Ranch Capital Advisors Inc. Buys 6,505 Shares of AT&T Inc. $T

Ranch Capital Advisors Inc. lifted its stake in shares of AT&T Inc. (NYSE:T) by 4.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 147,939 shares of the technology company’s stock after purchasing an additional 6,505 shares during the quarter. AT&T accounts for about 1.9% of Ranch Capital Advisors Inc.’s portfolio, making the stock its 11th largest position. Ranch Capital Advisors Inc.’s holdings in AT&T were worth $4,281,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of AT&T by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 651,044,650 shares of the technology company’s stock valued at $18,411,543,000 after purchasing an additional 8,185,006 shares during the last quarter. Kingstone Capital Partners Texas LLC bought a new stake in shares of AT&T during the 2nd quarter valued at approximately $5,266,758,000. GQG Partners LLC grew its holdings in AT&T by 17.7% during the 1st quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock worth $3,222,711,000 after acquiring an additional 17,177,874 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in AT&T by 3.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 55,216,190 shares of the technology company’s stock worth $1,561,514,000 after acquiring an additional 1,783,363 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in AT&T by 2.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 53,339,376 shares of the technology company’s stock worth $1,508,411,000 after acquiring an additional 1,307,009 shares during the last quarter. 57.10% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. TD Cowen boosted their target price on shares of AT&T from $32.00 to $33.00 and gave the stock a “hold” rating in a report on Thursday. Cowen reissued a “hold” rating on shares of AT&T in a report on Thursday. Sanford C. Bernstein boosted their target price on shares of AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, September 4th. Citigroup reissued a “buy” rating on shares of AT&T in a report on Tuesday, August 26th. Finally, JPMorgan Chase & Co. boosted their target price on shares of AT&T from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and an average price target of $30.67.

AT&T Stock Up 2.2%

Shares of NYSE T opened at $25.17 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 1.01. AT&T Inc. has a 52-week low of $21.38 and a 52-week high of $29.79. The company’s 50 day moving average price is $27.97 and its 200-day moving average price is $27.75. 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.

AT&T (NYSE:T) last issued its 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. The business had revenue of $30.71 billion for the quarter, compared to analyst estimates of $30.85 billion. AT&T had a net margin of 17.87% and a return on equity of 12.72%. AT&T’s revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.60 earnings per share. Equities analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The business 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 dividend of $0.2775 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.11 annualized dividend and a yield of 4.4%. AT&T’s dividend payout ratio is currently 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.