SPC Financial Inc. Buys 3,811 Shares of AT&T Inc. $T

SPC Financial Inc. raised its stake in shares of AT&T Inc. (NYSE:T) by 4.1% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 96,987 shares of the technology company’s stock after purchasing an additional 3,811 shares during the period. SPC Financial Inc.’s holdings in AT&T were worth $2,807,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. OFI Invest Asset Management grew its holdings in AT&T by 682.6% during the second quarter. OFI Invest Asset Management now owns 585,185 shares of the technology company’s stock valued at $16,935,000 after purchasing an additional 510,406 shares during the period. Means Investment CO. Inc. grew its holdings in AT&T by 68.6% during the second quarter. Means Investment CO. Inc. now owns 21,073 shares of the technology company’s stock valued at $610,000 after purchasing an additional 8,575 shares during the period. Board of the Pension Protection Fund bought a new stake in AT&T during the second quarter valued at about $802,000. Vanguard Personalized Indexing Management LLC grew its holdings in AT&T by 23.0% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 958,928 shares of the technology company’s stock valued at $27,761,000 after purchasing an additional 179,184 shares during the period. Finally, Concurrent Investment Advisors LLC grew its holdings in AT&T by 28.0% during the second quarter. Concurrent Investment Advisors LLC now owns 401,469 shares of the technology company’s stock valued at $11,619,000 after purchasing an additional 87,816 shares during the period. Institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on T. HSBC lowered AT&T from a “buy” rating to a “hold” rating and set a $30.00 price target for the company. in a report on Thursday, July 24th. The Goldman Sachs Group started coverage on AT&T in a research note on Tuesday, September 2nd. They issued a “buy” rating and a $32.00 price objective for the company. JPMorgan Chase & Co. upped 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. Weiss Ratings reaffirmed a “buy (b)” rating on shares of AT&T in a research note on Wednesday. Finally, Scotiabank set a $30.25 price objective on AT&T and gave the stock a “sector perform” rating in a research note on Monday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $30.75.

AT&T Price Performance

Shares of AT&T stock opened at $25.85 on Friday. The stock has a 50 day moving average of $28.45 and a 200 day moving average of $27.88. AT&T Inc. has a 12 month low of $21.05 and a 12 month high of $29.79. The firm has a market cap of $184.82 billion, a PE ratio of 14.69, a PEG ratio of 2.10 and a beta of 0.42. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01.

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

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be paid a dividend of $0.2775 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.3%. AT&T’s dividend payout ratio is presently 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.