AT&T Inc. $T Stock Position Boosted by Denali Advisors LLC

Denali Advisors LLC increased its holdings in shares of AT&T Inc. (NYSE:T) by 5.9% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 401,037 shares of the technology company’s stock after purchasing an additional 22,394 shares during the quarter. AT&T comprises about 1.2% of Denali Advisors LLC’s investment portfolio, making the stock its 10th biggest holding. Denali Advisors LLC’s holdings in AT&T were worth $11,606,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Kingstone Capital Partners Texas LLC acquired a new stake in shares of AT&T in the second quarter valued at about $5,266,758,000. Nuveen LLC acquired a new stake in shares of AT&T in the first quarter valued at about $1,072,128,000. GQG Partners LLC grew its stake 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 valued at $3,222,711,000 after buying an additional 17,177,874 shares in the last quarter. Ontario Teachers Pension Plan Board grew its stake in shares of AT&T by 30,527.5% in the first quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company’s stock valued at $338,213,000 after buying an additional 11,920,392 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in AT&T by 350.4% during the 1st quarter. Wellington Management Group LLP now owns 11,363,940 shares of the technology company’s stock valued at $321,372,000 after purchasing an additional 8,841,126 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on T. Sanford C. Bernstein raised their price objective on AT&T from $31.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, September 4th. Wells Fargo & Company reduced their target price on AT&T from $31.00 to $29.00 and set an “overweight” rating on the stock in a report on Thursday, October 16th. Citigroup reissued a “buy” rating on shares of AT&T in a report on Tuesday, August 26th. UBS Group set a $33.00 price target on AT&T in a report on Thursday, September 18th. Finally, Bank of America assumed coverage on AT&T in a report on Monday, July 7th. They issued a “buy” rating and a $32.00 price target on the stock. One investment 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. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $30.65.

AT&T Stock Down 0.3%

Shares of AT&T stock opened at $26.01 on Wednesday. The business’s fifty day moving average price is $28.18 and its two-hundred day moving average price is $27.78. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76. The company has a market capitalization of $185.98 billion, a P/E ratio of 14.78, a PEG ratio of 2.12 and a beta of 0.42. AT&T Inc. has a 1-year low of $21.05 and a 1-year high of $29.79.

AT&T (NYSE:T) last announced its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.01. The firm had revenue of $30.85 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.51 EPS. As a group, research analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

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