at $24.57 on Friday. The stock has a market capitalization of $174.20 billion, a PE ratio of 7.98, a P/E/G ratio of 1.42 and a beta of 0.38. AT&T Inc. has a 1-year low of $21.38 and a 1-year high of $29.79. The firm has a fifty day simple moving average of $25.41 and a 200 day simple moving average of $27.26. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 1.01.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 EPS for the quarter, meeting analysts’ consensus estimates of $0.54. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The firm had revenue of $30.71 billion during the quarter, compared to analysts’ expectations of $30.85 billion. During the same quarter last year, the company posted $0.60 earnings per share. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, research analysts expect that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Friday, October 10th were paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date was Friday, October 10th. AT&T’s dividend payout ratio is 36.04%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on T. Morgan Stanley lowered their target price on AT&T from $32.00 to $30.00 and set an “overweight” rating for the company in a report on Wednesday. KeyCorp raised AT&T from a “sector weight” rating to an “overweight” rating and set a $30.00 target price on the stock in a research report on Tuesday, November 11th. Scotiabank set a $30.25 price target on AT&T and gave the stock a “sector perform” rating in a research report on Monday, October 6th. Williams Trading set a $33.00 price objective on shares of AT&T in a report on Thursday, October 23rd. Finally, TD Cowen boosted their price objective on shares of AT&T from $32.00 to $33.00 and gave the stock a “hold” rating in a research report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.55.

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.