Greenland Capital Management LP Increases Holdings in AT&T Inc. $T

Greenland Capital Management LP raised its stake in shares of AT&T Inc. (NYSE:T) by 189.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 406,068 shares of the technology company’s stock after buying an additional 265,917 shares during the quarter. AT&T comprises 1.2% of Greenland Capital Management LP’s portfolio, making the stock its 16th largest holding. Greenland Capital Management LP’s holdings in AT&T were worth $11,752,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Denali Advisors LLC increased its stake in AT&T by 5.9% in the second quarter. Denali Advisors LLC now owns 401,037 shares of the technology company’s stock valued at $11,606,000 after acquiring an additional 22,394 shares during the last quarter. Tredje AP fonden boosted its holdings in shares of AT&T by 1.8% in the 2nd quarter. Tredje AP fonden now owns 1,221,395 shares of the technology company’s stock worth $35,347,000 after purchasing an additional 21,720 shares in the last quarter. CHURCHILL MANAGEMENT Corp raised its holdings in shares of AT&T by 1.5% during the 2nd quarter. CHURCHILL MANAGEMENT Corp now owns 324,104 shares of the technology company’s stock valued at $9,380,000 after buying an additional 4,793 shares in the last quarter. Kickstand Ventures LLC. purchased a new position in shares of AT&T during the 2nd quarter valued at about $489,000. Finally, Sentry Investment Management LLC lifted its position in AT&T by 153.2% in the 2nd quarter. Sentry Investment Management LLC now owns 22,095 shares of the technology company’s stock worth $625,000 after buying an additional 13,370 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors.

AT&T Price Performance

Shares of AT&T stock opened at $25.61 on Wednesday. AT&T Inc. has a 12-month low of $21.38 and a 12-month high of $29.79. The firm has a market cap of $181.53 billion, a PE ratio of 8.31, a price-to-earnings-growth 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’s fifty day simple moving average is $26.60 and its two-hundred day simple moving average is $27.53.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, hitting 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 analyst estimates of $30.85 billion. During the same period last year, the company earned $0.60 EPS. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. As a group, equities analysts expect that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Friday, October 10th were given a dividend of $0.2775 per share. The ex-dividend date was Friday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.3%. AT&T’s payout ratio is currently 36.04%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on T. HSBC cut shares of AT&T from a “buy” rating to a “hold” rating and set a $30.00 price target on the stock. in a research report on Thursday, July 24th. JPMorgan Chase & Co. increased their target price on shares of AT&T from $31.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Scotiabank set a $30.25 target price on shares of AT&T and gave the stock a “sector perform” rating in a research report on Monday, October 6th. Barclays lowered their price target on shares of AT&T from $30.00 to $28.00 and set an “equal weight” rating for the company in a research note on Thursday, October 23rd. Finally, The Goldman Sachs Group started coverage on AT&T in a research note on Tuesday, September 2nd. They set a “buy” rating and a $32.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $30.64.

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.