Resonant Capital Advisors LLC Acquires 4,662 Shares of AT&T Inc. (NYSE:T)

Resonant Capital Advisors LLC lifted its holdings in shares of AT&T Inc. (NYSE:T) by 32.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 19,166 shares of the technology company’s stock after acquiring an additional 4,662 shares during the quarter. Resonant Capital Advisors LLC’s holdings in AT&T were worth $422,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV grew its stake in AT&T by 1,379.0% during the second quarter. Mercer Global Advisors Inc. ADV now owns 14,159,133 shares of the technology company’s stock valued at $270,581,000 after acquiring an additional 13,201,774 shares in the last quarter. AQR Capital Management LLC grew its position in shares of AT&T by 43.3% during the 2nd quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock valued at $414,563,000 after purchasing an additional 6,602,586 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of 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 worth $1,549,375,000 after purchasing an additional 5,592,123 shares during the period. Thornburg Investment Management Inc. raised its position in shares of AT&T by 22.0% in the second quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company’s stock worth $477,528,000 after buying an additional 4,511,725 shares in the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new position in AT&T during the second quarter worth about $78,570,000. 57.10% of the stock is owned by institutional investors.

AT&T Stock Performance

NYSE:T opened at $21.85 on Monday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. AT&T Inc. has a fifty-two week low of $14.74 and a fifty-two week high of $22.34. The firm has a market cap of $156.67 billion, a PE ratio of 11.75, a price-to-earnings-growth ratio of 3.63 and a beta of 0.60. The business has a 50 day moving average price of $20.95 and a 200-day moving average price of $18.98.

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, hitting analysts’ consensus estimates of $0.57. The business had revenue of $29.80 billion for the quarter, compared to analyst estimates of $30.05 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The company’s revenue was down .3% on a year-over-year basis. During the same quarter last year, the firm earned $0.63 EPS. Equities research analysts predict that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a yield of 5.08%. The ex-dividend date of this dividend is Thursday, October 10th. AT&T’s payout ratio is 59.68%.

Analyst Ratings Changes

Several analysts have weighed in on the company. Hsbc Global Res raised AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. Citigroup boosted their price target on shares of AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Evercore ISI raised their price objective 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. TD Cowen upped their target price on shares of AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Finally, Redburn Atlantic upgraded AT&T to a “strong sell” rating in a research report on Monday, September 16th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $22.69.

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.