Diversified LLC Raises Position in AT&T Inc. (NYSE:T)

Diversified LLC grew its stake in AT&T Inc. (NYSE:T) by 43.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,314 shares of the technology company’s stock after purchasing an additional 6,809 shares during the period. Diversified LLC’s holdings in AT&T were worth $426,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Pineridge Advisors LLC bought a new position in AT&T in the 4th quarter valued at $25,000. Frank Rimerman Advisors LLC purchased a new position in AT&T in the 4th quarter worth about $25,000. First Pacific Financial lifted its holdings in AT&T by 166.7% during the 1st quarter. First Pacific Financial now owns 1,600 shares of the technology company’s stock valued at $28,000 after buying an additional 1,000 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its position in AT&T by 176.6% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock valued at $35,000 after buying an additional 1,192 shares during the period. Finally, HighMark Wealth Management LLC grew its stake in AT&T by 58.2% in the 1st quarter. HighMark Wealth Management LLC now owns 2,204 shares of the technology company’s stock worth $41,000 after acquiring an additional 811 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

Shares of NYSE:T traded up $0.20 during midday trading on Friday, reaching $19.72. 21,508,478 shares of the company’s stock traded hands, compared to its average volume of 35,880,934. 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 company has a market cap of $141.36 billion, a P/E ratio of 10.60, a PEG ratio of 3.26 and a beta of 0.58. AT&T Inc. has a 1 year low of $14.04 and a 1 year high of $19.99. The company has a fifty day simple moving average of $18.96 and a two-hundred day simple moving average of $17.79.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The company had revenue of $29.80 billion during the quarter, compared to analysts’ expectations of $30.05 billion. During the same quarter in the prior year, the company earned $0.63 EPS. AT&T’s revenue was down .3% compared to the same quarter last year. Equities analysts predict that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were issued a $0.2775 dividend. The ex-dividend date was Wednesday, July 10th. This represents a $1.11 annualized dividend and a yield of 5.63%. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

Wall Street Analyst Weigh In

T has been the topic of several recent research reports. Daiwa America upgraded shares of AT&T to a “hold” rating in a report on Friday, July 26th. Deutsche Bank Aktiengesellschaft upped their target price on AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, June 28th. StockNews.com downgraded AT&T from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. TD Cowen upped their price objective on AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Finally, Royal Bank of Canada lifted their target price on AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a research note on Thursday, July 25th. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $22.06.

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.