NorthRock Partners LLC Boosts Stock Holdings in AT&T Inc. $T

NorthRock Partners LLC grew its position in shares of AT&T Inc. (NYSE:T) by 1.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 81,435 shares of the technology company’s stock after acquiring an additional 970 shares during the quarter. NorthRock Partners LLC’s holdings in AT&T were worth $2,357,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Kingstone Capital Partners Texas LLC bought a new stake in AT&T in the 2nd quarter valued at about $5,266,758,000. Nuveen LLC purchased a new position in shares of AT&T during the first quarter worth about $1,072,128,000. GQG Partners LLC grew its holdings in shares of AT&T by 17.7% during the first quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock worth $3,222,711,000 after purchasing an additional 17,177,874 shares in the last quarter. Ontario Teachers Pension Plan Board grew its holdings in shares of AT&T by 30,527.5% during the first quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company’s stock worth $338,213,000 after purchasing an additional 11,920,392 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of AT&T by 350.4% during the first quarter. Wellington Management Group LLP now owns 11,363,940 shares of the technology company’s stock worth $321,372,000 after purchasing an additional 8,841,126 shares in the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Price Performance

Shares of AT&T stock opened at $25.85 on Monday. 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 company has a market cap of $184.82 billion, a PE ratio of 14.69, a P/E/G ratio of 2.10 and a beta of 0.42. The business has a 50 day moving average of $28.45 and a 200 day moving average of $27.88. AT&T Inc. has a 52 week low of $21.05 and a 52 week high of $29.79.

AT&T (NYSE:T) last announced its 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. The company had revenue of $30.85 billion during the quarter, compared to the consensus estimate of $30.44 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.51 earnings per share. As a group, equities research analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Friday, October 10th. AT&T’s dividend payout ratio is currently 63.07%.

Analyst Ratings Changes

Several analysts have issued reports on the company. Morgan Stanley upped their target price on AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 16th. The Goldman Sachs Group assumed coverage on AT&T in a research note on Tuesday, September 2nd. They issued a “buy” rating and a $32.00 target price for the company. Sanford C. Bernstein upped their target price on AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, September 4th. Scotiabank set a $30.25 target price on AT&T and gave the stock a “sector perform” rating in a research note on Monday, October 6th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of AT&T in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $30.75.

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.