Alley Investment Management Company LLC Buys Shares of 134,241 AT&T Inc. $T

Alley Investment Management Company LLC bought a new stake in AT&T Inc. (NYSE:T) in the second quarter, HoldingsChannel reports. The institutional investor bought 134,241 shares of the technology company’s stock, valued at approximately $3,885,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of T. Brighton Jones LLC lifted its holdings in AT&T by 26.5% in the fourth quarter. Brighton Jones LLC now owns 48,579 shares of the technology company’s stock valued at $1,106,000 after acquiring an additional 10,188 shares during the period. Fragasso Financial Advisors Inc raised its stake in shares of AT&T by 6.2% during the 1st quarter. Fragasso Financial Advisors Inc now owns 13,442 shares of the technology company’s stock worth $380,000 after buying an additional 784 shares during the last quarter. Harbor Investment Advisory LLC raised its stake in shares of AT&T by 8.1% during the 1st quarter. Harbor Investment Advisory LLC now owns 18,516 shares of the technology company’s stock worth $524,000 after buying an additional 1,392 shares during the last quarter. Merit Financial Group LLC raised its stake in shares of AT&T by 27.5% during the 1st quarter. Merit Financial Group LLC now owns 382,332 shares of the technology company’s stock worth $10,812,000 after buying an additional 82,401 shares during the last quarter. Finally, Rialto Wealth Management LLC raised its stake in shares of AT&T by 23.7% during the 1st quarter. Rialto Wealth Management LLC now owns 4,258 shares of the technology company’s stock worth $120,000 after buying an additional 815 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Trading Up 0.6%

Shares of T stock opened at $28.25 on Wednesday. The firm has a 50-day moving average price of $28.64 and a 200 day moving average price of $27.91. AT&T Inc. has a twelve month low of $21.05 and a twelve month high of $29.79. The company has a market capitalization of $202.00 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 3.59 and a beta of 0.44. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.53 by $0.01. The company had revenue of $30.85 billion during the quarter, compared to analysts’ expectations 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 was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.51 EPS. Research analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be issued a $0.2775 dividend. The ex-dividend date is Friday, October 10th. This represents a $1.11 annualized dividend and a yield of 3.9%. AT&T’s payout ratio is 63.07%.

Analyst Ratings Changes

Several research firms have recently issued reports on T. Hsbc Global Res downgraded AT&T from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 24th. UBS Group set a $33.00 price target on AT&T in a research note on Thursday, September 18th. Citigroup reaffirmed a “buy” rating on shares of AT&T in a research note on Tuesday, August 26th. Sanford C. Bernstein lifted their price target on AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, September 4th. Finally, Wells Fargo & Company lifted their price target on AT&T from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $30.74.

AT&T Company Profile

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.