Good Life Advisors LLC lifted its stake in shares of AT&T Inc. (NYSE:T) by 4.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 75,936 shares of the technology company’s stock after buying an additional 3,464 shares during the quarter. AT&T makes up about 0.8% of Good Life Advisors LLC’s investment portfolio, making the stock its 27th largest holding. Good Life Advisors LLC’s holdings in AT&T were worth $2,436,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in T. Guardian Investment Management boosted its holdings in AT&T by 8.4% in the second quarter. Guardian Investment Management now owns 143,209 shares of the technology company’s stock worth $4,598,000 after purchasing an additional 11,054 shares during the period. Ironsides Asset Advisors LLC boosted its holdings in AT&T by 450.8% in the second quarter. Ironsides Asset Advisors LLC now owns 54,043 shares of the technology company’s stock worth $1,735,000 after purchasing an additional 44,231 shares during the period. Whittier Trust Co. boosted its holdings in AT&T by 9.5% in the second quarter. Whittier Trust Co. now owns 462,757 shares of the technology company’s stock worth $14,859,000 after purchasing an additional 40,293 shares during the period. BP PLC boosted its holdings in AT&T by 30.5% in the second quarter. BP PLC now owns 914,826 shares of the technology company’s stock worth $29,375,000 after purchasing an additional 213,826 shares during the period. Finally, AdvisorNet Financial Inc boosted its holdings in AT&T by 14.1% in the second quarter. AdvisorNet Financial Inc now owns 50,507 shares of the technology company’s stock worth $1,622,000 after purchasing an additional 6,247 shares during the period. 64.81% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have issued reports on T shares. Argus reiterated a “buy” rating and issued a $48.00 target price on shares of AT&T in a research note on Friday, October 26th. Deutsche Bank raised their target price on AT&T from $35.00 to $37.00 and gave the company a “hold” rating in a research note on Monday, September 24th. UBS Group upgraded AT&T from a “neutral” rating to a “buy” rating and raised their target price for the company from $33.00 to $38.00 in a research note on Friday, September 21st. They noted that the move was a valuation call. Bank of America reiterated a “buy” rating on shares of AT&T in a research note on Tuesday, August 21st. Finally, Scotiabank set a $33.00 target price on AT&T and gave the company a “hold” rating in a research note on Monday, July 23rd. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $37.86.
NYSE:T opened at $30.69 on Friday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.81 and a current ratio of 0.81. AT&T Inc. has a fifty-two week low of $28.85 and a fifty-two week high of $39.33. The stock has a market cap of $190.06 billion, a price-to-earnings ratio of 10.06, a price-to-earnings-growth ratio of 2.47 and a beta of 0.42.
AT&T (NYSE:T) last released its earnings results on Wednesday, October 24th. The technology company reported $0.90 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by ($0.04). AT&T had a net margin of 20.40% and a return on equity of 13.61%. The business had revenue of $45.74 billion for the quarter, compared to analysts’ expectations of $45.73 billion. During the same period last year, the firm earned $0.74 EPS. The company’s revenue was up 15.3% compared to the same quarter last year. As a group, equities analysts forecast that AT&T Inc. will post 3.51 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, November 1st. Shareholders of record on Wednesday, October 10th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, October 9th. This represents a $2.00 annualized dividend and a yield of 6.52%. AT&T’s dividend payout ratio (DPR) is presently 65.57%.
In other AT&T news, Director Michael B. Mccallister bought 4,000 shares of the stock in a transaction on Friday, October 26th. The shares were bought at an average price of $29.14 per share, with a total value of $116,560.00. Following the purchase, the director now directly owns 7,361 shares in the company, valued at approximately $214,499.54. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.09% of the company’s stock.
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AT&T Company Profile
AT&T Inc provides communications and digital entertainment services. The company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility, and International. The Business Solutions segment offers wireless services, strategic services, legacy voice, data services, wireless equipment, and other services to multinational companies, governmental and wholesale customers, and individual subscribers.
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