AT&T Inc. $T Shares Acquired by OFI Invest Asset Management

OFI Invest Asset Management grew its position in AT&T Inc. (NYSE:T) by 682.6% during the second quarter, Holdings Channel.com reports. The firm owned 585,185 shares of the technology company’s stock after acquiring an additional 510,406 shares during the period. OFI Invest Asset Management’s holdings in AT&T were worth $16,935,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. CHURCHILL MANAGEMENT Corp raised its stake in AT&T by 1.5% during the 2nd quarter. CHURCHILL MANAGEMENT Corp now owns 324,104 shares of the technology company’s stock worth $9,380,000 after acquiring an additional 4,793 shares in the last quarter. Capstone Wealth Management LLC acquired a new stake in AT&T during the 1st quarter worth $201,000. Kickstand Ventures LLC. acquired a new stake in AT&T during the 2nd quarter worth $489,000. ASR Vermogensbeheer N.V. raised its stake in AT&T by 1.4% during the 2nd quarter. ASR Vermogensbeheer N.V. now owns 722,568 shares of the technology company’s stock worth $20,910,000 after acquiring an additional 9,970 shares in the last quarter. Finally, Simplicity Wealth LLC raised its stake in AT&T by 180.5% during the 2nd quarter. Simplicity Wealth LLC now owns 114,091 shares of the technology company’s stock worth $3,302,000 after acquiring an additional 73,417 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Trading Down 1.0%

Shares of AT&T stock opened at $25.85 on Friday. AT&T Inc. has a 1 year low of $21.05 and a 1 year high of $29.79. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. The company’s fifty day simple moving average is $28.45 and its 200-day simple moving average is $27.88. The company has a market cap of $184.82 billion, a price-to-earnings ratio of 14.69, a PEG ratio of 2.10 and a beta of 0.42.

AT&T (NYSE:T) last issued its earnings results 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 company had revenue of $30.85 billion for the quarter, compared to the consensus estimate of $30.44 billion. During the same quarter in the previous year, the company earned $0.51 EPS. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, sell-side analysts expect that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The business 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 dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.3%. 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. Scotiabank set a $30.25 price objective on shares of AT&T and gave the stock a “sector perform” rating in a research report on Monday, October 6th. The Goldman Sachs Group assumed coverage on shares of AT&T in a research note on Tuesday, September 2nd. They issued a “buy” rating and a $32.00 target price for the company. Barclays reissued an “equal weight” rating and set a $30.00 target price on shares of AT&T in a report on Wednesday, October 1st. Bank of America initiated coverage on shares of AT&T in a report on Monday, July 7th. They issued a “buy” rating and a $32.00 price objective on the stock. Finally, Wells Fargo & Company raised their price objective on shares of AT&T from $30.00 to $31.00 and gave the company an “overweight” rating in a research 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 given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $30.75.

AT&T Company 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.