King Luther Capital Management Corp Buys 94,368 Shares of AT&T Inc. $T

King Luther Capital Management Corp grew its stake in shares of AT&T Inc. (NYSE:T) by 5.5% during the 2nd quarter, Holdings Channel reports. The firm owned 1,822,635 shares of the technology company’s stock after buying an additional 94,368 shares during the period. King Luther Capital Management Corp’s holdings in AT&T were worth $52,747,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Roberts Glore & Co. Inc. IL grew its stake in shares of AT&T by 2.0% in the second quarter. Roberts Glore & Co. Inc. IL now owns 18,386 shares of the technology company’s stock valued at $532,000 after buying an additional 357 shares in the last quarter. PFG Advisors lifted its stake in AT&T by 25.6% in the second quarter. PFG Advisors now owns 38,684 shares of the technology company’s stock valued at $1,120,000 after acquiring an additional 7,883 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC grew its position in shares of AT&T by 3.7% in the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 50,738 shares of the technology company’s stock valued at $1,468,000 after acquiring an additional 1,803 shares during the period. Summit Asset Management LLC increased its stake in shares of AT&T by 2.0% during the 2nd quarter. Summit Asset Management LLC now owns 45,758 shares of the technology company’s stock worth $1,324,000 after purchasing an additional 903 shares during the last quarter. Finally, Midwest Trust Co bought a new stake in shares of AT&T in the 2nd quarter valued at about $2,523,000. Institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on T. TD Cowen lifted their price target on AT&T from $32.00 to $33.00 and gave the stock a “hold” rating in a report on Thursday, October 23rd. Williams Trading set a $33.00 target price on AT&T in a research note on Thursday, October 23rd. Morgan Stanley boosted their target price on AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a report on Wednesday, July 16th. Scotiabank set a $30.25 price target on AT&T and gave the company a “sector perform” rating in a report on Monday, October 6th. Finally, Wells Fargo & Company decreased their price objective on shares of AT&T from $31.00 to $29.00 and set an “overweight” rating on the stock in a report on Thursday, October 16th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and a consensus target price of $30.67.

AT&T Stock Performance

Shares of NYSE T opened at $24.81 on Friday. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.01 and a quick ratio of 0.96. The stock’s fifty day moving average price is $27.14 and its two-hundred day moving average price is $27.62. AT&T Inc. has a one year low of $21.38 and a one year high of $29.79. The firm has a market cap of $175.85 billion, a price-to-earnings ratio of 8.05, a P/E/G ratio of 2.16 and a beta of 0.40.

AT&T (NYSE:T) last announced its earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.54. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The company had revenue of $30.71 billion during the quarter, compared to analysts’ expectations of $30.85 billion. During the same quarter in the previous year, the business posted $0.60 earnings per share. AT&T’s quarterly revenue was up 1.7% on a year-over-year basis. On average, equities analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

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

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.