AT&T Inc. $T Shares Acquired by Means Investment CO. Inc.

Means Investment CO. Inc. raised its stake in AT&T Inc. (NYSE:T) by 68.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,073 shares of the technology company’s stock after purchasing an additional 8,575 shares during the quarter. Means Investment CO. Inc.’s holdings in AT&T were worth $610,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Stone House Investment Management LLC acquired a new stake in AT&T during the 1st quarter valued at $25,000. O Brien Wealth Partners LLC purchased a new position in AT&T in the 2nd quarter valued at about $26,000. Kennebec Savings Bank grew its stake in shares of AT&T by 412.1% during the second quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock valued at $28,000 after acquiring an additional 783 shares in the last quarter. Hager Investment Management Services LLC increased its position in shares of AT&T by 182.1% during the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock worth $28,000 after acquiring an additional 641 shares during the last quarter. Finally, IMA Advisory Services Inc. purchased a new stake in shares of AT&T during the first quarter worth about $29,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on T shares. UBS Group set a $33.00 price target on shares of AT&T in a report on Thursday, September 18th. HSBC downgraded shares of AT&T from a “buy” rating to a “hold” rating and set a $30.00 target price for the company. in a research report on Thursday, July 24th. Scotiabank set a $30.25 price target on shares of AT&T and gave the stock a “sector perform” rating in a research report on Monday, October 6th. Citigroup reissued a “buy” rating on shares of AT&T in a report on Tuesday, August 26th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of AT&T in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $30.75.

AT&T Stock Down 1.0%

AT&T stock opened at $25.85 on Friday. The firm has a market capitalization of $184.82 billion, a P/E ratio of 14.69, a P/E/G ratio of 2.10 and a beta of 0.42. The company has a 50-day simple moving average of $28.45 and a 200-day simple moving average of $27.88. AT&T Inc. has a one year low of $21.05 and a one year high of $29.79. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.01. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The company had revenue of $30.85 billion for the quarter, compared to analysts’ expectations of $30.44 billion. During the same quarter in the previous year, the company posted $0.51 earnings per share. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, equities analysts expect that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

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

AT&T 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.