Empowered Funds LLC Boosts Stake in AT&T Inc. $T

Empowered Funds LLC boosted its stake in shares of AT&T Inc. (NYSE:T) by 52.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 725,744 shares of the technology company’s stock after purchasing an additional 250,146 shares during the period. Empowered Funds LLC’s holdings in AT&T were worth $21,003,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of T. Stone House Investment Management LLC purchased a new position in shares of AT&T during the 1st quarter valued at about $25,000. O Brien Wealth Partners LLC purchased a new position in AT&T during the second quarter valued at approximately $26,000. Solstein Capital LLC boosted its position in shares of AT&T by 217.3% in the second quarter. Solstein Capital LLC now owns 952 shares of the technology company’s stock worth $28,000 after purchasing an additional 652 shares during the period. Kennebec Savings Bank increased its stake 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 worth $28,000 after purchasing an additional 783 shares in the last quarter. Finally, IMA Advisory Services Inc. bought a new stake in shares of AT&T during the 1st quarter valued at $29,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Down 0.6%

NYSE T opened at $25.45 on Tuesday. 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 market capitalization of $180.39 billion, a P/E ratio of 8.26, a P/E/G ratio of 2.16 and a beta of 0.40. AT&T Inc. has a one year low of $21.38 and a one year high of $29.79. The stock has a 50 day moving average price of $26.68 and a 200-day moving average price of $27.54.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, hitting the consensus estimate of $0.54. The company had revenue of $30.71 billion for the quarter, compared to analysts’ expectations of $30.85 billion. AT&T had a net margin of 17.87% and a return on equity of 12.72%. AT&T’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.60 earnings per share. As a group, equities analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Friday, October 10th were given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.4%. The ex-dividend date was Friday, October 10th. AT&T’s dividend payout ratio is currently 36.04%.

Wall Street Analysts Forecast Growth

T has been the subject of several recent analyst reports. UBS Group reaffirmed a “buy” rating on shares of AT&T in a report on Thursday, October 23rd. Sanford C. Bernstein increased their target price on AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, September 4th. Cowen reissued a “hold” rating on shares of AT&T in a report on Thursday, October 23rd. Raymond James Financial reaffirmed a “strong-buy” rating and set a $33.00 price objective (up from $31.00) on shares of AT&T in a report on Thursday, September 18th. Finally, JPMorgan Chase & Co. boosted their target price on shares of AT&T from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $30.64.

About AT&T

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.