Phoenix Financial Ltd. Boosts Stake in AT&T Inc. $T

Phoenix Financial Ltd. increased its position in AT&T Inc. (NYSE:T) by 189.1% during the second quarter, Holdings Channel.com reports. The institutional investor owned 71,862 shares of the technology company’s stock after purchasing an additional 47,001 shares during the period. Phoenix Financial Ltd.’s holdings in AT&T were worth $2,079,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in T. Stone House Investment Management LLC bought a new stake in AT&T during the first quarter worth approximately $25,000. O Brien Wealth Partners LLC bought a new stake in AT&T during the second quarter worth approximately $26,000. Hager Investment Management Services LLC increased its stake in AT&T by 182.1% during the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock worth $28,000 after acquiring an additional 641 shares during the last quarter. Kennebec Savings Bank increased its stake in AT&T by 412.1% during the second quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock worth $28,000 after acquiring an additional 783 shares during the last quarter. Finally, Core Alternative Capital increased its stake in AT&T by 125.4% during the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock worth $29,000 after acquiring an additional 568 shares during the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on T. HSBC cut AT&T from a “buy” rating to a “hold” rating and set a $30.00 target price on the stock. in a research note on Thursday, July 24th. JPMorgan Chase & Co. upped their target price on AT&T from $31.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Morgan Stanley upped their target price on AT&T from $31.00 to $32.00 and gave the company an “overweight” rating in a research note on Wednesday, July 16th. Citigroup reaffirmed a “buy” rating on shares of AT&T in a research note on Tuesday, August 26th. Finally, Barclays reaffirmed 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 research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $30.65.

AT&T Stock Down 0.3%

AT&T stock opened at $26.01 on Wednesday. The business has a fifty day moving average of $28.18 and a two-hundred day moving average of $27.78. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01. The firm has a market cap of $185.98 billion, a P/E ratio of 14.78, a P/E/G ratio of 2.12 and a beta of 0.42. AT&T Inc. has a twelve month low of $21.05 and a twelve month high of $29.79.

AT&T (NYSE:T) last posted its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.01. The company had revenue of $30.85 billion during the quarter, compared to analyst estimates of $30.44 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%.AT&T’s revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.51 earnings per share. On average, analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be paid 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 63.07%.

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.