PVG Asset Management Corp bought a new position in AT&T Inc. (NYSE:T – Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 11,103 shares of the technology company’s stock, valued at approximately $212,000.
Several other hedge funds have also recently made changes to their positions in T. 3Chopt Investment Partners LLC lifted its stake in shares of AT&T by 63.4% during the 2nd quarter. 3Chopt Investment Partners LLC now owns 41,302 shares of the technology company’s stock valued at $789,000 after buying an additional 16,030 shares in the last quarter. LHM Inc. raised its holdings in AT&T by 36.0% during the 2nd quarter. LHM Inc. now owns 327,261 shares of the technology company’s stock valued at $6,254,000 after acquiring an additional 86,590 shares during the period. SPC Financial Inc. lifted its position in shares of AT&T by 5.3% during the second quarter. SPC Financial Inc. now owns 22,546 shares of the technology company’s stock worth $431,000 after acquiring an additional 1,131 shares in the last quarter. Granite Bay Wealth Management LLC bought a new position in shares of AT&T in the second quarter worth $1,489,000. Finally, Advisory Alpha LLC grew its position in shares of AT&T by 8.2% in the second quarter. Advisory Alpha LLC now owns 79,898 shares of the technology company’s stock valued at $1,527,000 after purchasing an additional 6,085 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.
AT&T Stock Performance
AT&T stock opened at $21.99 on Tuesday. The firm has a fifty day simple moving average of $20.21 and a two-hundred day simple moving average of $18.54. AT&T Inc. has a twelve month low of $14.12 and a twelve month high of $22.34. The company has a market capitalization of $157.64 billion, a PE ratio of 11.82, a P/E/G ratio of 3.68 and a beta of 0.59. 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 Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 5.05%. The ex-dividend date of this dividend is Thursday, October 10th. AT&T’s payout ratio is 59.68%.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on T. Tigress Financial increased their price objective on AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Friday. Oppenheimer boosted their price objective on shares of AT&T from $21.00 to $23.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. UBS Group reiterated a “buy” rating and issued a $24.00 target price on shares of AT&T in a research note on Tuesday, June 18th. BNP Paribas upgraded shares of AT&T from an “underperform” rating to a “neutral” rating in a research report on Tuesday, June 11th. Finally, TD Cowen increased their price objective on AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $22.38.
Read Our Latest Stock Analysis on AT&T
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.
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