Veery Capital LLC Buys 405 Shares of AT&T Inc. $T

Veery Capital LLC lifted its stake in shares of AT&T Inc. (NYSE:T) by 4.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,541 shares of the technology company’s stock after purchasing an additional 405 shares during the period. Veery Capital LLC’s holdings in AT&T were worth $305,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC lifted its stake in shares of AT&T by 26.5% during the fourth quarter. Brighton Jones LLC now owns 48,579 shares of the technology company’s stock valued at $1,106,000 after acquiring an additional 10,188 shares during the period. Yoffe Investment Management LLC bought a new stake in AT&T during the 4th quarter worth about $213,000. Occudo Quantitative Strategies LP acquired a new position in AT&T during the 4th quarter valued at about $324,000. ProShare Advisors LLC boosted its stake in shares of AT&T by 14.1% in the 4th quarter. ProShare Advisors LLC now owns 1,063,500 shares of the technology company’s stock valued at $24,216,000 after purchasing an additional 131,702 shares during the last quarter. Finally, Rafferty Asset Management LLC boosted its stake in shares of AT&T by 12.5% in the 4th quarter. Rafferty Asset Management LLC now owns 622,809 shares of the technology company’s stock valued at $14,181,000 after purchasing an additional 69,362 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Price Performance

Shares of T stock opened at $29.59 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01. AT&T Inc. has a 12-month low of $21.05 and a 12-month high of $29.79. The firm has a fifty day moving average of $28.31 and a 200-day moving average of $27.73. The firm has a market capitalization of $211.58 billion, a price-to-earnings ratio of 16.81, a price-to-earnings-growth ratio of 3.67 and a beta of 0.44.

AT&T (NYSE:T) last posted its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.01. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The firm had revenue of $30.85 billion for the quarter, compared to analyst estimates of $30.44 billion. During the same period in the previous year, the company posted $0.51 earnings per share. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. On average, equities research analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Thursday, July 10th. AT&T’s payout ratio is 63.07%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on T shares. Scotiabank boosted their price target on shares of AT&T from $29.50 to $30.00 and gave the stock a “sector outperform” rating in a research note on Friday, July 11th. HSBC cut shares of AT&T from a “buy” rating to a “hold” rating and set a $30.00 target price for the company. in a research report on Thursday, July 24th. Bank of America started coverage on AT&T in a research note on Monday, July 7th. They issued a “buy” rating and a $32.00 price target on the stock. JPMorgan Chase & Co. lifted their price objective on AT&T from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Finally, Morgan Stanley upped their price objective on AT&T from $31.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.60.

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.