Resonant Capital Advisors LLC Has $277,000 Position in AT&T Inc. (NYSE:T)

Resonant Capital Advisors LLC increased its holdings in shares of AT&T Inc. (NYSE:T) by 29.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,504 shares of the technology company’s stock after acquiring an additional 3,316 shares during the period. Resonant Capital Advisors LLC’s holdings in AT&T were worth $277,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of AT&T by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 624,994,998 shares of the technology company’s stock valued at $10,999,912,000 after acquiring an additional 2,588,539 shares in the last quarter. Bank of New York Mellon Corp boosted its position in AT&T by 7.4% in the second quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock valued at $1,549,375,000 after buying an additional 5,592,123 shares in the last quarter. Norges Bank acquired a new position in AT&T in the fourth quarter valued at about $1,118,288,000. Dimensional Fund Advisors LP boosted its position in AT&T by 2.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 47,377,267 shares of the technology company’s stock valued at $794,978,000 after buying an additional 1,137,792 shares in the last quarter. Finally, LSV Asset Management boosted its position in AT&T by 1.1% in the first quarter. LSV Asset Management now owns 29,777,030 shares of the technology company’s stock valued at $524,076,000 after buying an additional 333,787 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Trading Up 2.8 %

T opened at $20.45 on Wednesday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. The company has a market cap of $146.63 billion, a price-to-earnings ratio of 10.99, a price-to-earnings-growth ratio of 3.36 and a beta of 0.59. The firm has a 50 day simple moving average of $19.20 and a 200 day simple moving average of $17.94. AT&T Inc. has a fifty-two week low of $14.12 and a fifty-two week high of $20.45.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.57. The business had revenue of $29.80 billion during the quarter, compared to the consensus estimate of $30.05 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. AT&T’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.63 earnings per share. On average, sell-side analysts anticipate that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 5.43%. The ex-dividend date was Wednesday, July 10th. AT&T’s payout ratio is presently 59.68%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. BNP Paribas upgraded shares of AT&T from an “underperform” rating to a “neutral” rating in a research report on Tuesday, June 11th. Evercore ISI boosted their price target on shares of AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft upped their target price on shares of AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Finally, The Goldman Sachs Group began coverage on shares of AT&T in a research report on Monday, July 1st. They set a “buy” rating and a $22.00 target price on the stock. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $22.06.

AT&T Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.