26,807 Shares in AT&T Inc. (NYSE:T) Purchased by Founders Financial Securities LLC

Founders Financial Securities LLC purchased a new position in shares of AT&T Inc. (NYSE:T) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 26,807 shares of the technology company’s stock, valued at approximately $512,000.

Several other large investors also recently bought and sold shares of the business. Norges Bank purchased a new position in AT&T in the 4th quarter worth approximately $1,118,288,000. Thornburg Investment Management Inc. purchased a new position in AT&T in the 4th quarter worth approximately $316,472,000. Kodai Capital Management LP purchased a new position in AT&T in the 4th quarter worth approximately $152,109,000. Bank of New York Mellon Corp lifted its stake in AT&T by 7.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock worth $1,549,375,000 after purchasing an additional 5,592,123 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its holdings in shares of AT&T by 120.8% during the 4th quarter. Point72 Asset Management L.P. now owns 9,086,854 shares of the technology company’s stock worth $152,477,000 after buying an additional 4,970,954 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on T. Daiwa America upgraded shares of AT&T to a “hold” rating in a report on Friday, July 26th. Royal Bank of Canada raised their price target on shares of AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. raised their price target on shares of AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Moffett Nathanson raised their price target on shares of AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Finally, Oppenheimer raised their price target on shares of AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $22.06.

AT&T Stock Performance

Shares of T stock opened at $20.66 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. AT&T Inc. has a 52 week low of $14.12 and a 52 week high of $20.87. The stock has a market capitalization of $148.10 billion, a PE ratio of 11.10, a P/E/G ratio of 3.36 and a beta of 0.59. The firm has a 50 day moving average of $19.27 and a two-hundred day moving average of $17.97.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, meeting the consensus estimate of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The company had revenue of $29.80 billion during the quarter, compared to analysts’ expectations of $30.05 billion. During the same quarter last year, the company posted $0.63 EPS. The firm’s revenue was down .3% compared to the same quarter last year. On average, research analysts predict that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were given a $0.2775 dividend. The ex-dividend date was Wednesday, July 10th. This represents a $1.11 annualized dividend and a yield of 5.37%. AT&T’s dividend payout ratio is presently 59.68%.

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.