31,332 Shares in AT&T Inc. $T Purchased by Friedenthal Financial

Friedenthal Financial purchased a new position in AT&T Inc. (NYSE:T) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 31,332 shares of the technology company’s stock, valued at approximately $907,000.

Several other institutional investors also recently added to or reduced their stakes in T. Kingstone Capital Partners Texas LLC bought a new position in AT&T during the 2nd quarter worth about $5,266,758,000. Nuveen LLC bought a new position in AT&T during the 1st quarter worth about $1,072,128,000. GQG Partners LLC grew its holdings in AT&T by 17.7% during the 1st quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock worth $3,222,711,000 after acquiring an additional 17,177,874 shares in the last quarter. Ontario Teachers Pension Plan Board grew its holdings in AT&T by 30,527.5% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company’s stock worth $338,213,000 after acquiring an additional 11,920,392 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in AT&T by 350.4% during the 1st quarter. Wellington Management Group LLP now owns 11,363,940 shares of the technology company’s stock worth $321,372,000 after acquiring an additional 8,841,126 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 1.0%

T stock opened at $26.13 on Wednesday. The firm has a 50 day moving average of $28.54 and a 200 day moving average of $27.91. The stock has a market capitalization of $186.85 billion, a PE ratio of 14.85, a price-to-earnings-growth ratio of 3.31 and a beta of 0.42. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01. AT&T Inc. has a 52 week low of $21.05 and a 52 week high of $29.79.

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

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 4.2%. The ex-dividend date is Friday, October 10th. AT&T’s payout ratio is presently 63.07%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. UBS Group set a $33.00 target price on shares of AT&T in a report on Thursday, September 18th. Barclays restated an “equal weight” rating and issued a $30.00 price target on shares of AT&T in a report on Wednesday, October 1st. Hsbc Global Res cut shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 24th. JPMorgan Chase & Co. raised their price target on shares of AT&T from $31.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Finally, Wells Fargo & Company raised their price target on shares of AT&T from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Thursday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $30.75.

AT&T Profile

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.