Sequoia Financial Advisors LLC Increases Stock Holdings in AT&T Inc. $T

Sequoia Financial Advisors LLC increased its holdings in AT&T Inc. (NYSE:T) by 6.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 403,893 shares of the technology company’s stock after purchasing an additional 26,147 shares during the period. Sequoia Financial Advisors LLC’s holdings in AT&T were worth $11,689,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in T. Kingstone Capital Partners Texas LLC purchased a new stake in shares of AT&T in the second quarter valued at $5,266,758,000. Nuveen LLC purchased a new stake in shares of AT&T in the first quarter valued at $1,072,128,000. GQG Partners LLC grew its position in AT&T by 17.7% during the first quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock valued at $3,222,711,000 after acquiring an additional 17,177,874 shares during the period. Ontario Teachers Pension Plan Board grew its position in 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 valued at $338,213,000 after acquiring an additional 11,920,392 shares during the period. Finally, Wellington Management Group LLP grew its position in 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 valued at $321,372,000 after acquiring an additional 8,841,126 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

Shares of NYSE T opened at $25.57 on Tuesday. AT&T Inc. has a 1-year low of $21.05 and a 1-year high of $29.79. The business has a 50-day moving average of $28.41 and a 200-day moving average of $27.86. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76. The company has a market capitalization of $182.80 billion, a price-to-earnings ratio of 14.53, a PEG ratio of 2.10 and a beta of 0.42.

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

AT&T Dividend Announcement

The firm 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 $0.2775 dividend. The ex-dividend date is Friday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.3%. AT&T’s payout ratio is 63.07%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on T. 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 report on Wednesday, July 16th. Wells Fargo & Company boosted their price target on AT&T from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Thursday, July 10th. Barclays reissued an “equal weight” rating and set a $30.00 price target on shares of AT&T in a research report on Wednesday, October 1st. HSBC downgraded 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. Finally, The Goldman Sachs Group began coverage on AT&T in a research report on Tuesday, September 2nd. They set a “buy” rating and a $32.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, AT&T has a consensus 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.