Alpine Woods Capital Investors LLC Purchases Shares of 7,712 AT&T Inc. $T

Alpine Woods Capital Investors LLC purchased a new stake in AT&T Inc. (NYSE:TFree Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,712 shares of the technology company’s stock, valued at approximately $223,000.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of AT&T by 1.3% in the first quarter. Vanguard Group Inc. now owns 651,044,650 shares of the technology company’s stock worth $18,411,543,000 after acquiring an additional 8,185,006 shares during the period. Kingstone Capital Partners Texas LLC acquired a new position in shares of AT&T in the second quarter worth about $5,266,758,000. GQG Partners LLC raised its position in shares of AT&T by 17.7% in the first quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock worth $3,222,711,000 after acquiring an additional 17,177,874 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of AT&T by 3.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 55,216,190 shares of the technology company’s stock worth $1,561,514,000 after acquiring an additional 1,783,363 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of AT&T by 2.5% in the first quarter. Dimensional Fund Advisors LP now owns 53,339,376 shares of the technology company’s stock worth $1,508,411,000 after acquiring an additional 1,307,009 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of AT&T in a research report on Wednesday, October 8th. Citigroup restated a “buy” rating on shares of AT&T in a research report on Tuesday, August 26th. Wells Fargo & Company upped their price target on shares of AT&T from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Thursday, July 10th. 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 research report on Thursday, September 4th. Finally, Bank of America assumed coverage on shares of AT&T in a research report on Monday, July 7th. They set a “buy” rating and a $32.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $30.75.

Get Our Latest Stock Analysis on T

AT&T Stock Down 1.2%

T opened at $25.57 on Tuesday. AT&T Inc. has a twelve month low of $21.05 and a twelve month high of $29.79. The company has a market cap of $182.80 billion, a PE ratio of 14.53, a price-to-earnings-growth ratio of 2.10 and a beta of 0.42. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01. The company has a 50-day moving average price of $28.41 and a 200 day moving average price of $27.86.

AT&T (NYSE:TGet Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.01. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The company had revenue of $30.85 billion during the quarter, compared to analysts’ expectations of $30.44 billion. During the same quarter in the prior year, the company earned $0.51 EPS. AT&T’s revenue was up 3.4% compared to the same quarter last year. Sell-side analysts expect that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend is Friday, October 10th. AT&T’s dividend payout ratio is currently 63.07%.

AT&T Profile

(Free Report)

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.

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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