Strategic Advisors LLC increased its position in AT&T Inc. (NYSE:T) by 0.3% in the 2nd quarter, Holdings Channel reports. The firm owned 215,233 shares of the technology company’s stock after buying an additional 594 shares during the quarter. AT&T comprises approximately 2.7% of Strategic Advisors LLC’s investment portfolio, making the stock its 6th biggest position. Strategic Advisors LLC’s holdings in AT&T were worth $7,212,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently modified their holdings of the company. Interactive Financial Advisors increased its stake in shares of AT&T by 16.7% in the second quarter. Interactive Financial Advisors now owns 2,100 shares of the technology company’s stock valued at $70,000 after buying an additional 300 shares in the last quarter. Lenox Wealth Management Inc. increased its stake in shares of AT&T by 6.0% in the second quarter. Lenox Wealth Management Inc. now owns 5,409 shares of the technology company’s stock valued at $181,000 after buying an additional 308 shares in the last quarter. TCI Wealth Advisors Inc. increased its stake in shares of AT&T by 0.5% in the fourth quarter. TCI Wealth Advisors Inc. now owns 62,943 shares of the technology company’s stock valued at $1,796,000 after buying an additional 330 shares in the last quarter. Centaurus Financial Inc. increased its stake in shares of AT&T by 24.4% in the first quarter. Centaurus Financial Inc. now owns 1,700 shares of the technology company’s stock valued at $54,000 after buying an additional 333 shares in the last quarter. Finally, Contravisory Investment Management Inc. increased its stake in shares of AT&T by 36.0% in the second quarter. Contravisory Investment Management Inc. now owns 1,277 shares of the technology company’s stock valued at $43,000 after buying an additional 338 shares in the last quarter. 52.93% of the stock is owned by hedge funds and other institutional investors.
T stock traded down $0.52 during midday trading on Monday, reaching $33.65. The stock had a trading volume of 9,986,558 shares, compared to its average volume of 31,755,744. The business’s fifty day moving average price is $33.30. The company has a current ratio of 0.71, a quick ratio of 0.72 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $249.38 billion, a price-to-earnings ratio of 9.56, a price-to-earnings-growth ratio of 2.14 and a beta of 0.62. AT&T Inc. has a twelve month low of $26.80 and a twelve month high of $34.64.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were given a $0.51 dividend. The ex-dividend date was Tuesday, July 9th. This represents a $2.04 dividend on an annualized basis and a yield of 6.06%. AT&T’s payout ratio is 57.95%.
In related news, CEO John T. Stankey sold 4,024 shares of AT&T stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $34.15, for a total value of $137,419.60. Following the completion of the sale, the chief executive officer now directly owns 2,366 shares in the company, valued at $80,798.90. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.07% of the stock is owned by company insiders.
A number of analysts have recently weighed in on the company. Raymond James raised their target price on AT&T from $34.00 to $35.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Cowen raised their target price on AT&T from $34.00 to $40.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Morgan Stanley restated a “buy” rating and issued a $37.00 target price on shares of AT&T in a research note on Thursday. Credit Suisse Group upgraded AT&T from an “underperform” rating to a “neutral” rating and set a $29.00 target price for the company in a research note on Thursday, July 25th. Finally, ValuEngine lowered AT&T from a “hold” rating to a “sell” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $36.78.
AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.
Read More: What is Cost of Capital?
Want to see what other hedge funds are holding T? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AT&T Inc. (NYSE:T).
Receive News & Ratings for AT&T Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AT&T and related companies with MarketBeat.com's FREE daily email newsletter.