Copley Financial Group Inc. Makes New $387,000 Investment in AT&T Inc. $T

Copley Financial Group Inc. purchased a new stake in AT&T Inc. (NYSE:T) in the second quarter, Holdings Channel reports. The firm purchased 13,365 shares of the technology company’s stock, valued at approximately $387,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in T. Stone House Investment Management LLC purchased a new stake in AT&T in the 1st quarter valued at $25,000. O Brien Wealth Partners LLC purchased a new position in shares of AT&T during the 2nd quarter worth $26,000. Solstein Capital LLC boosted its position in shares of AT&T by 217.3% during the 2nd quarter. Solstein Capital LLC now owns 952 shares of the technology company’s stock valued at $28,000 after acquiring an additional 652 shares during the last quarter. Kennebec Savings Bank grew its holdings in shares of AT&T by 412.1% in the second quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock valued at $28,000 after purchasing an additional 783 shares during the period. Finally, Curio Wealth LLC grew its holdings in shares of AT&T by 26,100.0% in the second quarter. Curio Wealth LLC now owns 1,048 shares of the technology company’s stock valued at $30,000 after purchasing an additional 1,044 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

T has been the topic of a number of analyst reports. Cowen reaffirmed a “hold” rating on shares of AT&T in a research note on Thursday, October 23rd. Sanford C. Bernstein lifted their price target on shares of AT&T from $31.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, September 4th. Weiss Ratings reiterated a “buy (b)” rating on shares of AT&T in a report on Wednesday, October 8th. KeyCorp upgraded AT&T from a “sector weight” rating to an “overweight” rating and set a $30.00 price objective for the company in a research report on Tuesday, November 11th. Finally, The Goldman Sachs Group assumed coverage on AT&T in a research report on Tuesday, September 2nd. They issued a “buy” rating and a $32.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $30.64.

AT&T Stock Performance

NYSE:T opened at $25.86 on Thursday. AT&T Inc. has a fifty-two week low of $21.38 and a fifty-two week high of $29.79. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.96 and a current ratio of 1.01. The company has a 50 day moving average price of $26.15 and a 200 day moving average price of $27.44. The stock has a market capitalization of $183.30 billion, a P/E ratio of 8.39, a PEG ratio of 2.16 and a beta of 0.40.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 EPS for the quarter, hitting analysts’ consensus estimates of $0.54. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The company had revenue of $30.71 billion for the quarter, compared to analysts’ expectations of $30.85 billion. During the same period in the prior year, the firm earned $0.60 earnings per share. The firm’s revenue was up 1.7% compared to the same quarter last year. Equities research analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Friday, October 10th were given a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend was Friday, October 10th. AT&T’s payout ratio is currently 36.04%.

AT&T Company 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.