West Family Investments Inc. Buys 9,367 Shares of AT&T Inc. $T

by · The Markets Daily

West Family Investments Inc. increased its stake in shares of AT&T Inc. (NYSE:T – Free Report) by 24.7% during the 2nd quarter, Holdings Channel.com reports. The fund owned 47,328 shares of the technology company’s stock after purchasing an additional 9,367 shares during the quarter. West Family Investments Inc.’s holdings in AT&T were worth $1,370,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of T. J. L. Bainbridge & Co. Inc. increased its stake in shares of AT&T by 1.7% in 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 during the period. Roberts Glore & Co. Inc. IL boosted its holdings in shares of AT&T by 2.0% during the second quarter. Roberts Glore & Co. Inc. IL now owns 18,386 shares of the technology company’s stock worth $532,000 after purchasing an additional 357 shares during the period. Investment Partners LTD. grew its stake in shares of AT&T by 3.5% in the second quarter. Investment Partners LTD. now owns 10,464 shares of the technology company’s stock worth $303,000 after purchasing an additional 357 shares during the last quarter. Parcion Private Wealth LLC increased its holdings in 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 purchasing an additional 364 shares during the period. Finally, Texas Bank & Trust Co raised its position in AT&T by 0.6% during the 2nd quarter. Texas Bank & Trust Co now owns 64,274 shares of the technology company’s stock valued at $1,860,000 after purchasing an additional 364 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

T has been the topic of several research analyst reports. Royal Bank Of Canada reduced their target price on AT&T from $31.00 to $30.00 and set an “outperform” rating on the stock in a research note on Thursday, October 23rd. Williams Trading set a $33.00 price objective on shares of AT&T in a research report on Thursday, October 23rd. The Goldman Sachs Group assumed coverage on shares of AT&T in a report on Tuesday, September 2nd. They issued a “buy” rating and a $32.00 price objective for the company. TD Cowen lifted their target price on shares of AT&T from $32.00 to $33.00 and gave the company a “hold” rating in a research note on Thursday, October 23rd. Finally, Raymond James Financial reiterated a “strong-buy” rating and set a $33.00 price target (up previously from $31.00) on shares of AT&T in a research report on Thursday, September 18th. 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, AT&T presently has a consensus rating of “Moderate Buy” and an average target price of $30.64.

Check Out Our Latest Analysis on T

AT&T Price Performance

T stock opened at $25.99 on Friday. 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 firm has a 50 day moving average price of $26.02 and a 200-day moving average price of $27.42. AT&T Inc. has a 52-week low of $21.38 and a 52-week high of $29.79. The firm has a market capitalization of $184.25 billion, a price-to-earnings ratio of 8.44, a PEG ratio of 2.16 and a beta of 0.40.

AT&T (NYSE:T – Get Free Report) last posted its quarterly 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 company had revenue of $30.71 billion for the quarter, compared to the consensus estimate of $30.85 billion. During the same quarter in the prior year, the business posted $0.60 EPS. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. Equities research analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

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

About AT&T

(Free Report)

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.

Further Reading

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