AlTi Global Inc. Has $774,000 Holdings in AT&T Inc. $T

AlTi Global Inc. raised its holdings in AT&T Inc. (NYSE:T) by 119.4% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 26,860 shares of the technology company’s stock after acquiring an additional 14,619 shares during the quarter. AlTi Global Inc.’s holdings in AT&T were worth $774,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Denali Advisors LLC lifted 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 buying an additional 22,394 shares during the period. CHURCHILL MANAGEMENT Corp lifted its stake in AT&T by 1.5% in the second 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 during the period. Kickstand Ventures LLC. acquired a new position in AT&T in the second quarter valued at approximately $489,000. Sentry Investment Management LLC lifted its stake in AT&T by 153.2% in the second quarter. Sentry Investment Management LLC now owns 22,095 shares of the technology company’s stock valued at $625,000 after buying an additional 13,370 shares during the period. Finally, ASR Vermogensbeheer N.V. raised its position in shares of AT&T by 1.4% during the second quarter. ASR Vermogensbeheer N.V. now owns 722,568 shares of the technology company’s stock worth $20,910,000 after purchasing an additional 9,970 shares during the period. 57.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on T shares. TD Cowen upped their target price on AT&T from $32.00 to $33.00 and gave the stock a “hold” rating in a research report on Thursday. Hsbc Global Res lowered AT&T from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 24th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $33.00 target price (up from $31.00) on shares of AT&T in a research report on Thursday, September 18th. UBS Group reaffirmed a “buy” rating on shares of AT&T in a research report on Thursday. Finally, Cowen reaffirmed a “hold” rating on shares of AT&T in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $30.67.

AT&T Trading Up 2.2%

Shares of AT&T stock opened at $25.17 on Friday. The stock has a fifty day simple moving average of $27.97 and a 200 day simple moving average of $27.75. AT&T Inc. has a 12-month low of $21.38 and a 12-month high of $29.79. The company has a market capitalization of $179.95 billion, a P/E ratio of 8.17, a price-to-earnings-growth ratio of 1.99 and a beta of 0.42. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $30.85 billion. During the same quarter in the prior year, the company posted $0.60 earnings per share. AT&T’s revenue was up 1.7% compared to the same quarter last year. On average, sell-side analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date is Friday, October 10th. AT&T’s dividend payout ratio is 63.07%.

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.