Paradigm Asset Management Co. LLC Buys 8,700 Shares of AT&T Inc. $T

Paradigm Asset Management Co. LLC lifted its position in AT&T Inc. (NYSE:T) by 16.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 61,980 shares of the technology company’s stock after purchasing an additional 8,700 shares during the quarter. Paradigm Asset Management Co. LLC’s holdings in AT&T were worth $1,794,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in T. Kingstone Capital Partners Texas LLC bought a new stake in AT&T during the 2nd quarter worth approximately $5,266,758,000. Nuveen LLC bought a new stake in shares of AT&T during the first quarter worth $1,072,128,000. GQG Partners LLC grew its holdings in shares of AT&T by 17.7% during the first quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock worth $3,222,711,000 after purchasing an additional 17,177,874 shares during the last quarter. Ontario Teachers Pension Plan Board increased its stake in shares of AT&T by 30,527.5% in the first quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company’s stock valued at $338,213,000 after buying an additional 11,920,392 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of AT&T by 350.4% in the first quarter. Wellington Management Group LLP now owns 11,363,940 shares of the technology company’s stock valued at $321,372,000 after buying an additional 8,841,126 shares during the last quarter. 57.10% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on T. Morgan Stanley upped their price target on shares of AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 16th. The Goldman Sachs Group started coverage on shares of AT&T in a research note on Tuesday, September 2nd. They issued a “buy” rating and a $32.00 target price for the company. Wells Fargo & Company decreased their price target on shares of AT&T from $31.00 to $29.00 and set an “overweight” rating on the stock in a research note on Thursday, October 16th. Hsbc Global Res lowered shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 24th. Finally, Barclays dropped their price objective on shares of AT&T from $30.00 to $28.00 and set an “equal weight” rating for the company in a research report on Thursday, October 23rd. One 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’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $30.67.

AT&T Trading Up 0.3%

T opened at $24.81 on Friday. The firm has a market capitalization of $175.85 billion, a price-to-earnings ratio of 8.05, a PEG ratio of 2.16 and a beta of 0.40. The company’s 50 day moving average price is $27.14 and its two-hundred day moving average price is $27.62. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.01 and a quick ratio of 0.96. AT&T Inc. has a fifty-two week low of $21.38 and a fifty-two week high of $29.79.

AT&T (NYSE:T) last announced its earnings results on Wednesday, October 22nd. The technology company reported $0.54 EPS for the quarter, hitting the consensus estimate of $0.54. The firm had revenue of $30.71 billion for the quarter, compared to the consensus estimate of $30.85 billion. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The business’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.60 EPS. As a group, research analysts predict that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Friday, October 10th were paid a $0.2775 dividend. The ex-dividend date was Friday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.5%. AT&T’s payout ratio is currently 36.04%.

About AT&T

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.