Tabor Asset Management LP Makes New $3.45 Million Investment in AT&T Inc. $T

Tabor Asset Management LP acquired a new stake in shares of AT&T Inc. (NYSE:T) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 119,167 shares of the technology company’s stock, valued at approximately $3,449,000. AT&T comprises approximately 2.4% of Tabor Asset Management LP’s portfolio, making the stock its 20th largest position.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in T. Parcion Private Wealth LLC boosted its position in shares of 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 purchasing an additional 364 shares in the last quarter. Texas Bank & Trust Co lifted its position in AT&T by 0.6% during the second quarter. Texas Bank & Trust Co now owns 64,274 shares of the technology company’s stock valued at $1,860,000 after buying an additional 364 shares during the period. David J Yvars Group lifted its position in AT&T by 2.8% during the second quarter. David J Yvars Group now owns 13,884 shares of the technology company’s stock valued at $402,000 after buying an additional 372 shares during the period. AllSquare Wealth Management LLC boosted its holdings in shares of AT&T by 7.1% during the 1st quarter. AllSquare Wealth Management LLC now owns 5,704 shares of the technology company’s stock valued at $161,000 after buying an additional 378 shares in the last quarter. Finally, Barnes Wealth Management Group Inc grew its position in shares of AT&T by 2.6% in the 1st quarter. Barnes Wealth Management Group Inc now owns 15,027 shares of the technology company’s stock worth $425,000 after buying an additional 380 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on T. Scotiabank set a $30.25 price target on shares of AT&T and gave the company a “sector perform” rating in a research report on Monday, October 6th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $33.00 target price (up previously from $31.00) on shares of AT&T in a research note on Thursday, September 18th. The Goldman Sachs Group assumed coverage on shares of AT&T in a report on Tuesday, September 2nd. They set a “buy” rating and a $32.00 target price for the company. Barclays cut their price target on 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, Hsbc Global Res cut AT&T from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $30.67.

AT&T Stock Performance

Shares of T stock opened at $24.81 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 company has a 50 day moving average price of $27.14 and a 200-day moving average price of $27.62. AT&T Inc. has a 52 week low of $21.38 and a 52 week high of $29.79. The firm has a market capitalization of $175.85 billion, a PE ratio of 8.05, a P/E/G ratio of 2.16 and a beta of 0.40.

AT&T (NYSE:T) last issued its earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.54. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The company had revenue of $30.71 billion for the quarter, compared to analysts’ expectations of $30.85 billion. During the same quarter last year, the company posted $0.60 earnings per share. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. As a group, equities research analysts expect that AT&T Inc. will post 2.14 earnings per share for the current 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 paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date was Friday, October 10th. AT&T’s dividend payout ratio (DPR) is 36.04%.

AT&T 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.