New York Life Investment Management LLC Increases Stock Position in AT&T Inc. $T

New York Life Investment Management LLC increased its position in AT&T Inc. (NYSE:T) by 1.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 978,732 shares of the technology company’s stock after purchasing an additional 18,535 shares during the quarter. New York Life Investment Management LLC’s holdings in AT&T were worth $28,325,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Parcion Private Wealth LLC boosted its stake in shares of AT&T by 2.5% during the 2nd quarter. Parcion Private Wealth LLC now owns 14,910 shares of the technology company’s stock valued at $431,000 after buying an additional 364 shares during the last quarter. David J Yvars Group boosted its stake in shares of AT&T by 2.8% during the 2nd quarter. David J Yvars Group now owns 13,884 shares of the technology company’s stock valued at $402,000 after buying an additional 372 shares during the last quarter. AllSquare Wealth Management LLC boosted its stake in shares of AT&T by 7.1% during the 1st quarter. AllSquare Wealth Management LLC now owns 5,704 shares of the technology company’s stock valued at $161,000 after buying an additional 378 shares during the last quarter. Barnes Wealth Management Group Inc boosted its stake in shares of AT&T by 2.6% during the 1st quarter. Barnes Wealth Management Group Inc now owns 15,027 shares of the technology company’s stock valued at $425,000 after buying an additional 380 shares during the last quarter. Finally, Kathmere Capital Management LLC boosted its stake in shares of AT&T by 0.8% during the 2nd quarter. Kathmere Capital Management LLC now owns 50,802 shares of the technology company’s stock valued at $1,470,000 after buying an additional 381 shares during the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Stock Performance

T stock opened at $25.50 on Tuesday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.96 and a current ratio of 1.01. The stock has a market capitalization of $182.35 billion, a price-to-earnings ratio of 8.28, a PEG ratio of 2.03 and a beta of 0.42. AT&T Inc. has a 1 year low of $21.38 and a 1 year high of $29.79. The stock’s fifty day moving average is $27.90 and its two-hundred day moving average is $27.76.

AT&T (NYSE:T) last posted its earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.54. The company had revenue of $30.71 billion for the quarter, compared to analysts’ expectations of $30.85 billion. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period last year, the business posted $0.60 earnings per share. On average, research analysts predict that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The business also recently announced 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 4.4%. The ex-dividend date is Friday, October 10th. AT&T’s dividend payout ratio (DPR) is presently 36.04%.

Analysts Set New Price Targets

Several research firms have recently commented on T. Bank of America began coverage on AT&T in a research note on Monday, July 7th. They set a “buy” rating and a $32.00 target price for the company. HSBC cut AT&T from a “buy” rating to a “hold” rating and set a $30.00 price objective on the stock. in a research note on Thursday, July 24th. Citigroup restated a “buy” rating on shares of AT&T in a research note on Tuesday, August 26th. Raymond James Financial restated a “strong-buy” rating and set a $33.00 price objective (up from $31.00) on shares of AT&T in a research note on Thursday, September 18th. Finally, Williams Trading set a $33.00 price objective on AT&T in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $30.67.

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.