Hook Mill Capital Partners LP Takes $19.27 Million Position in AT&T Inc. $T

by · The Cerbat Gem

Hook Mill Capital Partners LP purchased a new position in AT&T Inc. (NYSE:T – Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 665,927 shares of the technology company’s stock, valued at approximately $19,272,000. AT&T accounts for 1.9% of Hook Mill Capital Partners LP’s portfolio, making the stock its 22nd biggest holding.

Other large investors also recently bought and sold shares of the company. Kingstone Capital Partners Texas LLC purchased a new stake in AT&T during the 2nd quarter worth $5,266,758,000. Norges Bank purchased a new position in AT&T in the second quarter valued at about $2,228,655,000. Vanguard Group Inc. boosted 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 valued at $19,139,620,000 after purchasing an additional 10,310,560 shares during the last quarter. Wellington Management Group LLP grew its stake in AT&T by 350.4% during the 1st quarter. Wellington Management Group LLP now owns 11,363,940 shares of the technology company’s stock valued at $321,372,000 after purchasing an additional 8,841,126 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in AT&T by 32.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,435,357 shares of the technology company’s stock worth $973,833,000 after purchasing an additional 8,355,686 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on T shares. 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. Wall Street Zen downgraded shares of AT&T from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Scotiabank set a $30.25 price target on shares of 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 AT&T in a report on Thursday, October 23rd. Finally, Royal Bank Of Canada cut their price objective on AT&T from $31.00 to $30.00 and set an “outperform” rating on the stock in a research note on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and an average target price of $30.55.

Read Our Latest Research Report on AT&T

AT&T Price Performance

Shares of T stock opened at $24.57 on Friday. The firm has a market cap of $174.20 billion, a price-to-earnings ratio of 7.98, a PEG ratio of 1.42 and a beta of 0.38. AT&T Inc. has a 12 month low of $21.38 and a 12 month high of $29.79. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 1.01. The stock has a 50-day moving average price of $25.41 and a 200 day moving average price of $27.26.

AT&T (NYSE:T – Get Free Report) last issued its earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.54. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The company had revenue of $30.71 billion for the quarter, compared to analyst estimates of $30.85 billion. During the same quarter last year, the firm earned $0.60 EPS. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. Research analysts expect that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Friday, October 10th were paid a $0.2775 dividend. The ex-dividend date of this dividend was 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 is 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.

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