Farther Finance Advisors LLC Grows Holdings in AT&T Inc. (NYSE:T)

Farther Finance Advisors LLC increased its stake in shares of AT&T Inc. (NYSE:T) by 16.2% in the second quarter, HoldingsChannel.com reports. The firm owned 80,051 shares of the technology company’s stock after buying an additional 11,132 shares during the period. Farther Finance Advisors LLC’s holdings in AT&T were worth $1,519,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Confluence Wealth Services Inc. boosted its holdings in AT&T by 8.9% during the 2nd quarter. Confluence Wealth Services Inc. now owns 50,896 shares of the technology company’s stock valued at $973,000 after acquiring an additional 4,163 shares during the period. Graypoint LLC boosted its stake in shares of AT&T by 29.1% in the second quarter. Graypoint LLC now owns 73,598 shares of the technology company’s stock valued at $1,406,000 after purchasing an additional 16,576 shares during the period. Cutter & CO Brokerage Inc. grew its holdings in shares of AT&T by 6.7% in the second quarter. Cutter & CO Brokerage Inc. now owns 70,247 shares of the technology company’s stock valued at $1,342,000 after purchasing an additional 4,397 shares in the last quarter. NBT Bank N A NY increased its stake in AT&T by 18.3% during the 2nd quarter. NBT Bank N A NY now owns 143,868 shares of the technology company’s stock worth $2,749,000 after buying an additional 22,301 shares during the period. Finally, Concurrent Investment Advisors LLC lifted its holdings in AT&T by 50.2% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 350,816 shares of the technology company’s stock worth $6,704,000 after buying an additional 117,223 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on T. Barclays upped their price objective on AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Evercore ISI lifted their price objective on AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. upped their target price 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. Oppenheimer boosted their price target on shares of AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, BNP Paribas upgraded shares of AT&T from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 11th. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, AT&T has an average rating of “Moderate Buy” and an average price target of $22.06.

AT&T Stock Performance

Shares of AT&T stock traded up $0.14 on Friday, hitting $19.90. The stock had a trading volume of 29,362,657 shares, compared to its average volume of 26,170,302. The stock has a market cap of $142.69 billion, a price-to-earnings ratio of 10.70, a P/E/G ratio of 3.36 and a beta of 0.58. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. AT&T Inc. has a 52-week low of $14.12 and a 52-week high of $19.99. The company’s 50 day moving average price is $19.14 and its 200 day moving average price is $17.89.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.57. The company had revenue of $29.80 billion during the quarter, compared to analysts’ expectations of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The firm’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.63 earnings per share. On average, research analysts anticipate that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 5.58%. The ex-dividend date was Wednesday, July 10th. AT&T’s dividend payout ratio is currently 59.68%.

About AT&T

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.