UNIVEST FINANCIAL Corp Increases Holdings in AT&T Inc. (NYSE:T)

UNIVEST FINANCIAL Corp boosted its position in AT&T Inc. (NYSE:T) by 12.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,713 shares of the technology company’s stock after purchasing an additional 1,567 shares during the period. UNIVEST FINANCIAL Corp’s holdings in AT&T were worth $262,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vantage Financial Partners LLC grew its holdings in AT&T by 25.5% during the 4th quarter. Vantage Financial Partners LLC now owns 38,207 shares of the technology company’s stock valued at $641,000 after buying an additional 7,762 shares during the last quarter. Gilbert & Cook Inc. boosted its stake in shares of AT&T by 4.1% during the fourth quarter. Gilbert & Cook Inc. now owns 31,130 shares of the technology company’s stock valued at $522,000 after acquiring an additional 1,212 shares during the last quarter. Aveo Capital Partners LLC increased its position in AT&T by 4.5% during the 4th quarter. Aveo Capital Partners LLC now owns 27,770 shares of the technology company’s stock worth $466,000 after purchasing an additional 1,194 shares in the last quarter. Gryphon Financial Partners LLC grew its holdings in shares of AT&T by 21.8% during the fourth quarter. Gryphon Financial Partners LLC now owns 27,253 shares of the technology company’s stock worth $477,000 after buying an additional 4,870 shares in the last quarter. Finally, Picton Mahoney Asset Management acquired a new position in AT&T in the 4th quarter valued at $204,000. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Stock Performance

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

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The business had revenue of $29.80 billion during the quarter, compared to analyst estimates of $30.05 billion. During the same quarter in the previous year, the firm posted $0.63 EPS. The business’s revenue for the quarter was down .3% compared to the same quarter last year. As a group, analysts anticipate that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were given a $0.2775 dividend. The ex-dividend date was Wednesday, July 10th. This represents a $1.11 annualized dividend and a yield of 5.29%. AT&T’s dividend payout ratio is presently 59.68%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on T. Royal Bank of Canada increased their target price on AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 25th. Barclays lifted their target price on AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. UBS Group reaffirmed a “buy” rating and issued a $24.00 price objective on shares of AT&T in a research note on Tuesday, June 18th. Deutsche Bank Aktiengesellschaft boosted 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. Finally, The Goldman Sachs Group began coverage on shares of AT&T in a report on Monday, July 1st. They issued a “buy” rating and a $22.00 price target on the stock. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $22.06.

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.