Friedenthal Financial Takes Position in AT&T Inc. $T

Friedenthal Financial bought a new stake in shares of AT&T Inc. (NYSE:T) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 31,332 shares of the technology company’s stock, valued at approximately $907,000.

Several other institutional investors have also recently made changes to their positions in T. Kingstone Capital Partners Texas LLC purchased a new position in shares of AT&T during the 2nd quarter valued at approximately $5,266,758,000. Nuveen LLC purchased a new position in shares of AT&T during the 1st quarter valued at approximately $1,072,128,000. GQG Partners LLC increased its holdings in AT&T by 17.7% in 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 in the last quarter. Ontario Teachers Pension Plan Board increased its holdings in AT&T by 30,527.5% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company’s stock worth $338,213,000 after acquiring an additional 11,920,392 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in AT&T by 350.4% in the 1st quarter. Wellington Management Group LLP now owns 11,363,940 shares of the technology company’s stock worth $321,372,000 after acquiring an additional 8,841,126 shares in the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Price Performance

AT&T stock opened at $26.13 on Wednesday. AT&T Inc. has a 52-week low of $21.05 and a 52-week high of $29.79. The firm has a market capitalization of $186.85 billion, a price-to-earnings ratio of 14.85, a PEG ratio of 3.31 and a beta of 0.42. The company has a fifty day simple moving average of $28.54 and a 200-day simple moving average of $27.91. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01.

AT&T (NYSE:T) last released its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.01. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The business had revenue of $30.85 billion during the quarter, compared to analyst estimates of $30.44 billion. During the same quarter in the prior year, the firm earned $0.51 earnings per share. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, equities analysts anticipate that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be given 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 dividend yield of 4.2%. AT&T’s payout ratio is presently 63.07%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of AT&T in a report on Saturday, September 27th. Scotiabank set a $30.25 price target on shares of AT&T and gave the stock a “sector perform” rating in a report on Monday. HSBC lowered shares of AT&T from a “buy” rating to a “hold” rating and set a $30.00 price target for the company. in a report on Thursday, July 24th. 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 reissued an “equal weight” rating and issued a $30.00 price target on shares of AT&T in a report on Wednesday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $30.75.

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.