Crewe Advisors LLC Increases Position in AT&T Inc. $T

Crewe Advisors LLC boosted its holdings in shares of AT&T Inc. (NYSE:T) by 9.7% during the second quarter, HoldingsChannel.com reports. The firm owned 6,287 shares of the technology company’s stock after purchasing an additional 557 shares during the period. Crewe Advisors LLC’s holdings in AT&T were worth $182,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on T. Sanford C. Bernstein lifted their price target on AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, September 4th. Morgan Stanley raised their price objective on AT&T from $31.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday, July 16th. HSBC lowered shares of AT&T from a “buy” rating to a “hold” rating and set a $30.00 target price for the company. in a report on Thursday, July 24th. Hsbc Global Res downgraded shares of AT&T from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 24th. Finally, Wells Fargo & Company lowered their price target on shares of AT&T from $31.00 to $29.00 and set an “overweight” rating on the stock in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $30.65.

AT&T Stock Up 0.5%

Shares of T opened at $26.33 on Monday. AT&T Inc. has a 52-week low of $21.05 and a 52-week high of $29.79. 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 fifty day simple moving average of $28.27 and a two-hundred day simple moving average of $27.80. The company has a market capitalization of $188.24 billion, a PE ratio of 14.96, a price-to-earnings-growth ratio of 2.13 and a beta of 0.42.

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

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be issued a dividend of $0.2775 per share. The ex-dividend date is Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.2%. AT&T’s dividend payout ratio (DPR) is currently 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.