Berman Capital Advisors LLC Purchases 7,931 Shares of AT&T Inc. (NYSE:T)

Berman Capital Advisors LLC raised its position in shares of AT&T Inc. (NYSE:T) by 33.0% in the second quarter, Holdings Channel reports. The fund owned 31,981 shares of the technology company’s stock after buying an additional 7,931 shares during the quarter. Berman Capital Advisors LLC’s holdings in AT&T were worth $919,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the business. BlackRock Inc. raised its position in shares of AT&T by 3.4% during the second quarter. BlackRock Inc. now owns 508,851,017 shares of the technology company’s stock valued at $14,644,734,000 after buying an additional 16,734,100 shares during the last quarter. Geode Capital Management LLC raised its position in shares of AT&T by 2.9% during the first quarter. Geode Capital Management LLC now owns 115,702,320 shares of the technology company’s stock valued at $3,492,776,000 after buying an additional 3,240,700 shares during the last quarter. Nordea Investment Management AB raised its position in shares of AT&T by 9.5% during the first quarter. Nordea Investment Management AB now owns 28,671,144 shares of the technology company’s stock valued at $871,890,000 after buying an additional 2,486,443 shares during the last quarter. UBS Asset Management Americas Inc. raised its position in shares of AT&T by 3.2% during the first quarter. UBS Asset Management Americas Inc. now owns 28,242,777 shares of the technology company’s stock valued at $854,909,000 after buying an additional 874,730 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in shares of AT&T by 119.8% during the first quarter. Franklin Resources Inc. now owns 27,173,122 shares of the technology company’s stock valued at $822,532,000 after buying an additional 14,811,593 shares during the last quarter. Institutional investors own 51.61% of the company’s stock.

T has been the subject of a number of research analyst reports. Scotiabank raised shares of AT&T from a “sector underperform” rating to a “sector perform” rating and upped their price objective for the company from $28.00 to $31.00 in a research report on Wednesday, June 16th. Royal Bank of Canada started coverage on shares of AT&T in a research report on Thursday, July 22nd. They issued a “hold” rating and a $30.00 price target for the company. Argus lowered shares of AT&T from a “buy” rating to a “hold” rating and set a $28.09 price target for the company. in a research report on Tuesday, July 27th. Redburn Partners started coverage on shares of AT&T in a research report on Friday, June 25th. They issued a “sell” rating and a $23.00 price target for the company. Finally, Morgan Stanley lowered shares of AT&T to an “equal weight” rating and set a $29.00 price target for the company. in a research report on Friday, July 16th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $31.10.

Shares of T traded up $0.21 during mid-day trading on Wednesday, hitting $27.17. 348,196 shares of the company traded hands, compared to its average volume of 40,817,191. AT&T Inc. has a one year low of $26.35 and a one year high of $33.88. The company has a current ratio of 0.77, a quick ratio of 0.73 and a debt-to-equity ratio of 0.87. The business has a 50-day moving average of $27.75 and a 200 day moving average of $29.19. The stock has a market capitalization of $193.99 billion, a price-to-earnings ratio of -86.96, a PEG ratio of 2.11 and a beta of 0.78.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, July 21st. The technology company reported $0.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.10. AT&T had a negative net margin of 1.11% and a positive return on equity of 12.78%. The business had revenue of $44.05 billion for the quarter, compared to analysts’ expectations of $42.39 billion. During the same period in the prior year, the firm earned $0.83 earnings per share. AT&T’s revenue was up 7.6% compared to the same quarter last year. As a group, analysts anticipate that AT&T Inc. will post 3.33 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 2nd. Shareholders of record on Friday, July 9th were paid a $0.52 dividend. The ex-dividend date of this dividend was Thursday, July 8th. This represents a $2.08 dividend on an annualized basis and a yield of 7.66%. AT&T’s payout ratio is presently 65.41%.

AT&T Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications media and technology service. It operates through the following segments: Communications, WarnerMedia, and Latin America. The Communications segment provides services to businesses and consumers located in the U.S., or in U.S.

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

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