Wellington Shields Capital Management LLC Has $776,000 Holdings in AT&T Inc. (NYSE:T)

Wellington Shields Capital Management LLC increased its holdings in AT&T Inc. (NYSE:T) by 6.3% in the second quarter, HoldingsChannel reports. The firm owned 40,608 shares of the technology company’s stock after purchasing an additional 2,416 shares during the period. Wellington Shields Capital Management LLC’s holdings in AT&T were worth $776,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of T. Norges Bank acquired a new position in AT&T in the 4th quarter valued at $1,118,288,000. Thornburg Investment Management Inc. acquired a new position in shares of AT&T during the 4th quarter worth about $316,472,000. Kodai Capital Management LP bought a new stake in AT&T during the 4th quarter valued at approximately $152,109,000. Bank of New York Mellon Corp grew its holdings in AT&T by 7.4% in the 2nd 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 during the last quarter. Finally, Point72 Asset Management L.P. increased its position in AT&T by 120.8% in the 4th quarter. Point72 Asset Management L.P. now owns 9,086,854 shares of the technology company’s stock worth $152,477,000 after buying an additional 4,970,954 shares during the period. 57.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on T shares. Daiwa America upgraded shares of AT&T to a “hold” rating in a research note on Friday, July 26th. Royal Bank of Canada raised their price target on shares of AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. upped their price objective on shares of AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Oppenheimer lifted their target price on AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, Evercore ISI upped their price target on AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a report on Thursday, July 25th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $22.06.

AT&T Price Performance

Shares of T traded up $0.19 during trading hours on Friday, hitting $20.84. The stock had a trading volume of 3,419,183 shares, compared to its average volume of 35,559,523. AT&T Inc. has a 52 week low of $14.12 and a 52 week high of $20.87. The stock has a market capitalization of $149.43 billion, a price-to-earnings ratio of 11.10, a P/E/G ratio of 3.36 and a beta of 0.59. The company’s fifty day moving average is $19.27 and its two-hundred day moving average is $17.97. 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 issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share 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 for the quarter, compared to analysts’ expectations of $30.05 billion. During the same period in the prior year, the firm earned $0.63 earnings per share. The company’s quarterly revenue was down .3% compared to the same quarter last year. On average, analysts anticipate that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were given a $0.2775 dividend. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $1.11 annualized dividend and a yield of 5.33%. AT&T’s payout ratio is 59.68%.

AT&T 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.