ProShare Advisors LLC Purchases 136,701 Shares of AT&T Inc. $T

ProShare Advisors LLC increased its holdings in AT&T Inc. (NYSE:T) by 12.2% during the 2nd quarter, HoldingsChannel reports. The firm owned 1,253,235 shares of the technology company’s stock after buying an additional 136,701 shares during the period. ProShare Advisors LLC’s holdings in AT&T were worth $36,269,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of AT&T by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 651,044,650 shares of the technology company’s stock valued at $18,411,543,000 after buying an additional 8,185,006 shares in the last quarter. Kingstone Capital Partners Texas LLC bought a new stake in AT&T during the second quarter worth approximately $5,266,758,000. GQG Partners LLC raised its position in AT&T by 17.7% during the first quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock valued at $3,222,711,000 after purchasing an additional 17,177,874 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in AT&T by 3.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 55,216,190 shares of the technology company’s stock valued at $1,561,514,000 after purchasing an additional 1,783,363 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of AT&T by 2.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 53,339,376 shares of the technology company’s stock valued at $1,508,411,000 after purchasing an additional 1,307,009 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

T stock opened at $24.81 on Tuesday. AT&T Inc. has a twelve month low of $21.38 and a twelve month high of $29.79. The firm has a market cap 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 business’s fifty day simple moving average is $27.05 and its two-hundred day simple moving average is $27.61. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 1.01.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 EPS for the quarter, hitting analysts’ consensus estimates of $0.54. The firm 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%. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.60 earnings per share. Analysts predict that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The business 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. The ex-dividend date of this dividend was Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.5%. AT&T’s dividend payout ratio (DPR) is 36.04%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on T. Citigroup reissued a “buy” rating on shares of AT&T in a research report on Tuesday, August 26th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of AT&T in a research note on Wednesday, October 8th. Sanford C. Bernstein increased their target price on shares of AT&T from $31.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, September 4th. Cowen restated a “hold” rating on shares of AT&T in a report on Thursday, October 23rd. Finally, UBS Group reaffirmed a “buy” rating on shares of AT&T in a research note on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and a consensus price target of $30.67.

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.