Abacus Planning Group Inc. Increases Position in AT&T Inc. (NYSE:T)

Abacus Planning Group Inc. lifted its position in shares of AT&T Inc. (NYSE:T) by 40.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 28,394 shares of the technology company’s stock after buying an additional 8,177 shares during the quarter. Abacus Planning Group Inc.’s holdings in AT&T were worth $1,074,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in T. JJJ Advisors Inc. acquired a new position in AT&T during the third quarter worth approximately $27,000. Horan Securities Inc. increased its position in AT&T by 439.2% during the second quarter. Horan Securities Inc. now owns 1,019 shares of the technology company’s stock worth $34,000 after purchasing an additional 830 shares during the last quarter. Next Capital Management LLC acquired a new position in AT&T during the second quarter worth approximately $39,000. Contravisory Investment Management Inc. increased its position in AT&T by 36.0% during the second quarter. Contravisory Investment Management Inc. now owns 1,277 shares of the technology company’s stock worth $43,000 after purchasing an additional 338 shares during the last quarter. Finally, Centaurus Financial Inc. increased its position in AT&T by 24.4% during the first quarter. Centaurus Financial Inc. now owns 1,700 shares of the technology company’s stock worth $54,000 after purchasing an additional 333 shares during the last quarter. 52.94% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of AT&T from $39.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. UBS Group upped their price target on shares of AT&T from $38.00 to $42.00 and gave the stock a “buy” rating in a research report on Monday. Morgan Stanley set a $37.00 price objective on shares of AT&T and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Credit Suisse Group raised shares of AT&T from an “underperform” rating to a “neutral” rating and set a $29.00 price objective for the company in a research report on Thursday, July 25th. Finally, Cowen set a $40.00 price objective on shares of AT&T and gave the stock a “buy” rating in a research report on Friday, September 6th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $38.90.

AT&T stock opened at $39.25 on Thursday. AT&T Inc. has a 52-week low of $26.80 and a 52-week high of $39.50. The firm has a fifty day moving average of $37.77 and a 200-day moving average of $34.38. The firm has a market capitalization of $286.80 billion, a P/E ratio of 11.15, a PEG ratio of 2.45 and a beta of 0.64. The company has a quick ratio of 0.71, a current ratio of 0.74 and a debt-to-equity ratio of 0.79.

AT&T (NYSE:T) last released its quarterly earnings data on Monday, October 28th. The technology company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.01. AT&T had a net margin of 8.97% and a return on equity of 13.42%. The company had revenue of $44.59 billion during the quarter, compared to analyst estimates of $45.45 billion. During the same quarter in the prior year, the business earned $0.90 earnings per share. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. On average, research analysts expect that AT&T Inc. will post 3.57 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 5.20%. The ex-dividend date of this dividend was Wednesday, October 9th. AT&T’s payout ratio is currently 57.95%.

AT&T Profile

AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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