Ashburton Jersey Ltd Buys New Shares in AT&T Inc. (NYSE:T)

Ashburton Jersey Ltd purchased a new position in shares of AT&T Inc. (NYSE:T) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 22,008 shares of the technology company’s stock, valued at approximately $418,000. AT&T comprises approximately 0.2% of Ashburton Jersey Ltd’s investment portfolio, making the stock its 28th largest holding.

A number of other hedge funds and other institutional investors have also recently modified their holdings of T. Davidson Kempner Capital Management LP bought a new stake in AT&T in the second quarter worth $23,888,000. Mackenzie Financial Corp lifted its stake in shares of AT&T by 12.2% in the 2nd quarter. Mackenzie Financial Corp now owns 2,641,856 shares of the technology company’s stock valued at $50,486,000 after acquiring an additional 288,093 shares during the last quarter. DRW Securities LLC boosted its holdings in AT&T by 642.2% during the 2nd quarter. DRW Securities LLC now owns 104,309 shares of the technology company’s stock valued at $1,997,000 after acquiring an additional 90,255 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in AT&T by 4.3% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 1,037,529 shares of the technology company’s stock worth $19,827,000 after acquiring an additional 43,062 shares during the last quarter. Finally, M&G Plc purchased a new position in AT&T in the 1st quarter worth approximately $9,074,000. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Trading Up 0.3 %

NYSE T opened at $22.20 on Thursday. AT&T Inc. has a 12 month low of $14.12 and a 12 month high of $22.34. The stock has a market cap of $159.14 billion, a P/E ratio of 11.93, a P/E/G ratio of 3.75 and a beta of 0.59. The stock’s fifty day moving average price is $20.35 and its 200-day moving average price is $18.60. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.57. The firm had revenue of $29.80 billion for the quarter, compared to the consensus estimate of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The company’s quarterly revenue was down .3% on a year-over-year basis. During the same period in the prior year, the company posted $0.63 earnings per share. As a group, equities analysts forecast that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.00%. The ex-dividend date is Thursday, October 10th. AT&T’s payout ratio is currently 59.68%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Evercore ISI raised their price target on shares of AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a report on Thursday, July 25th. Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a report on Tuesday. Barclays boosted their price target on AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Scotiabank cut AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, BNP Paribas raised AT&T from an “underperform” rating to a “neutral” rating in a research note on Tuesday, June 11th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.38.

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.