Weatherly Asset Management L. P. Has $3.08 Million Stake in AT&T Inc. $T

Weatherly Asset Management L. P. reduced its position in AT&T Inc. (NYSE:T) by 1.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 106,324 shares of the technology company’s stock after selling 1,762 shares during the quarter. Weatherly Asset Management L. P.’s holdings in AT&T were worth $3,077,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of T. Kingstone Capital Partners Texas LLC purchased a new stake in AT&T in the second quarter worth $5,266,758,000. Nuveen LLC acquired a new stake in shares of AT&T during the first quarter worth about $1,072,128,000. GQG Partners LLC boosted 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 acquiring an additional 17,177,874 shares during the last quarter. Ontario Teachers Pension Plan Board raised its holdings in shares of AT&T by 30,527.5% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company’s stock valued at $338,213,000 after buying an additional 11,920,392 shares during the period. Finally, Wellington Management Group LLP boosted its position in shares of AT&T by 350.4% during the 1st quarter. Wellington Management Group LLP now owns 11,363,940 shares of the technology company’s stock worth $321,372,000 after acquiring an additional 8,841,126 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on T shares. Bank of America began coverage on AT&T in a research note on Monday, July 7th. They set a “buy” rating and a $32.00 price objective on the stock. The Goldman Sachs Group assumed coverage on shares of AT&T in a research note on Tuesday, September 2nd. They issued a “buy” rating and a $32.00 target price for the company. Morgan Stanley raised their target price on AT&T from $31.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday, July 16th. JPMorgan Chase & Co. boosted their price target on shares of AT&T from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Finally, HSBC cut shares of AT&T from a “buy” rating to a “hold” rating and set a $30.00 price target for the company. in a research report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $30.74.

AT&T Price Performance

Shares of NYSE:T opened at $29.04 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. The stock has a market cap of $207.65 billion, a PE ratio of 16.50, a PEG ratio of 3.61 and a beta of 0.44. AT&T Inc. has a 52 week low of $21.05 and a 52 week high of $29.79. The company’s fifty day moving average is $28.45 and its 200 day moving average is $27.81.

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

AT&T Announces Dividend

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

AT&T 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.