Cowa LLC Grows Position in AT&T Inc. $T

Cowa LLC raised its stake in shares of AT&T Inc. (NYSE:T) by 4.8% during the second quarter, HoldingsChannel reports. The firm owned 53,102 shares of the technology company’s stock after purchasing an additional 2,443 shares during the quarter. Cowa LLC’s holdings in AT&T were worth $1,537,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in T. Vanguard Group Inc. raised its stake in AT&T by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 661,355,210 shares of the technology company’s stock worth $19,139,620,000 after acquiring an additional 10,310,560 shares during the last quarter. Kingstone Capital Partners Texas LLC acquired a new position in shares of AT&T in the second quarter valued at about $5,266,758,000. Geode Capital Management LLC increased its holdings in shares of AT&T by 1.2% in the second quarter. Geode Capital Management LLC now owns 172,039,872 shares of the technology company’s stock valued at $4,958,066,000 after purchasing an additional 2,066,026 shares during the period. GQG Partners LLC raised its stake in shares of AT&T by 17.7% in the first quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock worth $3,222,711,000 after purchasing an additional 17,177,874 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of AT&T by 3.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 55,216,190 shares of the technology company’s stock worth $1,561,514,000 after purchasing an additional 1,783,363 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Price Performance

NYSE:T opened at $25.94 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. AT&T Inc. has a 52 week low of $21.38 and a 52 week high of $29.79. The stock’s 50-day moving average price is $26.37 and its 200-day moving average price is $27.49. The stock has a market capitalization of $183.90 billion, a PE ratio of 8.42, a price-to-earnings-growth ratio of 2.16 and a beta of 0.40.

AT&T (NYSE:T) last issued its quarterly 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 return on equity of 12.72% and a net margin of 17.87%.The company had revenue of $30.71 billion for the quarter, compared to the consensus estimate of $30.85 billion. During the same quarter in the prior year, the business posted $0.60 earnings per share. AT&T’s revenue for the quarter was up 1.7% on a year-over-year basis. As a group, equities analysts expect that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on T. Royal Bank Of Canada cut 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. Weiss Ratings reiterated a “buy (b)” rating on shares of AT&T in a research note on Wednesday, October 8th. Sanford C. Bernstein boosted their target price on shares of AT&T from $31.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, September 4th. Williams Trading set a $33.00 price target on shares of AT&T in a report on Thursday, October 23rd. Finally, Raymond James Financial reissued a “strong-buy” rating and issued a $33.00 price objective (up previously from $31.00) on shares of AT&T in a report on Thursday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus 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.