67,376 Shares in AT&T Inc. $T Bought by Counterpoint Mutual Funds LLC

Counterpoint Mutual Funds LLC bought a new position in shares of AT&T Inc. (NYSE:T) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 67,376 shares of the technology company’s stock, valued at approximately $1,950,000.

Other large investors have also bought and sold shares of the company. Capital A Wealth Management LLC acquired a new stake in AT&T during the 4th quarter worth about $25,000. Stone House Investment Management LLC acquired a new stake in AT&T during the 1st quarter worth about $25,000. O Brien Wealth Partners LLC acquired a new stake in AT&T during the 2nd quarter worth about $26,000. Putney Financial Group LLC acquired a new stake in AT&T during the 4th quarter worth about $27,000. Finally, Hager Investment Management Services LLC grew its holdings in AT&T by 182.1% during the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock worth $28,000 after acquiring an additional 641 shares during the period. 57.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. UBS Group set a $33.00 price target on AT&T in a report on Thursday. Bank of America assumed coverage on AT&T in a report on Monday, July 7th. They set a “buy” rating and a $32.00 price target for the company. Scotiabank increased their price target on AT&T from $29.50 to $30.00 and gave the stock a “sector outperform” rating in a report on Friday, July 11th. Morgan Stanley increased their price target on AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a report on Wednesday, July 16th. Finally, Sanford C. Bernstein raised their target price on AT&T from $31.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, September 4th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $30.74.

AT&T Stock Performance

Shares of T opened at $28.92 on Tuesday. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76. The stock has a 50-day moving average of $28.49 and a 200-day moving average of $27.84. The company has a market cap of $206.79 billion, a PE ratio of 16.43, a P/E/G ratio of 3.59 and a beta of 0.44. AT&T Inc. has a one year low of $21.05 and a one year high of $29.79.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.01. The business had revenue of $30.85 billion during the quarter, compared to the consensus estimate of $30.44 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The company’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.51 EPS. On average, equities research analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were paid a dividend of $0.2775 per share. The ex-dividend date was Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 3.8%. AT&T’s 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.