Waratah Capital Advisors Ltd. Acquires 206,317 Shares of AT&T Inc. $T

Waratah Capital Advisors Ltd. grew its holdings in AT&T Inc. (NYSE:T) by 52.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 602,277 shares of the technology company’s stock after purchasing an additional 206,317 shares during the period. Waratah Capital Advisors Ltd.’s holdings in AT&T were worth $17,430,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of T. Financial Gravity Companies Inc. purchased a new stake in shares of AT&T during the second quarter worth $282,000. Tortoise Investment Management LLC raised its stake in shares of AT&T by 6.7% during the 2nd quarter. Tortoise Investment Management LLC now owns 9,302 shares of the technology company’s stock valued at $269,000 after purchasing an additional 588 shares during the period. MTM Investment Management LLC purchased a new stake in AT&T during the 2nd quarter worth about $92,000. Firestone Capital Management boosted its stake in AT&T by 66.7% in the 2nd quarter. Firestone Capital Management now owns 25,530 shares of the technology company’s stock worth $739,000 after purchasing an additional 10,218 shares during the period. Finally, Kingsview Wealth Management LLC grew its holdings in AT&T by 4.4% during the 2nd quarter. Kingsview Wealth Management LLC now owns 271,419 shares of the technology company’s stock valued at $7,855,000 after buying an additional 11,364 shares in the last quarter. 57.10% of the stock is owned by institutional investors.

AT&T Trading Down 0.7%

NYSE T opened at $25.58 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 1.01. The stock’s 50-day simple moving average is $26.75 and its two-hundred day simple moving average is $27.56. AT&T Inc. has a twelve month low of $21.38 and a twelve month high of $29.79. The company has a market capitalization of $181.31 billion, a price-to-earnings ratio of 8.30, a PEG ratio of 2.16 and a beta of 0.40.

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. The firm had revenue of $30.71 billion during the quarter, compared to analysts’ expectations of $30.85 billion. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.60 EPS. Research analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Friday, October 10th were issued a dividend of $0.2775 per share. The ex-dividend date of this dividend was Friday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.3%. AT&T’s dividend payout ratio (DPR) is currently 36.04%.

Analysts Set New Price Targets

T has been the subject of a number of analyst reports. Wells Fargo & Company cut their price objective on shares of AT&T from $31.00 to $29.00 and set an “overweight” rating for the company in a research report on Thursday, October 16th. UBS Group reiterated a “buy” rating on shares of AT&T in a research note on Thursday, October 23rd. Royal Bank Of Canada reduced their price target on shares of AT&T from $31.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday, October 23rd. The Goldman Sachs Group started coverage on AT&T in a research report on Tuesday, September 2nd. They issued a “buy” rating and a $32.00 price objective on the stock. Finally, Barclays reduced their target price on AT&T from $30.00 to $28.00 and set an “equal weight” rating for the company in a research report on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, AT&T has an average rating of “Moderate Buy” and a consensus target price of $30.64.

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.