Impax Asset Management Group plc Invests $1.03 Million in AT&T Inc. $T

Impax Asset Management Group plc acquired a new stake in AT&T Inc. (NYSE:T) during the 2nd quarter, HoldingsChannel reports. The firm acquired 35,712 shares of the technology company’s stock, valued at approximately $1,034,000.

A number of other large investors have also bought and sold shares of T. Stone House Investment Management LLC purchased a new stake in AT&T in the 1st quarter worth about $25,000. O Brien Wealth Partners LLC bought a new stake in AT&T during the 2nd quarter valued at $26,000. Kennebec Savings Bank lifted its position in shares of AT&T by 412.1% during the second quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock worth $28,000 after acquiring an additional 783 shares in the last quarter. Solstein Capital LLC boosted its holdings in shares of AT&T by 217.3% in the second quarter. Solstein Capital LLC now owns 952 shares of the technology company’s stock worth $28,000 after acquiring an additional 652 shares during the period. Finally, IMA Advisory Services Inc. purchased a new position in shares of AT&T in the first quarter valued at $29,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on T. Sanford C. Bernstein raised their target price on AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, September 4th. Citigroup reaffirmed a “buy” rating on shares of AT&T in a research note on Tuesday, August 26th. Wells Fargo & Company lowered their target price on shares of AT&T from $31.00 to $29.00 and set an “overweight” rating on the stock in a research note on Thursday, October 16th. Raymond James Financial reissued a “strong-buy” rating and issued a $33.00 price target (up from $31.00) on shares of AT&T in a report on Thursday, September 18th. Finally, Royal Bank Of Canada decreased their price target on shares of AT&T from $31.00 to $30.00 and set an “outperform” rating on the stock in a report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and eight 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 target price of $30.64.

AT&T Price Performance

T stock opened at $25.58 on Friday. The firm has a 50 day simple moving average of $26.75 and a two-hundred day simple moving average of $27.56. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.01 and a quick ratio of 0.96. The stock has a market cap of $181.31 billion, a PE ratio of 8.30, a P/E/G ratio of 2.16 and a beta of 0.40. AT&T Inc. has a one year low of $21.38 and a one year high of $29.79.

AT&T (NYSE:T) last posted its quarterly earnings data 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 17.87% and a return on equity of 12.72%. The company had revenue of $30.71 billion during the quarter, compared to the consensus estimate of $30.85 billion. During the same period in the previous year, the firm posted $0.60 EPS. The firm’s revenue was up 1.7% compared to the same quarter last year. On average, analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Friday, October 10th were given a dividend of $0.2775 per share. The ex-dividend date was Friday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.3%. AT&T’s dividend payout ratio is 36.04%.

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.