Retirement Planning Co of New England Inc. Boosts Position in AT&T Inc. (NYSE:T)

Retirement Planning Co of New England Inc. raised its stake in shares of AT&T Inc. (NYSE:T) by 12.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,039 shares of the technology company’s stock after buying an additional 1,297 shares during the quarter. Retirement Planning Co of New England Inc.’s holdings in AT&T were worth $230,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Vantage Financial Partners LLC boosted its position in shares of 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 acquiring an additional 7,762 shares during the last quarter. Gilbert & Cook Inc. boosted its position in shares of AT&T by 4.1% during the 4th 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 boosted its position in shares of AT&T by 4.5% during the 4th quarter. Aveo Capital Partners LLC now owns 27,770 shares of the technology company’s stock valued at $466,000 after acquiring an additional 1,194 shares during the last quarter. Gryphon Financial Partners LLC boosted its position in shares of AT&T by 21.8% during the 4th quarter. Gryphon Financial Partners LLC now owns 27,253 shares of the technology company’s stock valued at $477,000 after acquiring an additional 4,870 shares during the last quarter. Finally, Fiera Capital Corp bought a new stake in shares of AT&T during the 4th quarter valued at about $207,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

Shares of T stock opened at $21.64 on Monday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. AT&T Inc. has a fifty-two week low of $14.12 and a fifty-two week high of $21.86. The stock has a 50 day moving average price of $19.59 and a two-hundred day moving average price of $18.19. The company has a market capitalization of $155.16 billion, a P/E ratio of 11.63, a PEG ratio of 3.68 and a beta of 0.59.

AT&T (NYSE:T) last posted its earnings results 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 return on equity of 14.16% and a net margin of 10.41%. 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 previous year, the firm earned $0.63 earnings per share. The business’s revenue was down .3% compared to the same quarter last year. Analysts expect that AT&T Inc. will post 2.2 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Stockholders 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 annualized dividend and a dividend yield of 5.13%. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on T. UBS Group reiterated a “buy” rating and set a $24.00 price target on shares of AT&T in a research report on Tuesday, June 18th. JPMorgan Chase & Co. boosted their target price on AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Evercore ISI boosted their target price on AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a research report on Thursday, July 25th. Citigroup boosted their target price on AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Finally, Scotiabank downgraded AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.31.

AT&T Company 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.