Osaic Holdings Inc. Purchases 1,064,540 Shares of AT&T Inc. $T

Osaic Holdings Inc. raised its position in AT&T Inc. (NYSE:T) by 39.4% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 3,766,225 shares of the technology company’s stock after purchasing an additional 1,064,540 shares during the period. Osaic Holdings Inc.’s holdings in AT&T were worth $108,361,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Front Row Advisors LLC bought a new stake in AT&T in the 2nd quarter valued at approximately $25,000. O Brien Wealth Partners LLC bought a new position in shares of AT&T during the 2nd quarter worth approximately $26,000. Kennebec Savings Bank boosted its holdings in shares of AT&T by 412.1% in the 2nd quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock valued at $28,000 after buying an additional 783 shares during the last quarter. Solstein Capital LLC increased its holdings in AT&T by 217.3% during the second quarter. Solstein Capital LLC now owns 952 shares of the technology company’s stock worth $28,000 after buying an additional 652 shares during the last quarter. Finally, Curio Wealth LLC raised its position in AT&T by 26,100.0% during the second quarter. Curio Wealth LLC now owns 1,048 shares of the technology company’s stock worth $30,000 after acquiring an additional 1,044 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

AT&T Stock Up 1.1%

NYSE T opened at $24.57 on Monday. AT&T Inc. has a fifty-two week low of $21.38 and a fifty-two week high of $29.79. The business has a fifty day moving average price of $25.41 and a two-hundred day moving average price of $27.26. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.01 and a quick ratio of 0.96. The stock has a market capitalization of $174.20 billion, a PE ratio of 7.98, a PEG ratio of 1.44 and a beta of 0.38.

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

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Friday, October 10th were issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.5%. The ex-dividend date was Friday, October 10th. AT&T’s payout ratio is 36.04%.

Analyst Ratings Changes

A number of brokerages have weighed in on T. Cowen reissued a “hold” rating on shares of AT&T in a research report on Thursday, October 23rd. TD Cowen raised their target price on shares of AT&T from $32.00 to $33.00 and gave the stock a “hold” rating in a report on Thursday, October 23rd. UBS Group reiterated a “buy” rating on shares of AT&T in a research note on Thursday, October 23rd. Scotiabank set a $30.25 price target on AT&T and gave the stock a “sector perform” rating in a research report on Monday, October 6th. Finally, Raymond James Financial restated a “strong-buy” rating and set a $33.00 price objective (up previously from $31.00) on shares of AT&T in a research note on Thursday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, AT&T has an average rating of “Moderate Buy” and a consensus price target of $30.55.

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.