Alta Advisers Ltd Acquires 2,100 Shares of AT&T Inc. (NYSE:T)

Alta Advisers Ltd boosted its holdings in shares of AT&T Inc. (NYSE:T) by 10.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,300 shares of the technology company’s stock after purchasing an additional 2,100 shares during the period. Alta Advisers Ltd’s holdings in AT&T were worth $407,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in T. Octavia Wealth Advisors LLC grew its stake in shares of AT&T by 2.1% in the second quarter. Octavia Wealth Advisors LLC now owns 25,313 shares of the technology company’s stock worth $484,000 after acquiring an additional 519 shares during the period. WealthCare Investment Partners LLC lifted its holdings in shares of AT&T by 2.2% in the second quarter. WealthCare Investment Partners LLC now owns 24,138 shares of the technology company’s stock worth $461,000 after buying an additional 525 shares in the last quarter. Integral Investment Advisors Inc. lifted its holdings in shares of AT&T by 3.2% in the second quarter. Integral Investment Advisors Inc. now owns 17,177 shares of the technology company’s stock worth $322,000 after buying an additional 538 shares in the last quarter. Financial Counselors Inc. increased its position in AT&T by 0.6% in the second quarter. Financial Counselors Inc. now owns 92,450 shares of the technology company’s stock worth $1,767,000 after purchasing an additional 539 shares during the last quarter. Finally, Fortitude Family Office LLC increased its position in AT&T by 1.3% during the second quarter. Fortitude Family Office LLC now owns 42,154 shares of the technology company’s stock valued at $806,000 after acquiring an additional 559 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 0.2 %

Shares of T opened at $21.64 on Friday. The firm has a market cap of $155.13 billion, a P/E ratio of 11.63, a price-to-earnings-growth ratio of 3.65 and a beta of 0.59. AT&T Inc. has a 12-month low of $14.12 and a 12-month high of $21.86. The company’s 50-day moving average price is $19.59 and its 200 day moving average price is $18.17. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05.

AT&T (NYSE:T) last issued 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. The firm had revenue of $29.80 billion for the quarter, compared to analyst estimates of $30.05 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. AT&T’s revenue was down .3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.63 EPS. On average, sell-side analysts forecast that AT&T Inc. will post 2.2 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were paid a dividend of $0.2775 per share. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 5.13%. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Scotiabank lowered shares of AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Citigroup lifted their target price on shares of AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday. Oppenheimer lifted their target price on shares of AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, Barclays raised their price target on shares of AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $22.31.

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.