Quadrant Capital Group LLC Grows Holdings in AT&T Inc. $T

Quadrant Capital Group LLC boosted its holdings in shares of AT&T Inc. (NYSE:T) by 9.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 172,991 shares of the technology company’s stock after purchasing an additional 14,645 shares during the period. Quadrant Capital Group LLC’s holdings in AT&T were worth $5,006,000 as of its most recent filing with the SEC.

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

AT&T Stock Down 0.0%

Shares of NYSE T opened at $25.86 on Thursday. The firm’s 50-day moving average is $26.15 and its two-hundred day moving average is $27.44. The company has a market capitalization of $183.30 billion, a PE ratio of 8.39, a price-to-earnings-growth ratio of 2.16 and a beta of 0.40. AT&T Inc. has a 12-month low of $21.38 and a 12-month high of $29.79. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.01 and a quick ratio of 0.96.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share 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 the consensus estimate of $30.85 billion. During the same quarter last year, the business posted $0.60 earnings per share. AT&T’s revenue was up 1.7% compared to the same quarter last year. Equities analysts anticipate that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Friday, October 10th were issued 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 dividend yield of 4.3%. AT&T’s payout ratio is 36.04%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Raymond James Financial reaffirmed 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. KeyCorp upgraded AT&T from a “sector weight” rating to an “overweight” rating and set a $30.00 price target on the stock in a research note on Tuesday, November 11th. Cowen reissued a “hold” rating on shares of AT&T in a report on Thursday, October 23rd. Barclays lowered their price target on shares of AT&T from $30.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 23rd. Finally, TD Cowen upped their target price on shares of AT&T from $32.00 to $33.00 and gave the stock a “hold” rating in a research report on Thursday, October 23rd. One investment 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 stock. According to data from MarketBeat, AT&T currently has a consensus rating of “Moderate Buy” and an average price target 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.