SPC Financial Inc. Buys 3,811 Shares of AT&T Inc. $T

SPC Financial Inc. grew its stake in AT&T Inc. (NYSE:T) by 4.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 96,987 shares of the technology company’s stock after acquiring an additional 3,811 shares during the quarter. SPC Financial Inc.’s holdings in AT&T were worth $2,807,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in T. Kingstone Capital Partners Texas LLC bought a new stake in AT&T in the second quarter worth $5,266,758,000. Nuveen LLC bought a new stake in AT&T in the first quarter worth $1,072,128,000. GQG Partners LLC boosted its holdings in AT&T by 17.7% in the first 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 boosted its holdings in 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 worth $338,213,000 after acquiring an additional 11,920,392 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in 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 worth $321,372,000 after acquiring an additional 8,841,126 shares in the last quarter. 57.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

T has been the topic of several analyst reports. JPMorgan Chase & Co. boosted their target price on AT&T from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Morgan Stanley boosted their price target on AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 16th. Hsbc Global Res cut AT&T from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 24th. Citigroup restated a “buy” rating on shares of AT&T in a research note on Tuesday, August 26th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of AT&T in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned 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 an average price target of $30.75.

AT&T Stock Down 1.0%

AT&T stock opened at $25.85 on Friday. The stock has a market cap of $184.82 billion, a PE ratio of 14.69, a price-to-earnings-growth ratio of 2.10 and a beta of 0.42. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81. AT&T Inc. has a one year low of $21.05 and a one year high of $29.79. The stock has a fifty day moving average of $28.45 and a 200 day moving average of $27.88.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.01. The company had revenue of $30.85 billion during the quarter, compared to analysts’ expectations of $30.44 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%.AT&T’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.51 earnings per share. As a group, sell-side analysts predict that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Friday, October 10th. AT&T’s dividend payout ratio is 63.07%.

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.