Benin Management CORP Increases Stock Position in AT&T Inc. $T

Benin Management CORP raised its holdings in AT&T Inc. (NYSE:T) by 1.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,401 shares of the technology company’s stock after purchasing an additional 395 shares during the quarter. Benin Management CORP’s holdings in AT&T were worth $677,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Stone House Investment Management LLC purchased a new stake in AT&T in the 1st quarter valued at approximately $25,000. O Brien Wealth Partners LLC purchased a new stake in shares of AT&T during the 2nd quarter worth approximately $26,000. Kennebec Savings Bank boosted its stake in shares of AT&T by 412.1% during the 2nd quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock worth $28,000 after acquiring an additional 783 shares in the last quarter. Hager Investment Management Services LLC boosted its stake in shares of AT&T by 182.1% during the 1st 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 in the last quarter. Finally, IMA Advisory Services Inc. purchased a new stake in shares of AT&T during the 1st quarter worth approximately $29,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Trading Down 0.3%

Shares of T opened at $26.01 on Wednesday. The stock has a fifty day moving average of $28.18 and a two-hundred day moving average of $27.78. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81. The company has a market capitalization of $185.98 billion, a PE ratio of 14.78, a price-to-earnings-growth ratio of 2.12 and a beta of 0.42. AT&T Inc. has a fifty-two week low of $21.05 and a fifty-two week high of $29.79.

AT&T (NYSE:T) last issued its quarterly 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 company had revenue of $30.85 billion during 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%.AT&T’s revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.51 EPS. As a group, analysts forecast that AT&T Inc. will post 2.14 EPS for the current 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 4.3%. AT&T’s payout ratio is 63.07%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on T. Morgan Stanley boosted their price target on AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 16th. HSBC lowered AT&T from a “buy” rating to a “hold” rating and set a $30.00 price target on the stock. in a research note on Thursday, July 24th. Citigroup reissued a “buy” rating on shares of AT&T in a research note on Tuesday, August 26th. Scotiabank set a $30.25 price target on AT&T and gave the stock a “sector perform” rating in a research note on Monday, October 6th. Finally, Sanford C. Bernstein boosted 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. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, AT&T has an average rating of “Moderate Buy” and an average target price of $30.65.

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.