Chicago Partners Investment Group LLC Boosts Stock Position in AT&T Inc. $T

Chicago Partners Investment Group LLC boosted its holdings in AT&T Inc. (NYSE:T) by 0.9% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 63,905 shares of the technology company’s stock after purchasing an additional 566 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in AT&T were worth $1,773,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Sigma Investment Counselors Inc. acquired a new position in AT&T in the second quarter valued at $241,000. Wingate Wealth Advisors Inc. acquired a new position in AT&T in the second quarter valued at $218,000. Arcus Capital Partners LLC acquired a new position in AT&T in the second quarter valued at $205,000. TrueMark Investments LLC boosted its stake in AT&T by 2.4% in the second quarter. TrueMark Investments LLC now owns 450,645 shares of the technology company’s stock valued at $13,042,000 after acquiring an additional 10,748 shares in the last quarter. Finally, Schubert & Co boosted its stake in AT&T by 1.7% in the second quarter. Schubert & Co now owns 25,269 shares of the technology company’s stock valued at $731,000 after acquiring an additional 425 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

Shares of T opened at $26.08 on Tuesday. AT&T Inc. has a fifty-two week low of $21.05 and a fifty-two week high of $29.79. The company has a market capitalization of $186.45 billion, a price-to-earnings ratio of 14.82, a price-to-earnings-growth ratio of 2.13 and a beta of 0.42. The firm has a 50-day simple moving average of $28.23 and a 200-day simple moving average of $27.80. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.01. The firm had revenue of $30.85 billion during the quarter, compared to the consensus estimate of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The firm’s revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.51 earnings per share. On average, equities research analysts anticipate 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 will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be given a $0.2775 dividend. The ex-dividend date is Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.3%. AT&T’s dividend payout ratio (DPR) is presently 63.07%.

Analysts Set New Price Targets

T has been the subject of several research analyst reports. Wells Fargo & Company decreased their price objective on shares of AT&T from $31.00 to $29.00 and set an “overweight” rating for the company in a research note on Thursday, October 16th. The Goldman Sachs Group initiated coverage on shares of AT&T in a research note on Tuesday, September 2nd. They issued a “buy” rating and a $32.00 price objective for the company. Weiss Ratings restated a “buy (b)” rating on shares of AT&T in a research note on Wednesday, October 8th. Hsbc Global Res downgraded shares of AT&T from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 24th. Finally, Barclays reiterated an “equal weight” rating and set a $30.00 target price on shares of AT&T in a research note on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, AT&T presently has an average rating of “Moderate Buy” and an average target price of $30.65.

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.