Paradigm Asset Management Co. LLC Acquires 8,700 Shares of AT&T Inc. $T

Paradigm Asset Management Co. LLC increased its holdings in AT&T Inc. (NYSE:T) by 16.3% during the second quarter, HoldingsChannel reports. The fund owned 61,980 shares of the technology company’s stock after acquiring an additional 8,700 shares during the quarter. Paradigm Asset Management Co. LLC’s holdings in AT&T were worth $1,794,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in T. Kingstone Capital Partners Texas LLC bought a new stake in AT&T during the second quarter worth $5,266,758,000. Nuveen LLC bought 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% in the 1st quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock valued at $3,222,711,000 after buying an additional 17,177,874 shares during the last quarter. Ontario Teachers Pension Plan Board lifted its position in shares of AT&T by 30,527.5% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company’s stock worth $338,213,000 after buying an additional 11,920,392 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of AT&T by 350.4% in the 1st quarter. Wellington Management Group LLP now owns 11,363,940 shares of the technology company’s stock worth $321,372,000 after buying an additional 8,841,126 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Price Performance

Shares of NYSE:T opened at $24.81 on Friday. The firm has a market capitalization of $175.85 billion, a PE ratio of 8.05, a P/E/G ratio of 2.16 and a beta of 0.40. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 1.01. The company has a 50-day moving average price of $27.14 and a two-hundred day moving average price of $27.62. AT&T Inc. has a twelve month low of $21.38 and a twelve month high of $29.79.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 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 net margin of 17.87% and a return on equity of 12.72%. AT&T’s revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.60 EPS. Equities analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Friday, October 10th were issued a dividend of $0.2775 per share. The ex-dividend date of this dividend was Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.5%. AT&T’s dividend payout ratio is 36.04%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on T. Scotiabank set a $30.25 price target on AT&T and gave the company a “sector perform” rating in a research report on Monday, October 6th. The Goldman Sachs Group began 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. Williams Trading set a $33.00 target price on AT&T in a research report on Thursday, October 23rd. Sanford C. Bernstein boosted their price target on shares of AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, September 4th. Finally, Royal Bank Of Canada reduced their price target on shares of AT&T from $31.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.