Triton Financial Group Inc acquired a new stake in shares of AT&T Inc. (NYSE:T – Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 30,322 shares of the technology company’s stock, valued at approximately $628,000.
Other large investors have also recently modified their holdings of the company. Bank of America Corp DE purchased a new stake in AT&T during the 2nd quarter valued at about $2,310,898,000. Norges Bank purchased a new position in AT&T in the 4th quarter worth approximately $2,181,977,000. GQG Partners LLC bought a new stake in AT&T in the second quarter valued at approximately $1,223,364,000. Legal & General Group Plc bought a new stake in AT&T in the second quarter valued at approximately $960,695,000. Finally, Amundi boosted its stake in shares of AT&T by 67.5% during the third quarter. Amundi now owns 42,295,492 shares of the technology company’s stock valued at $1,094,184,000 after purchasing an additional 17,040,328 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.
AT&T Trading Down 1.8%
NYSE T opened at $25.42 on Friday. AT&T Inc. has a fifty-two week low of $19.89 and a fifty-two week high of $29.79. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.93 and a current ratio of 0.97. The stock has a 50 day simple moving average of $23.06 and a two-hundred day simple moving average of $25.23. The stock has a market cap of $174.16 billion, a P/E ratio of 8.42, a price-to-earnings-growth ratio of 1.05 and a beta of 0.23.
AT&T Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 10th were issued a $0.2775 dividend. The ex-dividend date was Friday, July 10th. This represents a $1.11 annualized dividend and a yield of 4.4%. AT&T’s payout ratio is 36.75%.
Analyst Upgrades and Downgrades
Several research analysts have recently issued reports on T shares. Wolfe Research upgraded shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $29.00 target price on the stock in a report on Thursday, July 23rd. Sanford C. Bernstein reiterated an “outperform” rating and set a $25.00 price target on shares of AT&T in a report on Monday, July 13th. TD Cowen increased their price target on shares of AT&T from $32.00 to $33.00 and gave the company a “hold” rating in a research report on Thursday, July 23rd. Argus cut their price target on shares of AT&T from $33.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, July 23rd. Finally, Wall Street Zen upgraded shares of AT&T from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $29.19.
View Our Latest 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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