Ellis Investment Partners LLC Buys 659 Shares of AT&T Inc. $T

Ellis Investment Partners LLC lifted its stake in shares of AT&T Inc. (NYSE:T) by 8.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,350 shares of the technology company’s stock after purchasing an additional 659 shares during the quarter. Ellis Investment Partners LLC’s holdings in AT&T were worth $242,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Retirement Planning Group LLC NY grew its holdings in shares of AT&T by 3.9% during the 2nd quarter. Retirement Planning Group LLC NY now owns 26,129 shares of the technology company’s stock valued at $756,000 after purchasing an additional 980 shares during the last quarter. GW Henssler & Associates Ltd. bought a new stake in shares of AT&T during the 2nd quarter valued at approximately $302,000. SPC Financial Inc. grew its holdings in shares of AT&T by 4.1% during the 2nd quarter. SPC Financial Inc. now owns 96,987 shares of the technology company’s stock valued at $2,807,000 after purchasing an additional 3,811 shares during the last quarter. OFI Invest Asset Management grew its holdings in shares of AT&T by 682.6% during the 2nd quarter. OFI Invest Asset Management now owns 585,185 shares of the technology company’s stock valued at $16,935,000 after purchasing an additional 510,406 shares during the last quarter. Finally, Means Investment CO. Inc. grew its holdings in shares of AT&T by 68.6% during the 2nd quarter. Means Investment CO. Inc. now owns 21,073 shares of the technology company’s stock valued at $610,000 after purchasing an additional 8,575 shares during the last quarter. 57.10% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on T shares. 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. Hsbc Global Res lowered shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 24th. HSBC lowered shares of AT&T from a “buy” rating to a “hold” rating and set a $30.00 target price on the stock. in a report on Thursday, July 24th. The Goldman Sachs Group started coverage on shares of AT&T in a report on Tuesday, September 2nd. They set a “buy” rating and a $32.00 target price on the stock. Finally, UBS Group set a $33.00 target price on shares of AT&T in a report on Thursday, September 18th. One equities research 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. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $30.75.

AT&T Trading Down 1.2%

NYSE:T opened at $25.57 on Tuesday. 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 stock has a market capitalization of $182.80 billion, a price-to-earnings ratio of 14.53, a PEG ratio of 2.10 and a beta of 0.42. The firm has a fifty day simple moving average of $28.41 and a two-hundred day simple moving average of $27.86. AT&T Inc. has a 12 month low of $21.05 and a 12 month high of $29.79.

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 net margin of 10.29% and a return on equity of 13.36%. The firm had revenue of $30.85 billion for the quarter, compared to the consensus estimate of $30.44 billion. During the same quarter in the prior year, the company posted $0.51 earnings per share. The business’s revenue was up 3.4% on a year-over-year basis. Analysts expect that AT&T Inc. will post 2.14 EPS for the current fiscal 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 issued a dividend of $0.2775 per share. The ex-dividend date is Friday, October 10th. This represents a $1.11 annualized dividend and a yield of 4.3%. AT&T’s dividend payout ratio is presently 63.07%.

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.