Oppenheimer Asset Management Inc. Has $31.33 Million Stake in AT&T Inc. (NYSE:T)

Oppenheimer Asset Management Inc. increased its position in shares of AT&T Inc. (NYSE:T) by 13.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,639,418 shares of the technology company’s stock after buying an additional 192,669 shares during the period. Oppenheimer Asset Management Inc.’s holdings in AT&T were worth $31,329,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of T. Riggs Asset Managment Co. Inc. boosted its holdings in AT&T by 356.5% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after purchasing an additional 1,116 shares during the period. Pineridge Advisors LLC acquired a new stake in AT&T during the fourth quarter worth about $25,000. Frank Rimerman Advisors LLC bought a new position in AT&T during the fourth quarter valued at about $25,000. American Capital Advisory LLC raised its holdings in AT&T by 107.5% in the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after acquiring an additional 807 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its position in shares of AT&T by 176.6% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock valued at $35,000 after purchasing an additional 1,192 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on T. Evercore ISI raised their price target on shares of AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a research note on Thursday, July 25th. UBS Group reiterated a “buy” rating and issued a $24.00 price target on shares of AT&T in a research report on Tuesday, June 18th. Scotiabank lowered AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft increased their target price on shares of AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Finally, Barclays boosted their price target on shares of AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.31.

AT&T Trading Up 0.2 %

AT&T stock opened at $21.64 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. The firm has a 50-day moving average of $19.59 and a 200-day moving average of $18.17. The company has a market cap of $155.13 billion, a price-to-earnings ratio of 11.63, a P/E/G ratio of 3.65 and a beta of 0.59. AT&T Inc. has a one year low of $14.12 and a one year high of $21.86.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, meeting the consensus estimate of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The company had revenue of $29.80 billion during the quarter, compared to the consensus estimate of $30.05 billion. During the same quarter in the prior year, the firm posted $0.63 EPS. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. On average, equities analysts expect that AT&T Inc. will post 2.2 earnings per share for the current fiscal year.

AT&T Announces Dividend

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