LGT Fund Management Co Ltd. Buys Shares of 163,600 AT&T Inc. $T

LGT Fund Management Co Ltd. bought a new stake in shares of AT&T Inc. (NYSE:T) during the second quarter, Holdings Channel.com reports. The fund bought 163,600 shares of the technology company’s stock, valued at approximately $4,735,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Stone House Investment Management LLC bought a new stake in AT&T during the 1st quarter valued at $25,000. O Brien Wealth Partners LLC bought a new stake in AT&T during the 2nd quarter valued at $26,000. Kennebec Savings Bank raised its holdings in AT&T by 412.1% during the 2nd quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock valued at $28,000 after acquiring an additional 783 shares during the period. Hager Investment Management Services LLC raised its holdings in AT&T by 182.1% during the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock valued at $28,000 after acquiring an additional 641 shares during the period. Finally, IMA Advisory Services Inc. bought a new stake in AT&T during the 1st quarter valued at $29,000. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 0.2%

Shares of NYSE:T opened at $27.06 on Friday. AT&T Inc. has a 52-week low of $21.05 and a 52-week high of $29.79. The firm has a fifty day moving average of $28.60 and a 200 day moving average of $27.91. The firm has a market capitalization of $193.49 billion, a PE ratio of 15.38, a price-to-earnings-growth ratio of 3.46 and a beta of 0.42. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81.

AT&T (NYSE:T) last announced its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.01. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The company had revenue of $30.85 billion during the quarter, compared to analyst estimates of $30.44 billion. During the same period in the previous year, the business earned $0.51 earnings per share. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. As a group, research analysts anticipate that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

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 given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 4.1%. The ex-dividend date is Friday, October 10th. AT&T’s dividend payout ratio is presently 63.07%.

Analyst Upgrades and Downgrades

T has been the topic of several research analyst reports. The Goldman Sachs Group initiated coverage on shares of AT&T in a report on Tuesday, September 2nd. They issued a “buy” rating and a $32.00 price target on the stock. HSBC cut shares of AT&T from a “buy” rating to a “hold” rating and set a $30.00 price target on the stock. in a report on Thursday, July 24th. Bank of America initiated coverage on shares of AT&T in a report on Monday, July 7th. They issued a “buy” rating and a $32.00 price target on the stock. Barclays reaffirmed an “equal weight” rating and issued a $30.00 price target on shares of AT&T in a report on Wednesday. Finally, Morgan Stanley upped their price target on shares of AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a report on Wednesday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.