Park Place Capital Corp Has $321,000 Stock Holdings in AT&T Inc. $T

Park Place Capital Corp trimmed its position in AT&T Inc. (NYSE:T) by 20.9% during the second quarter, HoldingsChannel.com reports. The fund owned 11,122 shares of the technology company’s stock after selling 2,945 shares during the period. Park Place Capital Corp’s holdings in AT&T were worth $321,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Stone House Investment Management LLC bought a new position in shares of AT&T during the 1st quarter worth approximately $25,000. O Brien Wealth Partners LLC bought a new position in AT&T during the second quarter worth $26,000. Hager Investment Management Services LLC boosted its position in AT&T by 182.1% during the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock worth $28,000 after purchasing an additional 641 shares during the period. IMA Advisory Services Inc. bought a new stake in shares of AT&T in the first quarter valued at about $29,000. Finally, Core Alternative Capital boosted its position in shares of AT&T by 125.4% in the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock valued at $29,000 after acquiring an additional 568 shares during the period. 57.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

T has been the subject of a number of analyst reports. Morgan Stanley boosted their price target on AT&T from $31.00 to $32.00 and gave the company an “overweight” rating in a research note on Wednesday, July 16th. Raymond James Financial restated a “strong-buy” rating and set a $33.00 price target (up from $31.00) on shares of AT&T in a report on Thursday, September 18th. Bank of America began coverage on AT&T in a report on Monday, July 7th. They issued a “buy” rating and a $32.00 target price on the stock. HSBC cut AT&T from a “buy” rating to a “hold” rating and set a $30.00 target price on the stock. in a report on Thursday, July 24th. Finally, UBS Group set a $33.00 price target on AT&T in a report on Thursday, September 18th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $30.74.

AT&T Stock Up 0.6%

T stock opened at $28.25 on Wednesday. AT&T Inc. has a fifty-two week low of $21.05 and a fifty-two week high of $29.79. The stock has a fifty day moving average of $28.64 and a 200-day moving average of $27.91. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81. The company has a market capitalization of $202.00 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 3.59 and a beta of 0.44.

AT&T (NYSE:T) last issued its earnings results on Wednesday, July 23rd. The technology company reported $0.54 EPS 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 business had revenue of $30.85 billion during the quarter, compared to the consensus estimate of $30.44 billion. During the same quarter last year, the company earned $0.51 EPS. The firm’s revenue was up 3.4% compared to the same quarter last year. As a group, equities research analysts predict that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders 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 yield of 3.9%. The ex-dividend date of this dividend is Friday, October 10th. AT&T’s payout ratio is 63.07%.

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.