United Capital Financial Advisors LLC bought a new position in AT&T Inc. (NYSE:T – Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 553,172 shares of the technology company’s stock, valued at approximately $11,451,000.
Several other large investors have also added to or reduced their stakes in T. Dearborn Partners LLC acquired a new position in AT&T during the 2nd quarter valued at about $566,000. WNY Asset Management LLC purchased a new stake in shares of AT&T in the second quarter worth approximately $3,366,000. Bank OZK purchased a new stake in shares of AT&T in the second quarter worth approximately $302,000. Hayek Kallen Investment Management bought a new position in shares of AT&T in the second quarter valued at approximately $1,562,000. Finally, Old North State Trust LLC bought a new position in shares of AT&T in the second quarter valued at approximately $383,000. Institutional investors own 57.10% of the company’s stock.
AT&T Stock Down 1.8%
Shares of NYSE:T opened at $25.42 on Friday. AT&T Inc. has a 1 year low of $19.89 and a 1 year high of $29.79. The company has a market capitalization of $174.16 billion, a PE ratio of 8.42, a price-to-earnings-growth ratio of 1.05 and a beta of 0.23. The business has a fifty day moving average price of $23.06 and a two-hundred day moving average price of $25.23. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.97 and a quick ratio of 0.93.
AT&T Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Friday, July 10th were 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 was Friday, July 10th. AT&T’s payout ratio is presently 36.75%.
Wall Street Analyst Weigh In
T has been the subject of several recent research reports. Barclays decreased their price target on AT&T from $26.00 to $24.00 and set an “equal weight” rating for the company in a report on Wednesday, July 8th. Morgan Stanley increased their target price on shares of AT&T from $25.00 to $27.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Argus dropped their price target on shares of AT&T from $33.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, July 23rd. Wolfe Research upgraded shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $29.00 price target on the stock in a report on Thursday, July 23rd. Finally, Wells Fargo & Company increased their price objective on shares of AT&T from $18.00 to $20.00 and gave the company an “underweight” rating in a research note on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, AT&T has an average rating of “Moderate Buy” and a consensus price target of $29.19.
Get Our Latest Stock Report on AT&T
AT&T Profile
AT&T Inc is a global telecommunications company that provides a broad range of communications and digital entertainment services. Its core activities include consumer and business wireless services, broadband and fiber internet, and network infrastructure. The company operates branded wireless services through AT&T Mobility and deploys fixed-line and fiber networks to deliver high-speed internet and related home services.
AT&T’s product and service portfolio spans mobile voice and data plans, smartphones and device sales, home internet (including fiber-to-the-home where available), and managed connectivity solutions for enterprise customers.
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