Naples Global Advisors LLC Purchases 1,604 Shares of AT&T Inc. $T

Naples Global Advisors LLC raised its position in AT&T Inc. (NYSE:T) by 18.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,523 shares of the technology company’s stock after buying an additional 1,604 shares during the quarter. Naples Global Advisors LLC’s holdings in AT&T were worth $305,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capstone Wealth Management LLC bought a new position in AT&T in the 1st quarter worth about $201,000. Wedmont Private Capital increased its stake in AT&T by 7.9% in the 1st quarter. Wedmont Private Capital now owns 123,247 shares of the technology company’s stock worth $3,302,000 after acquiring an additional 9,027 shares during the last quarter. Xponance Inc. increased its stake in AT&T by 10.2% in the 1st quarter. Xponance Inc. now owns 1,109,933 shares of the technology company’s stock worth $31,389,000 after acquiring an additional 102,419 shares during the last quarter. NBT Bank N A NY increased its stake in AT&T by 7.5% in the 1st quarter. NBT Bank N A NY now owns 129,428 shares of the technology company’s stock worth $3,660,000 after acquiring an additional 8,989 shares during the last quarter. Finally, Jackson Wealth Management LLC purchased a new position in shares of AT&T in the 1st quarter worth about $507,000. 57.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

T has been the subject of a number of research reports. Hsbc Global Res cut AT&T from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 24th. JPMorgan Chase & Co. upped their price objective on AT&T from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Scotiabank upped their price objective on AT&T from $29.50 to $30.00 and gave the stock a “sector outperform” rating in a report on Friday, July 11th. HSBC cut AT&T from a “buy” rating to a “hold” rating and set a $30.00 price objective for the company. in a report on Thursday, July 24th. Finally, Barclays reiterated an “equal weight” rating and issued a $30.00 price objective on shares of AT&T in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $30.74.

AT&T Trading Up 0.2%

NYSE T opened at $27.06 on Friday. AT&T Inc. has a fifty-two week low of $21.05 and a fifty-two week high of $29.79. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81. The stock has a 50 day simple moving average of $28.60 and a two-hundred day simple moving average of $27.91. The stock has a market cap of $193.49 billion, a P/E ratio of 15.38, a price-to-earnings-growth ratio of 3.46 and a beta of 0.42.

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

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be given a $0.2775 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.1%. AT&T’s dividend payout ratio is currently 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.