Magnus Financial Group LLC raised its stake in shares of AT&T Inc. (NYSE:T) by 17.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,659 shares of the technology company’s stock after acquiring an additional 3,204 shares during the quarter. Magnus Financial Group LLC’s holdings in AT&T were worth $726,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of T. Kavar Capital Partners LLC raised its holdings in shares of AT&T by 3.0% in the second quarter. Kavar Capital Partners LLC now owns 99,006 shares of the technology company’s stock valued at $3,318,000 after buying an additional 2,914 shares during the last quarter. Investment Partners LTD. raised its holdings in shares of AT&T by 36.5% in the second quarter. Investment Partners LTD. now owns 33,247 shares of the technology company’s stock valued at $1,114,000 after buying an additional 8,892 shares during the last quarter. JGP Wealth Management LLC raised its holdings in shares of AT&T by 2.7% in the second quarter. JGP Wealth Management LLC now owns 130,198 shares of the technology company’s stock valued at $4,363,000 after buying an additional 3,373 shares during the last quarter. Canandaigua National Bank & Trust Co. raised its holdings in shares of AT&T by 12.8% in the second quarter. Canandaigua National Bank & Trust Co. now owns 156,190 shares of the technology company’s stock valued at $5,234,000 after buying an additional 17,734 shares during the last quarter. Finally, Nicolet Bankshares Inc. raised its holdings in shares of AT&T by 2.3% in the second quarter. Nicolet Bankshares Inc. now owns 14,970 shares of the technology company’s stock valued at $502,000 after buying an additional 340 shares during the last quarter. 52.63% of the stock is owned by institutional investors.
T has been the subject of a number of research analyst reports. Morgan Stanley reaffirmed a “buy” rating and issued a $37.00 price target on shares of AT&T in a report on Thursday, August 1st. Bank of America reaffirmed a “buy” rating and issued a $37.00 price target on shares of AT&T in a report on Monday, June 24th. Desjardins reaffirmed an “average” rating and issued a $55.50 price target on shares of AT&T in a report on Tuesday, August 6th. ValuEngine cut AT&T from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Finally, Credit Suisse Group upgraded AT&T from an “underperform” rating to a “neutral” rating and set a $29.00 price objective for the company in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the stock. AT&T has a consensus rating of “Buy” and a consensus price target of $36.72.
T stock traded up $0.17 during midday trading on Thursday, reaching $35.33. The stock had a trading volume of 1,610,535 shares, compared to its average volume of 33,966,472. The business has a fifty day simple moving average of $33.98 and a two-hundred day simple moving average of $31.98. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.81. The firm has a market cap of $258.52 billion, a price-to-earnings ratio of 10.04, a PEG ratio of 2.22 and a beta of 0.62. AT&T Inc. has a twelve month low of $26.80 and a twelve month high of $35.44.
AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.89 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.89. The firm had revenue of $44.96 billion during the quarter, compared to analyst estimates of $44.97 billion. AT&T had a return on equity of 13.38% and a net margin of 9.47%. The company’s revenue was up 15.3% on a year-over-year basis. During the same period last year, the company earned $0.91 earnings per share. On average, equities analysts predict that AT&T Inc. will post 3.56 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were given a $0.51 dividend. The ex-dividend date was Tuesday, July 9th. This represents a $2.04 dividend on an annualized basis and a yield of 5.77%. AT&T’s payout ratio is 57.95%.
AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.
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