Berkeley Capital Partners LLC Increases Stock Position in AT&T Inc. $T

Berkeley Capital Partners LLC lifted its holdings in shares of AT&T Inc. (NYSE:T) by 227.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,943 shares of the technology company’s stock after acquiring an additional 47,886 shares during the quarter. Berkeley Capital Partners LLC’s holdings in AT&T were worth $1,995,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Avidian Wealth Enterprises LLC lifted its holdings in shares of AT&T by 4.5% during the 2nd quarter. Avidian Wealth Enterprises LLC now owns 68,873 shares of the technology company’s stock valued at $1,993,000 after acquiring an additional 2,967 shares in the last quarter. Bogart Wealth LLC lifted its holdings in shares of AT&T by 1.4% during the 2nd quarter. Bogart Wealth LLC now owns 300,702 shares of the technology company’s stock valued at $8,702,000 after acquiring an additional 4,223 shares in the last quarter. Drive Wealth Management LLC lifted its holdings in shares of AT&T by 60.1% during the 2nd quarter. Drive Wealth Management LLC now owns 44,959 shares of the technology company’s stock valued at $1,301,000 after acquiring an additional 16,871 shares in the last quarter. Canvas Wealth Advisors LLC acquired a new position in shares of AT&T during the 2nd quarter valued at $222,000. Finally, Crewe Advisors LLC lifted its holdings in shares of AT&T by 9.7% during the 2nd quarter. Crewe Advisors LLC now owns 6,287 shares of the technology company’s stock valued at $182,000 after acquiring an additional 557 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Sanford C. Bernstein lifted their target price on shares of AT&T from $31.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, September 4th. Citigroup restated a “buy” rating on shares of AT&T in a report on Tuesday, August 26th. Bank of America started coverage on shares of AT&T in a report on Monday, July 7th. They set a “buy” rating and a $32.00 target price on the stock. Morgan Stanley boosted their price objective on shares of AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a report on Wednesday, July 16th. Finally, Barclays reiterated an “equal weight” rating and issued a $30.00 price objective on shares of AT&T in a report on Wednesday, October 1st. One equities research 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 company. According to data from MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.65.

AT&T Stock Performance

Shares of T stock opened at $26.08 on Tuesday. AT&T Inc. has a 12 month low of $21.05 and a 12 month high of $29.79. 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 firm has a market capitalization of $186.45 billion, a P/E ratio of 14.82, a P/E/G ratio of 2.13 and a beta of 0.42. The company’s fifty day moving average price is $28.23 and its two-hundred day moving average price is $27.80.

AT&T (NYSE:T) last issued its 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 for the quarter, compared to analyst estimates of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.51 EPS. On average, research analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

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 paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Friday, October 10th. AT&T’s dividend 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.