PCG Asset Management LLC Takes Position in AT&T Inc. $T

PCG Asset Management LLC acquired a new position in AT&T Inc. (NYSE:T) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 7,240 shares of the technology company’s stock, valued at approximately $210,000.

A number of other hedge funds have also modified their holdings of T. Roberts Glore & Co. Inc. IL lifted its position in AT&T by 2.0% during the 2nd quarter. Roberts Glore & Co. Inc. IL now owns 18,386 shares of the technology company’s stock worth $532,000 after buying an additional 357 shares in the last quarter. Parcion Private Wealth LLC grew its position in AT&T by 2.5% during the second quarter. Parcion Private Wealth LLC now owns 14,910 shares of the technology company’s stock worth $431,000 after buying an additional 364 shares in the last quarter. Texas Bank & Trust Co grew its stake in AT&T by 0.6% during the second quarter. Texas Bank & Trust Co now owns 64,274 shares of the technology company’s stock worth $1,860,000 after buying an additional 364 shares in the last quarter. David J Yvars Group raised its stake in AT&T by 2.8% during the second quarter. David J Yvars Group now owns 13,884 shares of the technology company’s stock worth $402,000 after acquiring an additional 372 shares in the last quarter. Finally, AllSquare Wealth Management LLC lifted its stake in AT&T by 7.1% in the 1st quarter. AllSquare Wealth Management LLC now owns 5,704 shares of the technology company’s stock valued at $161,000 after purchasing an additional 378 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Down 0.1%

T stock opened at $24.81 on Tuesday. The stock has a fifty day moving average of $27.05 and a 200-day moving average of $27.61. 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 market capitalization of $175.89 billion, a price-to-earnings ratio of 8.06, a PEG ratio of 2.16 and a beta of 0.40. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.96 and a current ratio of 1.01.

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

AT&T Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Wall Street Zen downgraded AT&T from a “buy” rating to a “hold” rating in a report on Saturday. Williams Trading set a $33.00 target price on AT&T in a research note on Thursday, October 23rd. HSBC downgraded shares of AT&T from a “buy” rating to a “hold” rating and set a $30.00 price target for the company. in a research report on Thursday, July 24th. Sanford C. Bernstein upped their price objective on shares of AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, September 4th. Finally, Cowen reiterated a “hold” rating on shares of AT&T in a report on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $30.67.

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.