Raymond James Financial Services Advisors Inc. Acquires 157,808 Shares of AT&T Inc. (NYSE:T)

Raymond James Financial Services Advisors Inc. raised its holdings in AT&T Inc. (NYSE:T) by 5.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,221,591 shares of the technology company’s stock after purchasing an additional 157,808 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in AT&T were worth $61,565,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in T. Williams Financial LLC bought a new stake in shares of AT&T in the 2nd quarter worth approximately $4,837,000. OFI Invest Asset Management purchased a new stake in shares of AT&T during the 2nd quarter valued at approximately $505,000. TCW Group Inc. boosted its holdings in AT&T by 1.9% in the 2nd quarter. TCW Group Inc. now owns 159,938 shares of the technology company’s stock worth $3,056,000 after buying an additional 3,040 shares during the period. WealthCare Investment Partners LLC raised its holdings in AT&T by 2.2% during the 2nd quarter. WealthCare Investment Partners LLC now owns 24,138 shares of the technology company’s stock valued at $461,000 after acquiring an additional 525 shares during the period. Finally, Oak Harbor Wealth Partners LLC lifted its position in shares of AT&T by 6.2% during the second quarter. Oak Harbor Wealth Partners LLC now owns 13,715 shares of the technology company’s stock worth $262,000 after acquiring an additional 802 shares in the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Stock Down 0.1 %

Shares of NYSE:T opened at $19.47 on Tuesday. The company has a market cap of $139.60 billion, a PE ratio of 10.48, a P/E/G ratio of 3.31 and a beta of 0.58. AT&T Inc. has a 1 year low of $13.92 and a 1 year high of $19.99. The stock’s 50-day moving average is $18.81 and its 200 day moving average is $17.74. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66.

AT&T (NYSE:T) last posted its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.57. The firm had revenue of $29.80 billion for the quarter, compared to the consensus estimate of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The business’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.63 EPS. Sell-side analysts anticipate that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.70%. The ex-dividend date of this dividend was Wednesday, July 10th. AT&T’s payout ratio is 59.68%.

Analyst Ratings Changes

T has been the subject of several recent research reports. Scotiabank cut AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. The Goldman Sachs Group began coverage on shares of AT&T in a report on Monday, July 1st. They issued a “buy” rating and a $22.00 price target on the stock. BNP Paribas raised shares of AT&T from an “underperform” rating to a “neutral” rating in a research note on Tuesday, June 11th. Evercore ISI increased their target price on shares of AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a research note on Thursday, July 25th. Finally, TD Cowen upped their price target on shares of AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.06.

AT&T Company Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.