Corient Private Wealth LLC Increases Stake in AT&T Inc. $T

Corient Private Wealth LLC lifted its position in AT&T Inc. (NYSE:T) by 4.5% in the 2nd quarter, Holdings Channel.com reports. The fund owned 2,447,866 shares of the technology company’s stock after acquiring an additional 105,712 shares during the period. Corient Private Wealth LLC’s holdings in AT&T were worth $70,841,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Denali Advisors LLC raised its position in AT&T by 5.9% during the 2nd 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 last quarter. Tredje AP fonden boosted its holdings in shares of AT&T by 1.8% in the 2nd quarter. Tredje AP fonden now owns 1,221,395 shares of the technology company’s stock valued at $35,347,000 after acquiring an additional 21,720 shares during the last quarter. CHURCHILL MANAGEMENT Corp increased its stake 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 worth $9,380,000 after acquiring an additional 4,793 shares during the period. Kickstand Ventures LLC. purchased a new position in shares of AT&T during the second quarter worth $489,000. Finally, Sentry Investment Management LLC lifted its position in AT&T by 153.2% during the second quarter. Sentry Investment Management LLC now owns 22,095 shares of the technology company’s stock valued at $625,000 after purchasing an additional 13,370 shares during the period. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Price Performance

AT&T stock opened at $24.33 on Tuesday. The stock has a market capitalization of $172.46 billion, a P/E ratio of 7.90, a P/E/G ratio of 1.44 and a beta of 0.38. The company’s fifty day moving average price is $25.37 and its 200 day moving average price is $27.23. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.96 and a current ratio of 1.01. AT&T Inc. has a 1 year low of $21.38 and a 1 year high of $29.79.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, hitting analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $30.85 billion. During the same period in the prior year, the business posted $0.60 earnings per share. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. As a group, equities research analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 12th will be paid a $0.2775 dividend. The ex-dividend date of this dividend is Monday, January 12th. This represents a $1.11 dividend on an annualized basis and a yield of 4.6%. AT&T’s dividend payout ratio (DPR) is currently 36.04%.

Analysts Set New Price Targets

T has been the topic of several analyst reports. Williams Trading set a $33.00 price target on AT&T in a research report on Thursday, October 23rd. Wells Fargo & Company cut their target price on shares of AT&T from $31.00 to $29.00 and set an “overweight” rating for the company in a report on Thursday, October 16th. Morgan Stanley decreased their target price on shares of AT&T from $32.00 to $30.00 and set an “overweight” rating for the company in a research note on Wednesday, December 10th. Wall Street Zen lowered shares of AT&T from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Cowen reiterated a “hold” rating on shares of AT&T in a research report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, AT&T currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.55.

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.