Great Lakes Retirement Inc. Acquires Shares of 33,961 AT&T Inc. $T

by · The Cerbat Gem

Great Lakes Retirement Inc. acquired a new stake in shares of AT&T Inc. (NYSE:T – Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 33,961 shares of the technology company’s stock, valued at approximately $983,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in T. Brighton Jones LLC lifted its stake in shares of AT&T by 26.5% in the fourth quarter. Brighton Jones LLC now owns 48,579 shares of the technology company’s stock worth $1,106,000 after buying an additional 10,188 shares in the last quarter. Golden State Wealth Management LLC lifted its stake in shares of AT&T by 74.9% in the first quarter. Golden State Wealth Management LLC now owns 7,341 shares of the technology company’s stock worth $208,000 after buying an additional 3,143 shares in the last quarter. Aviance Capital Partners LLC lifted its stake in shares of AT&T by 9.4% in the first quarter. Aviance Capital Partners LLC now owns 27,261 shares of the technology company’s stock worth $771,000 after buying an additional 2,338 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its stake in shares of AT&T by 2.4% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 17,596 shares of the technology company’s stock worth $498,000 after buying an additional 417 shares in the last quarter. Finally, Strategic Blueprint LLC lifted its stake in shares of AT&T by 16.3% in the first quarter. Strategic Blueprint LLC now owns 35,780 shares of the technology company’s stock worth $1,012,000 after buying an additional 5,011 shares in the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Scotiabank set a $30.25 price target on shares of AT&T and gave the stock a “sector perform” rating in a research note on Monday, October 6th. HSBC downgraded shares of AT&T from a “buy” rating to a “hold” rating and set a $30.00 price target on the stock. in a research note on Thursday, July 24th. Royal Bank Of Canada decreased their price target on shares of AT&T from $31.00 to $30.00 and set an “outperform” rating on the stock in a research note on Thursday, October 23rd. Wells Fargo & Company reduced their target price on shares of AT&T from $31.00 to $29.00 and set an “overweight” rating on the stock in a research note on Thursday, October 16th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and set a $33.00 target price (up from $31.00) on shares of AT&T in a research note on Thursday, September 18th. One equities research 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 stock. According to data from MarketBeat, AT&T has an average rating of “Moderate Buy” and an average target price of $30.67.

Check Out Our Latest Stock Report on AT&T

AT&T Price Performance

Shares of T stock opened at $24.76 on Friday. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.01 and a quick ratio of 0.96. The firm’s 50-day moving average is $27.57 and its two-hundred day moving average is $27.70. AT&T Inc. has a 12 month low of $21.38 and a 12 month high of $29.79. The company has a market capitalization of $177.01 billion, a PE ratio of 8.04, a price-to-earnings-growth ratio of 2.16 and a beta of 0.42.

AT&T (NYSE:T – Get Free Report) last announced its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share 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 business had revenue of $30.71 billion during the quarter, compared to analysts’ expectations of $30.85 billion. During the same period last year, the business earned $0.60 earnings per share. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. Analysts predict that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be given a dividend of $0.2775 per share. The ex-dividend date is Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.5%. AT&T’s dividend payout ratio (DPR) is currently 36.04%.

AT&T Company Profile

(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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