Headlands Technologies LLC Buys 236,508 Shares of AT&T Inc. $T

Headlands Technologies LLC raised its position in shares of AT&T Inc. (NYSE:T) by 1,046.5% in the second quarter, according to its most recent filing with the SEC. The firm owned 259,108 shares of the technology company’s stock after purchasing an additional 236,508 shares during the quarter. AT&T makes up approximately 0.9% of Headlands Technologies LLC’s investment portfolio, making the stock its 19th largest holding. Headlands Technologies LLC’s holdings in AT&T were worth $7,499,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Denali Advisors LLC increased 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 worth $11,606,000 after buying an additional 22,394 shares during the period. Tredje AP fonden grew its holdings in AT&T by 1.8% in 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 last quarter. CHURCHILL MANAGEMENT Corp increased its position in shares of AT&T by 1.5% in the second 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 during the period. Kickstand Ventures LLC. bought a new position in shares of AT&T during the second quarter valued at about $489,000. Finally, Sentry Investment Management LLC boosted its holdings in shares of AT&T by 153.2% during the second quarter. Sentry Investment Management LLC now owns 22,095 shares of the technology company’s stock worth $625,000 after purchasing an additional 13,370 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on T shares. Sanford C. Bernstein raised their target price on AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, September 4th. The Goldman Sachs Group assumed coverage on AT&T in a research report on Tuesday, September 2nd. They issued a “buy” rating and a $32.00 price objective on the stock. Cowen reissued a “hold” rating on shares of AT&T in a research note on Thursday, October 23rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of AT&T in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company cut their price target on shares of AT&T from $31.00 to $29.00 and set an “overweight” rating on the stock in a report on Thursday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and a consensus target price of $30.55.

AT&T Trading Up 1.1%

T opened at $24.57 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 1.01. AT&T Inc. has a 52 week low of $21.38 and a 52 week high of $29.79. The stock has a market cap of $174.20 billion, a PE ratio of 7.98, a PEG ratio of 1.44 and a beta of 0.38. The business has a 50 day moving average of $25.41 and a 200-day moving average of $27.26.

AT&T (NYSE:T) last announced 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 business had revenue of $30.71 billion during the quarter, compared to the consensus estimate of $30.85 billion. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.60 earnings per share. Equities research analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Friday, October 10th were given 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 yield of 4.5%. AT&T’s payout ratio is 36.04%.

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.