Citizens Financial Group Inc. RI Raises Stake in AT&T Inc. $T

Citizens Financial Group Inc. RI increased its holdings in shares of AT&T Inc. (NYSE:T) by 4.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 389,157 shares of the technology company’s stock after acquiring an additional 17,130 shares during the period. Citizens Financial Group Inc. RI’s holdings in AT&T were worth $11,262,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Roberts Glore & Co. Inc. IL boosted its position in shares of AT&T by 2.0% in the 2nd quarter. Roberts Glore & Co. Inc. IL now owns 18,386 shares of the technology company’s stock worth $532,000 after purchasing an additional 357 shares in the last quarter. Investment Partners LTD. increased its position in AT&T by 3.5% during the 2nd quarter. Investment Partners LTD. now owns 10,464 shares of the technology company’s stock valued at $303,000 after buying an additional 357 shares in the last quarter. Parcion Private Wealth LLC raised its stake in AT&T by 2.5% during the second quarter. Parcion Private Wealth LLC now owns 14,910 shares of the technology company’s stock valued at $431,000 after buying an additional 364 shares during the last quarter. Texas Bank & Trust Co boosted its holdings in AT&T by 0.6% in the second quarter. Texas Bank & Trust Co now owns 64,274 shares of the technology company’s stock worth $1,860,000 after acquiring an additional 364 shares in the last quarter. Finally, David J Yvars Group boosted its holdings in AT&T by 2.8% in the second quarter. David J Yvars Group now owns 13,884 shares of the technology company’s stock worth $402,000 after acquiring an additional 372 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Trading Down 0.7%

T stock opened at $25.58 on Friday. The firm has a fifty day moving average price of $26.75 and a 200 day moving average price of $27.56. AT&T Inc. has a fifty-two week low of $21.38 and a fifty-two week high of $29.79. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.96 and a current ratio of 1.01. The firm has a market cap of $181.31 billion, a PE ratio of 8.30, a price-to-earnings-growth ratio of 2.16 and a beta of 0.40.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 EPS for the quarter, hitting the consensus estimate of $0.54. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The company had revenue of $30.71 billion during the quarter, compared to analyst estimates of $30.85 billion. The firm’s revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the business posted $0.60 earnings per share. Sell-side analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Shareholders 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 dividend on an annualized basis and a yield of 4.3%. AT&T’s payout ratio is 36.04%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on T. The Goldman Sachs Group assumed coverage on shares of AT&T in a research note on Tuesday, September 2nd. They set a “buy” rating and a $32.00 price objective for the company. KeyCorp upgraded AT&T from a “sector weight” rating to an “overweight” rating and set a $30.00 price objective for the company in a research report on Tuesday. Wells Fargo & Company dropped their target price on AT&T from $31.00 to $29.00 and set an “overweight” rating on the stock in a research report on Thursday, October 16th. HSBC downgraded shares of AT&T from a “buy” rating to a “hold” rating and set a $30.00 price objective for the company. in a research report on Thursday, July 24th. Finally, Williams Trading set a $33.00 target price on shares of AT&T in a report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $30.64.

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.