AT&T Inc. (NYSE:T) Shares Bought by Ballentine Partners LLC

Ballentine Partners LLC lifted its stake in AT&T Inc. (NYSE:T) by 4.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 78,970 shares of the technology company’s stock after acquiring an additional 3,168 shares during the period. Ballentine Partners LLC’s holdings in AT&T were worth $1,509,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Cantor Fitzgerald Investment Advisors L.P. bought a new stake in shares of AT&T in the 4th quarter worth approximately $11,554,000. Clearbridge Investments LLC raised its holdings in shares of AT&T by 250.3% in the 4th quarter. Clearbridge Investments LLC now owns 67,303 shares of the technology company’s stock worth $1,129,000 after purchasing an additional 48,091 shares in the last quarter. Skopos Labs Inc. bought a new stake in shares of AT&T in the 4th quarter worth approximately $839,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of AT&T by 4.3% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 1,037,529 shares of the technology company’s stock valued at $19,827,000 after acquiring an additional 43,062 shares during the period. Finally, M&G Plc acquired a new stake in shares of AT&T during the first quarter valued at approximately $9,074,000. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Stock Performance

T stock opened at $20.97 on Monday. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $150.36 billion, a price-to-earnings ratio of 11.27, a P/E/G ratio of 3.57 and a beta of 0.59. AT&T Inc. has a 12 month low of $14.12 and a 12 month high of $21.00. The firm has a 50 day moving average of $19.31 and a two-hundred day moving average of $18.02.

AT&T (NYSE:T) last posted its earnings results on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, hitting the consensus estimate of $0.57. The company had revenue of $29.80 billion during the quarter, compared to the consensus estimate of $30.05 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The company’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.63 earnings per share. As a group, equities analysts anticipate that AT&T Inc. will post 2.2 EPS for the current fiscal 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 given a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 5.29%. The ex-dividend date of this dividend was Wednesday, July 10th. AT&T’s dividend payout ratio is 59.68%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Daiwa America upgraded shares of AT&T to a “hold” rating in a report on Friday, July 26th. UBS Group restated a “buy” rating and set a $24.00 price target on shares of AT&T in a report on Tuesday, June 18th. Evercore ISI boosted their price target on shares of AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a report on Thursday, July 25th. Barclays boosted their price target on shares of AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Finally, JPMorgan Chase & Co. boosted their price target on shares of AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $22.06.

About AT&T

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.