Forum Financial Management LP Purchases 7,835 Shares of AT&T Inc. $T

Forum Financial Management LP raised its holdings in AT&T Inc. (NYSE:T) by 5.0% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 164,004 shares of the technology company’s stock after acquiring an additional 7,835 shares during the quarter. Forum Financial Management LP’s holdings in AT&T were worth $4,746,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Denali Advisors LLC increased its stake in AT&T by 5.9% in the 2nd quarter. Denali Advisors LLC now owns 401,037 shares of the technology company’s stock valued at $11,606,000 after buying an additional 22,394 shares during the last quarter. CHURCHILL MANAGEMENT Corp increased its stake in AT&T by 1.5% in the 2nd quarter. CHURCHILL MANAGEMENT Corp now owns 324,104 shares of the technology company’s stock valued at $9,380,000 after buying an additional 4,793 shares during the last quarter. Kickstand Ventures LLC. acquired a new stake in AT&T in the 2nd quarter valued at $489,000. Sentry Investment Management LLC increased its stake in AT&T by 153.2% in the 2nd quarter. Sentry Investment Management LLC now owns 22,095 shares of the technology company’s stock valued at $625,000 after buying an additional 13,370 shares during the last quarter. Finally, ASR Vermogensbeheer N.V. increased its stake in AT&T by 1.4% in the 2nd quarter. ASR Vermogensbeheer N.V. now owns 722,568 shares of the technology company’s stock valued at $20,910,000 after buying an additional 9,970 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on T shares. Barclays reiterated an “equal weight” rating and issued a $30.00 price target on shares of AT&T in a research note on Wednesday, October 1st. Wells Fargo & Company dropped their target price on shares of AT&T from $31.00 to $29.00 and set an “overweight” rating on the stock in a report on Thursday, October 16th. Sanford C. Bernstein upped 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. Scotiabank set a $30.25 target price on shares of AT&T and gave the company a “sector perform” rating in a report on Monday, October 6th. Finally, UBS Group set a $33.00 price target on shares of AT&T in a research note on Thursday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.65.

AT&T Stock Performance

Shares of NYSE:T opened at $25.52 on Thursday. The company’s 50 day moving average price is $28.12 and its two-hundred day moving average price is $27.77. AT&T Inc. has a 12-month low of $21.05 and a 12-month high of $29.79. The firm has a market cap of $182.49 billion, a PE ratio of 14.50, a PEG ratio of 2.11 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 (NYSE:T) last announced its earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.54. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The firm had revenue of $30.71 billion for the quarter, compared to analyst estimates of $30.85 billion. During the same quarter in the prior year, the business posted $0.60 EPS. The business’s revenue was up 1.7% compared to the same quarter last year. Equities research analysts predict that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors 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 yield of 4.3%. The ex-dividend date of this dividend is Friday, October 10th. AT&T’s dividend payout ratio (DPR) is 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.