Oak Harbor Wealth Partners LLC Boosts Stock Holdings in AT&T Inc. (NYSE:T)

Oak Harbor Wealth Partners LLC lifted its position in shares of AT&T Inc. (NYSE:T) by 6.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,715 shares of the technology company’s stock after purchasing an additional 802 shares during the period. Oak Harbor Wealth Partners LLC’s holdings in AT&T were worth $262,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of T. Norges Bank purchased a new stake in shares of AT&T during the fourth quarter worth about $1,118,288,000. Thornburg Investment Management Inc. bought a new position in AT&T in the fourth quarter worth about $316,472,000. Kodai Capital Management LP bought a new position in AT&T in the fourth quarter worth about $152,109,000. Point72 Asset Management L.P. raised its stake in AT&T by 120.8% in the fourth quarter. Point72 Asset Management L.P. now owns 9,086,854 shares of the technology company’s stock worth $152,477,000 after buying an additional 4,970,954 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in AT&T by 5.6% in the first quarter. Bank of New York Mellon Corp now owns 75,484,518 shares of the technology company’s stock worth $1,328,528,000 after buying an additional 4,014,873 shares in the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Stock Up 1.3 %

Shares of NYSE:T traded up $0.25 during trading on Friday, reaching $19.34. 24,724,429 shares of the stock traded hands, compared to its average volume of 37,142,744. The stock has a 50-day moving average of $18.78 and a two-hundred day moving average of $17.73. AT&T Inc. has a 52-week low of $13.92 and a 52-week high of $19.99. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. The stock has a market cap of $138.67 billion, a P/E ratio of 10.40, a price-to-earnings-growth ratio of 3.31 and a beta of 0.58.

AT&T (NYSE:T) last issued its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The company had revenue of $29.80 billion for the quarter, compared to analysts’ expectations of $30.05 billion. During the same quarter last year, the company posted $0.63 earnings per share. The firm’s quarterly revenue was down .3% on a year-over-year basis. As a group, sell-side analysts expect that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 5.74%. The ex-dividend date of this dividend was Wednesday, July 10th. AT&T’s dividend payout ratio is currently 59.68%.

Analyst Ratings Changes

T has been the subject of a number of research reports. Barclays increased their price target on shares of AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. increased their price target on shares of AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Scotiabank downgraded shares of AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. TD Cowen raised their target price on shares of AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Finally, StockNews.com downgraded shares of AT&T from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, AT&T presently has an average rating of “Moderate Buy” and a consensus price target of $22.06.

AT&T Company Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.