GAMMA Investing LLC Increases Stake in AT&T Inc. $T

GAMMA Investing LLC boosted its position in shares of AT&T Inc. (NYSE:T) by 18.5% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 195,788 shares of the technology company’s stock after purchasing an additional 30,530 shares during the period. GAMMA Investing LLC’s holdings in AT&T were worth $5,666,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Capstone Wealth Management LLC purchased a new stake in AT&T during the 1st quarter valued at about $201,000. Wedmont Private Capital boosted its holdings in shares of AT&T by 7.9% during the 1st quarter. Wedmont Private Capital now owns 123,247 shares of the technology company’s stock valued at $3,302,000 after acquiring an additional 9,027 shares during the last quarter. Xponance Inc. boosted its holdings in shares of AT&T by 10.2% during the 1st quarter. Xponance Inc. now owns 1,109,933 shares of the technology company’s stock valued at $31,389,000 after acquiring an additional 102,419 shares during the last quarter. NBT Bank N A NY boosted its holdings in shares of AT&T by 7.5% during the 1st quarter. NBT Bank N A NY now owns 129,428 shares of the technology company’s stock valued at $3,660,000 after acquiring an additional 8,989 shares during the last quarter. Finally, Park Edge Advisors LLC purchased a new stake in shares of AT&T during the 1st quarter valued at about $1,000,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on T. Hsbc Global Res downgraded shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 24th. Bank of America began coverage on shares of AT&T in a report on Monday, July 7th. They set a “buy” rating and a $32.00 price target on the stock. Morgan Stanley raised their price target on shares of AT&T from $31.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday, July 16th. JPMorgan Chase & Co. raised their price target on shares of AT&T from $31.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Finally, Wells Fargo & Company raised their price target on shares of AT&T from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, AT&T currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.74.

AT&T Price Performance

NYSE T opened at $29.04 on Monday. AT&T Inc. has a 12 month low of $21.05 and a 12 month high of $29.79. The stock has a market cap of $207.65 billion, a price-to-earnings ratio of 16.50, a PEG ratio of 3.59 and a beta of 0.44. The company’s 50 day moving average is $28.45 and its two-hundred day moving average is $27.83. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.01. The firm had revenue of $30.85 billion for the quarter, compared to analysts’ expectations of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.51 earnings per share. As a group, research analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were given a dividend of $0.2775 per share. The ex-dividend date was Thursday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 3.8%. AT&T’s dividend payout ratio (DPR) is presently 63.07%.

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.