TT Capital Management LLC Takes $1.23 Million Position in AT&T Inc. $T

TT Capital Management LLC purchased a new position in shares of AT&T Inc. (NYSE:T) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 44,708 shares of the technology company’s stock, valued at approximately $1,231,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Front Row Advisors LLC bought a new position in AT&T during the 2nd quarter worth approximately $25,000. O Brien Wealth Partners LLC bought a new position in shares of AT&T in the 2nd quarter worth about $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 period. Solstein Capital LLC grew its position in shares of AT&T by 217.3% during the 2nd quarter. Solstein Capital LLC now owns 952 shares of the technology company’s stock valued at $28,000 after buying an additional 652 shares during the last quarter. Finally, Curio Wealth LLC grew its position in shares of AT&T by 26,100.0% during the 2nd quarter. Curio Wealth LLC now owns 1,048 shares of the technology company’s stock valued at $30,000 after buying an additional 1,044 shares during the last quarter. 57.10% of the stock is owned by institutional investors.

AT&T Stock Up 1.1%

AT&T stock opened at $24.57 on Friday. AT&T Inc. has a 52 week low of $21.38 and a 52 week high of $29.79. The stock has a market cap of $174.20 billion, a price-to-earnings ratio of 7.98, a PEG ratio of 1.44 and a beta of 0.38. The company’s 50-day moving average price is $25.41 and its two-hundred day moving average price is $27.26. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 1.01.

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

AT&T Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on T shares. Wells Fargo & Company cut their target price on shares of AT&T from $31.00 to $29.00 and set an “overweight” rating on the stock in a report on Thursday, October 16th. UBS Group reiterated a “buy” rating on shares of AT&T in a research report on Thursday, October 23rd. Wall Street Zen lowered shares of AT&T from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Scotiabank set a $30.25 price objective on shares of AT&T and gave the company a “sector perform” rating in a research report on Monday, October 6th. Finally, TD Cowen boosted their target price on shares of AT&T from $32.00 to $33.00 and gave the company a “hold” rating in a research note on Thursday, October 23rd. One 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 company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price 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.