REAP Financial Group LLC Boosts Holdings in AT&T Inc. $T

REAP Financial Group LLC raised its stake in shares of AT&T Inc. (NYSE:T) by 50.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,953 shares of the technology company’s stock after purchasing an additional 993 shares during the period. REAP Financial Group LLC’s holdings in AT&T were worth $85,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in T. Kingstone Capital Partners Texas LLC purchased a new position in shares of AT&T in the second quarter worth about $5,266,758,000. Nuveen LLC purchased a new position in shares of AT&T in the first quarter worth about $1,072,128,000. GQG Partners LLC lifted its stake in shares of AT&T by 17.7% in the first quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock worth $3,222,711,000 after buying an additional 17,177,874 shares in the last quarter. Ontario Teachers Pension Plan Board lifted its stake in shares of AT&T by 30,527.5% in the first quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company’s stock worth $338,213,000 after buying an additional 11,920,392 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in shares of AT&T by 350.4% in the first quarter. Wellington Management Group LLP now owns 11,363,940 shares of the technology company’s stock worth $321,372,000 after buying an additional 8,841,126 shares in the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Morgan Stanley raised their price target on shares of AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 16th. Citigroup reissued a “buy” rating on shares of AT&T in a research note on Tuesday, August 26th. Raymond James Financial reissued a “strong-buy” rating and issued a $33.00 price target (up from $31.00) on shares of AT&T in a research note on Thursday, September 18th. Wells Fargo & Company raised their price target on shares of AT&T from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Thursday, July 10th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of AT&T in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.75.

AT&T Price Performance

Shares of T stock opened at $26.24 on Thursday. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76. The firm’s 50-day moving average is $28.51 and its two-hundred day moving average is $27.90. AT&T Inc. has a 12 month low of $21.05 and a 12 month high of $29.79. The company has a market capitalization of $187.63 billion, a PE ratio of 14.91, a price-to-earnings-growth ratio of 3.35 and a beta of 0.42.

AT&T (NYSE:T) last issued its earnings results on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $30.44 billion. During the same period in the previous year, the firm earned $0.51 earnings per share. AT&T’s quarterly revenue was up 3.4% compared to the same quarter last year. 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 declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Friday, October 10th. AT&T’s payout ratio is 63.07%.

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.