Ascent Group LLC Boosts Stake in AT&T Inc. $T

by · The Cerbat Gem

Ascent Group LLC boosted its stake in shares of AT&T Inc. (NYSE:T – Free Report) by 95.1% in the first quarter, Holdings Channel reports. The institutional investor owned 301,077 shares of the technology company’s stock after acquiring an additional 146,788 shares during the period. Ascent Group LLC’s holdings in AT&T were worth $8,514,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of T. Brighton Jones LLC lifted its holdings in shares of AT&T by 26.5% during the 4th quarter. Brighton Jones LLC now owns 48,579 shares of the technology company’s stock valued at $1,106,000 after purchasing an additional 10,188 shares during the last quarter. Yoffe Investment Management LLC purchased a new stake in shares of AT&T during the 4th quarter valued at $213,000. Fiduciary Trust Co lifted its holdings in shares of AT&T by 1.0% during the 4th quarter. Fiduciary Trust Co now owns 92,269 shares of the technology company’s stock valued at $2,101,000 after purchasing an additional 889 shares during the last quarter. Focus Partners Wealth lifted its holdings in shares of AT&T by 59.2% during the 4th quarter. Focus Partners Wealth now owns 1,235,890 shares of the technology company’s stock valued at $29,120,000 after purchasing an additional 459,410 shares during the last quarter. Finally, Graham Capital Management L.P. lifted its holdings in shares of AT&T by 323.5% during the 4th quarter. Graham Capital Management L.P. now owns 94,511 shares of the technology company’s stock valued at $2,152,000 after purchasing an additional 72,193 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

Shares of T opened at $29.57 on Monday. The business’s 50-day moving average is $28.23 and its two-hundred day moving average is $27.65. The company has a market capitalization of $211.40 billion, a P/E ratio of 16.80, a P/E/G ratio of 3.66 and a beta of 0.44. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81. AT&T Inc. has a fifty-two week low of $20.65 and a fifty-two week high of $29.79.

AT&T (NYSE:T – Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.01. The company had revenue of $30.85 billion for the quarter, compared to the consensus estimate of $30.44 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period last year, the firm earned $0.51 EPS. Research analysts predict that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Thursday, July 10th. AT&T’s dividend payout ratio (DPR) is currently 63.07%.

Analyst Ratings Changes

Several analysts have recently commented on the company. Scotiabank increased their price objective on AT&T from $29.50 to $30.00 and gave the company a “sector outperform” rating in a report on Friday, July 11th. UBS Group reiterated a “buy” rating and set a $31.00 price objective (up previously from $30.00) on shares of AT&T in a report on Wednesday, June 18th. Hsbc Global Res lowered AT&T from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 24th. Wells Fargo & Company raised their target price on AT&T from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Thursday, July 10th. Finally, Citigroup restated a “buy” rating on shares of AT&T in a research note on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $30.55.

View Our Latest Research Report on AT&T

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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