AT&T Inc. $T Shares Purchased by Prudential Financial Inc.

Prudential Financial Inc. grew its stake in shares of AT&T Inc. (NYSE:T) by 60.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,988,424 shares of the technology company’s stock after buying an additional 3,399,647 shares during the period. Prudential Financial Inc. owned 0.13% of AT&T worth $260,121,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Coldstream Capital Management Inc. increased its position in AT&T by 6.9% during the 2nd quarter. Coldstream Capital Management Inc. now owns 413,030 shares of the technology company’s stock worth $11,953,000 after purchasing an additional 26,719 shares in the last quarter. Providence Wealth Advisors LLC lifted its holdings in AT&T by 44.4% in the 2nd quarter. Providence Wealth Advisors LLC now owns 27,866 shares of the technology company’s stock valued at $775,000 after purchasing an additional 8,568 shares in the last quarter. Shakespeare Wealth Management LLC boosted its stake in shares of AT&T by 20.4% during the 2nd quarter. Shakespeare Wealth Management LLC now owns 8,586 shares of the technology company’s stock worth $248,000 after purchasing an additional 1,455 shares during the last quarter. J. L. Bainbridge & Co. Inc. grew its holdings in shares of AT&T by 1.7% during the second quarter. J. L. Bainbridge & Co. Inc. now owns 21,253 shares of the technology company’s stock worth $615,000 after buying an additional 355 shares in the last quarter. Finally, Enterprise Financial Services Corp grew its holdings in shares of AT&T by 1.2% during the second quarter. Enterprise Financial Services Corp now owns 40,268 shares of the technology company’s stock worth $1,165,000 after buying an additional 466 shares in the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Stock Up 1.6%

Shares of T opened at $25.94 on Friday. AT&T Inc. has a fifty-two week low of $21.38 and a fifty-two week high of $29.79. The company’s fifty day moving average is $26.37 and its two-hundred day moving average is $27.48. The firm has a market cap of $183.90 billion, a PE ratio of 8.42, 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.

AT&T (NYSE:T) last issued its earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, hitting the consensus estimate of $0.54. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The business 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 posted $0.60 EPS. The business’s quarterly revenue was up 1.7% on a year-over-year basis. Analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Friday, October 10th were issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date was Friday, October 10th. AT&T’s dividend payout ratio (DPR) is 36.04%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on T shares. TD Cowen raised their target price on shares of AT&T from $32.00 to $33.00 and gave the stock a “hold” rating in a research report on Thursday, October 23rd. The Goldman Sachs Group initiated coverage on AT&T in a research note on Tuesday, September 2nd. They set a “buy” rating and a $32.00 price target on the stock. Sanford C. Bernstein raised their price objective on AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, September 4th. Williams Trading set a $33.00 target price on AT&T in a research note on Thursday, October 23rd. Finally, Citigroup reiterated a “buy” rating on shares of AT&T in a research report on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $30.64.

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.