AT&T Inc. $T Stock Position Increased by Boothbay Fund Management LLC

by · The Cerbat Gem

Boothbay Fund Management LLC lifted its stake in AT&T Inc. (NYSE:T – Free Report) by 109.8% in the 2nd quarter, Holdings Channel.com reports. The firm owned 1,344,926 shares of the technology company’s stock after buying an additional 703,785 shares during the quarter. AT&T makes up 0.8% of Boothbay Fund Management LLC’s holdings, making the stock its 7th largest holding. Boothbay Fund Management LLC’s holdings in AT&T were worth $38,922,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of T. Vanguard Group Inc. raised its holdings in AT&T by 1.6% in the second quarter. Vanguard Group Inc. now owns 661,355,210 shares of the technology company’s stock worth $19,139,620,000 after buying an additional 10,310,560 shares during the last quarter. State Street Corp increased its position in shares of AT&T by 2.4% during the second quarter. State Street Corp now owns 321,070,509 shares of the technology company’s stock valued at $9,291,781,000 after acquiring an additional 7,404,376 shares in the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in AT&T in the 2nd quarter worth approximately $5,266,758,000. Geode Capital Management LLC lifted its position in AT&T by 1.2% in the 2nd quarter. Geode Capital Management LLC now owns 172,039,872 shares of the technology company’s stock valued at $4,958,066,000 after acquiring an additional 2,066,026 shares in the last quarter. Finally, Norges Bank bought a new position in AT&T in the 2nd quarter valued at approximately $2,228,655,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Trading Up 1.1%

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

AT&T (NYSE:T – Get Free Report) last released 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. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The firm had revenue of $30.71 billion during the quarter, compared to analyst estimates of $30.85 billion. During the same quarter in the prior year, the company posted $0.60 earnings per share. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. On average, sell-side analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Friday, October 10th were issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend was Friday, October 10th. AT&T’s dividend payout ratio is 36.04%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on T shares. Scotiabank set a $30.25 price target on AT&T and gave the company a “sector perform” rating in a report on Monday, October 6th. KeyCorp raised AT&T from a “sector weight” rating to an “overweight” rating and set a $30.00 target price for the company in a research report on Tuesday, November 11th. UBS Group reaffirmed a “buy” rating on shares of AT&T in a report on Thursday, October 23rd. Sanford C. Bernstein lifted their price target on shares of AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, September 4th. Finally, Barclays lowered their price objective on shares of AT&T from $30.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $30.55.

Get Our Latest Stock Analysis on AT&T

About AT&T

(Free Report)

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.

See Also

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