Baird Financial Group Inc. Has $34.68 Million Position in AT&T Inc. $T

Baird Financial Group Inc. increased its position in shares of AT&T Inc. (NYSE:T) by 9.3% in the second quarter, Holdings Channel reports. The institutional investor owned 1,198,411 shares of the technology company’s stock after buying an additional 101,791 shares during the period. Baird Financial Group Inc.’s holdings in AT&T were worth $34,682,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Denali Advisors LLC boosted its stake in shares of AT&T by 5.9% in the second quarter. Denali Advisors LLC now owns 401,037 shares of the technology company’s stock valued at $11,606,000 after buying an additional 22,394 shares during the period. Tredje AP fonden increased its stake in AT&T by 1.8% during the 2nd quarter. Tredje AP fonden now owns 1,221,395 shares of the technology company’s stock worth $35,347,000 after acquiring an additional 21,720 shares during the period. CHURCHILL MANAGEMENT Corp raised its holdings in AT&T by 1.5% in the 2nd quarter. CHURCHILL MANAGEMENT Corp now owns 324,104 shares of the technology company’s stock valued at $9,380,000 after acquiring an additional 4,793 shares in the last quarter. Kickstand Ventures LLC. bought a new stake in shares of AT&T during the 2nd quarter valued at $489,000. Finally, Sentry Investment Management LLC lifted its position in shares of AT&T by 153.2% during the 2nd quarter. Sentry Investment Management LLC now owns 22,095 shares of the technology company’s stock valued at $625,000 after acquiring an additional 13,370 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Price Performance

T stock opened at $25.28 on Friday. The stock has a market cap of $179.19 billion, a price-to-earnings ratio of 8.21, a P/E/G ratio of 1.49 and a beta of 0.38. 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 company has a 50 day simple moving average of $25.71 and a 200 day simple moving average of $27.36. AT&T Inc. has a 1 year low of $21.38 and a 1 year high of $29.79.

AT&T (NYSE:T) last issued its 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. The firm had revenue of $30.71 billion for the quarter, compared to analyst estimates of $30.85 billion. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The company’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the business posted $0.60 earnings per share. Research analysts anticipate that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Friday, October 10th were given a dividend of $0.2775 per share. The ex-dividend date was Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.4%. AT&T’s payout ratio is currently 36.04%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. TD Cowen boosted their price target on AT&T from $32.00 to $33.00 and gave the company a “hold” rating in a research note on Thursday, October 23rd. KeyCorp raised shares of AT&T from a “sector weight” rating to an “overweight” rating and set a $30.00 target price on the stock in a report on Tuesday, November 11th. Weiss Ratings restated a “buy (b)” rating on shares of AT&T in a research report on Wednesday, October 8th. Sanford C. Bernstein upped their price target on shares of AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, September 4th. Finally, Wells Fargo & Company decreased their price objective 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. 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 company. Based on data from MarketBeat, AT&T currently has an average rating of “Moderate Buy” and an average price target of $30.64.

About AT&T

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.