AT&T Inc. (NYSE:T) Stake Boosted by Addison Advisors LLC

Addison Advisors LLC grew its stake in shares of AT&T Inc. (NYSE:T) by 16.8% during the 2nd quarter, HoldingsChannel reports. The fund owned 8,002 shares of the technology company’s stock after acquiring an additional 1,152 shares during the period. Addison Advisors LLC’s holdings in AT&T were worth $153,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Wellington Shields Capital Management LLC boosted its holdings in AT&T by 6.3% in the second quarter. Wellington Shields Capital Management LLC now owns 40,608 shares of the technology company’s stock worth $776,000 after purchasing an additional 2,416 shares in the last quarter. Hourglass Capital LLC boosted its holdings in AT&T by 0.6% in the second quarter. Hourglass Capital LLC now owns 182,780 shares of the technology company’s stock worth $3,493,000 after purchasing an additional 1,100 shares in the last quarter. Arizona State Retirement System boosted its holdings in AT&T by 1.1% in the second quarter. Arizona State Retirement System now owns 2,073,637 shares of the technology company’s stock worth $39,627,000 after purchasing an additional 21,822 shares in the last quarter. VELA Investment Management LLC bought a new stake in AT&T in the second quarter worth $2,113,000. Finally, Columbia Asset Management boosted its holdings in AT&T by 6.2% in the second quarter. Columbia Asset Management now owns 130,430 shares of the technology company’s stock worth $2,493,000 after purchasing an additional 7,580 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

AT&T Stock Up 1.6 %

Shares of T opened at $20.99 on Friday. AT&T Inc. has a 52 week low of $14.12 and a 52 week high of $21.00. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. The firm has a market capitalization of $150.47 billion, a P/E ratio of 11.28, a P/E/G ratio of 3.36 and a beta of 0.59. The company has a 50-day simple moving average of $19.31 and a 200-day simple moving average of $18.00.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The firm had revenue of $29.80 billion during the quarter, compared to analyst estimates of $30.05 billion. During the same quarter in the prior year, the business posted $0.63 earnings per share. The company’s quarterly revenue was down .3% compared to the same quarter last year. On average, equities research analysts expect 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 was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were given a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 5.29%. The ex-dividend date was Wednesday, July 10th. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. The Goldman Sachs Group assumed coverage on shares of AT&T in a report on Monday, July 1st. They set a “buy” rating and a $22.00 price target for the company. Daiwa America upgraded shares of AT&T to a “hold” rating in a report on Friday, July 26th. Barclays upped their price target on shares of AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. UBS Group restated a “buy” rating and set a $24.00 price target on shares of AT&T in a report on Tuesday, June 18th. Finally, BNP Paribas upgraded shares of AT&T from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 11th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and an average price target of $22.06.

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.