AT&T Inc. (NYSE:T) Stock Position Raised by GAMMA Investing LLC

GAMMA Investing LLC lifted its stake in AT&T Inc. (NYSE:T) by 52.6% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 94,813 shares of the technology company’s stock after acquiring an additional 32,698 shares during the period. GAMMA Investing LLC’s holdings in AT&T were worth $1,812,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in T. Norges Bank bought a new position in shares of AT&T in the 4th quarter valued at approximately $1,118,288,000. Thornburg Investment Management Inc. bought a new position in AT&T in the 4th quarter worth approximately $316,472,000. Kodai Capital Management LP bought a new position in AT&T in the 4th quarter worth approximately $152,109,000. Point72 Asset Management L.P. increased its position in AT&T by 120.8% in the 4th quarter. Point72 Asset Management L.P. now owns 9,086,854 shares of the technology company’s stock worth $152,477,000 after buying an additional 4,970,954 shares during the period. Finally, Bank of New York Mellon Corp increased its position in AT&T by 5.6% in the 1st quarter. Bank of New York Mellon Corp now owns 75,484,518 shares of the technology company’s stock worth $1,328,528,000 after buying an additional 4,014,873 shares during the period. 57.10% of the stock is owned by institutional investors.

AT&T Trading Down 0.5 %

NYSE:T traded down $0.10 on Friday, reaching $19.37. The company’s stock had a trading volume of 45,240,116 shares, compared to its average volume of 37,305,292. AT&T Inc. has a 1-year low of $13.89 and a 1-year high of $19.99. 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 firm has a market cap of $138.89 billion, a PE ratio of 10.41, a PEG ratio of 3.28 and a beta of 0.58. The business’s 50-day moving average price is $18.49 and its two-hundred day moving average price is $17.57.

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

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were given a dividend of $0.2775 per share. The ex-dividend date was Wednesday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.73%. AT&T’s dividend payout ratio is currently 59.68%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on T shares. Oppenheimer lifted their price objective on AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Daiwa America raised AT&T to a “hold” rating in a report on Friday, July 26th. BNP Paribas raised AT&T from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 11th. JPMorgan Chase & Co. lifted their price objective on AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, Royal Bank of Canada boosted their price target 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. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $22.33.

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.