Point72 Asia Singapore Pte. Ltd. Invests $44,000 in AT&T Inc. (NYSE:T)

Point72 Asia Singapore Pte. Ltd. bought a new position in shares of AT&T Inc. (NYSE:T) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,285 shares of the technology company’s stock, valued at approximately $44,000.

A number of other institutional investors and hedge funds also recently modified their holdings of T. Frank Rimerman Advisors LLC acquired a new position in AT&T in the fourth quarter worth approximately $25,000. Pineridge Advisors LLC acquired a new stake in AT&T in the 4th quarter worth approximately $25,000. Strategic Financial Concepts LLC grew its holdings in AT&T by 227.6% during the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after purchasing an additional 91,578 shares during the last quarter. Riggs Asset Managment Co. Inc. lifted its stake in shares of AT&T by 356.5% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after buying an additional 1,116 shares during the last quarter. Finally, American Capital Advisory LLC grew its stake in AT&T by 107.5% in the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after buying an additional 807 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Tigress Financial raised their price target on AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Friday. Oppenheimer lifted their price target on shares of AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Citigroup lifted their price objective on AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Royal Bank of Canada increased their target price on AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a report on Thursday, July 25th. Finally, Daiwa America raised shares of AT&T to a “hold” rating in a research note on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $22.38.

AT&T Price Performance

Shares of NYSE T opened at $21.99 on Tuesday. AT&T Inc. has a 1 year low of $14.12 and a 1 year high of $22.34. The stock has a market capitalization of $157.64 billion, a P/E ratio of 11.82, a P/E/G ratio of 3.68 and a beta of 0.59. 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’s 50-day moving average is $20.21 and its 200 day moving average is $18.54.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, hitting analysts’ consensus estimates 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 analyst estimates of $30.05 billion. During the same period in the previous year, the business earned $0.63 EPS. The firm’s revenue for the quarter was down .3% on a year-over-year basis. On average, sell-side analysts expect that AT&T Inc. will post 2.2 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 5.05%. The ex-dividend date of this dividend is Thursday, October 10th. AT&T’s payout ratio is 59.68%.

AT&T Company 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.