Scientech Research LLC Makes New $219,000 Investment in AT&T Inc. (NYSE:T)

Scientech Research LLC acquired a new stake in shares of AT&T Inc. (NYSE:T) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 11,481 shares of the technology company’s stock, valued at approximately $219,000.

A number of other institutional investors and hedge funds have also made changes to their positions in T. Mercer Global Advisors Inc. ADV lifted its holdings in shares of AT&T by 1,379.0% during the 2nd 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 boosted its position in shares of AT&T by 43.3% in the second quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock worth $414,563,000 after buying an additional 6,602,586 shares during the period. Bank of New York Mellon Corp grew its stake 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 valued at $1,549,375,000 after buying an additional 5,592,123 shares in the last quarter. Point72 Asset Management L.P. raised 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 valued at $152,477,000 after buying an additional 4,970,954 shares during the period. Finally, Thornburg Investment Management Inc. lifted its position in AT&T by 22.0% during the 2nd quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company’s stock worth $477,528,000 after acquiring an additional 4,511,725 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

T has been the subject of several recent research reports. Evercore ISI increased 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. JPMorgan Chase & Co. lifted their price target on shares of AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. UBS Group reiterated a “buy” rating and issued a $24.00 price objective on shares of AT&T in a report on Tuesday, June 18th. Citigroup lifted their target price on AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Finally, Daiwa America upgraded AT&T to a “hold” rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, AT&T presently has an average rating of “Hold” and a consensus price target of $22.38.

AT&T Stock Up 0.4 %

T stock opened at $21.99 on Tuesday. The firm has a market cap of $157.64 billion, a price-to-earnings ratio of 11.82, a PEG ratio of 3.68 and a beta of 0.59. AT&T Inc. has a 1-year low of $14.12 and a 1-year high of $22.34. The firm has a fifty day moving average price of $20.21 and a two-hundred day moving average price of $18.54. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66.

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, meeting analysts’ consensus estimates of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The business had revenue of $29.80 billion during the quarter, compared to the consensus estimate of $30.05 billion. During the same quarter in the prior year, the firm earned $0.63 EPS. The company’s revenue for the quarter was down .3% compared to the same quarter last year. Research analysts predict that AT&T Inc. will post 2.2 EPS for the current year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 5.05%. The ex-dividend date is Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is 59.68%.

About AT&T

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.