Laffer Tengler Investments Inc. Takes Position in AT&T Inc. $T

Laffer Tengler Investments Inc. acquired a new position in AT&T Inc. (NYSE:T) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 7,888 shares of the technology company’s stock, valued at approximately $228,000.

Several other institutional investors have also recently made changes to their positions in T. Brighton Jones LLC boosted its holdings in shares of AT&T by 26.5% during the 4th quarter. Brighton Jones LLC now owns 48,579 shares of the technology company’s stock valued at $1,106,000 after purchasing an additional 10,188 shares during the last quarter. Ballentine Partners LLC lifted its position in shares of AT&T by 10.0% in the first quarter. Ballentine Partners LLC now owns 98,072 shares of the technology company’s stock worth $2,773,000 after buying an additional 8,942 shares in the last quarter. Schechter Investment Advisors LLC boosted its stake in AT&T by 31.0% during the first quarter. Schechter Investment Advisors LLC now owns 28,165 shares of the technology company’s stock valued at $797,000 after buying an additional 6,667 shares during the last quarter. Satovsky Asset Management LLC grew its holdings in AT&T by 18.5% during the 1st quarter. Satovsky Asset Management LLC now owns 14,394 shares of the technology company’s stock valued at $407,000 after buying an additional 2,247 shares in the last quarter. Finally, Stephens Inc. AR grew its holdings in AT&T by 58.1% during the 1st quarter. Stephens Inc. AR now owns 765,118 shares of the technology company’s stock valued at $21,638,000 after buying an additional 281,124 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 0.3%

Shares of NYSE T opened at $24.81 on Monday. AT&T Inc. has a 1 year low of $21.38 and a 1 year high of $29.79. The firm has a 50-day simple moving average of $27.14 and a two-hundred day simple moving average of $27.63. The company has a market cap of $175.85 billion, a P/E ratio of 8.05, a PEG ratio of 2.16 and a beta of 0.40. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.01 and a quick ratio of 0.96.

AT&T (NYSE:T) last released its earnings results on Wednesday, October 22nd. The technology company reported $0.54 EPS for the quarter, meeting analysts’ consensus estimates of $0.54. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The firm had revenue of $30.71 billion for the quarter, compared to analysts’ expectations of $30.85 billion. During the same quarter in the prior year, the firm posted $0.60 earnings per share. The company’s quarterly revenue was up 1.7% on a year-over-year basis. Research analysts anticipate 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 was paid on Monday, November 3rd. Shareholders of record on Friday, October 10th were paid a $0.2775 dividend. The ex-dividend date 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 (DPR) is presently 36.04%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on T. Barclays decreased their price objective on AT&T from $30.00 to $28.00 and set an “equal weight” rating on the stock in a report on Thursday, October 23rd. UBS Group restated a “buy” rating on shares of AT&T in a research report on Thursday, October 23rd. Sanford C. Bernstein increased their price objective on shares of AT&T from $31.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, September 4th. Raymond James Financial reissued a “strong-buy” rating and issued a $33.00 price objective (up from $31.00) on shares of AT&T in a research note on Thursday, September 18th. Finally, Morgan Stanley upped their target price on shares of AT&T from $31.00 to $32.00 and gave the company an “overweight” rating in a research report on Wednesday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $30.67.

AT&T 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.