Gemmer Asset Management LLC Buys 3,738 Shares of AT&T Inc. $T

Gemmer Asset Management LLC grew its stake in shares of AT&T Inc. (NYSE:T) by 41.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,680 shares of the technology company’s stock after buying an additional 3,738 shares during the period. Gemmer Asset Management LLC’s holdings in AT&T were worth $367,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CHURCHILL MANAGEMENT Corp increased its position in shares of AT&T by 1.5% during the second quarter. CHURCHILL MANAGEMENT Corp now owns 324,104 shares of the technology company’s stock valued at $9,380,000 after buying an additional 4,793 shares during the period. Capstone Wealth Management LLC bought a new stake in shares of AT&T during the first quarter valued at about $201,000. ASR Vermogensbeheer N.V. increased its position in shares of AT&T by 1.4% during the second quarter. ASR Vermogensbeheer N.V. now owns 722,568 shares of the technology company’s stock valued at $20,910,000 after buying an additional 9,970 shares during the period. Wedmont Private Capital increased its position in shares of AT&T by 7.9% during the first quarter. Wedmont Private Capital now owns 123,247 shares of the technology company’s stock valued at $3,302,000 after buying an additional 9,027 shares during the period. Finally, Xponance Inc. increased its position in shares of AT&T by 10.2% during the first quarter. Xponance Inc. now owns 1,109,933 shares of the technology company’s stock valued at $31,389,000 after buying an additional 102,419 shares during the period. 57.10% of the stock is currently owned by institutional investors.

AT&T Stock Performance

Shares of AT&T stock opened at $27.06 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $193.49 billion, a P/E ratio of 15.38, a P/E/G ratio of 3.46 and a beta of 0.42. The business has a fifty day simple moving average of $28.60 and a two-hundred day simple moving average of $27.92. AT&T Inc. has a 12 month low of $21.05 and a 12 month high of $29.79.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.53 by $0.01. The business had revenue of $30.85 billion during the quarter, compared to analyst estimates of $30.44 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The company’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.51 earnings per share. On average, equities analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be given a dividend of $0.2775 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.11 annualized dividend and a yield of 4.1%. AT&T’s dividend payout ratio (DPR) is currently 63.07%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Weiss Ratings restated a “buy (b)” rating on shares of AT&T in a research report on Saturday, September 27th. Wells Fargo & Company upped their price objective on shares of AT&T from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Thursday, July 10th. Bank of America assumed coverage on shares of AT&T in a research report on Monday, July 7th. They issued a “buy” rating and a $32.00 price objective on the stock. Barclays restated an “equal weight” rating and issued a $30.00 price objective on shares of AT&T in a research report on Wednesday. Finally, Raymond James Financial restated a “strong-buy” rating and issued a $33.00 price objective (up from $31.00) on shares of AT&T in a research report on Thursday, September 18th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, AT&T presently has an average rating of “Moderate Buy” and a consensus target price of $30.74.

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.