Edgestream Partners L.P. Acquires 169,837 Shares of AT&T Inc. (NYSE:T)

Edgestream Partners L.P. increased its holdings in shares of AT&T Inc. (NYSE:T) by 57.8% during the 2nd quarter, HoldingsChannel reports. The fund owned 463,659 shares of the technology company’s stock after buying an additional 169,837 shares during the period. AT&T accounts for approximately 0.4% of Edgestream Partners L.P.’s portfolio, making the stock its 23rd biggest holding. Edgestream Partners L.P.’s holdings in AT&T were worth $8,861,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Octavia Wealth Advisors LLC boosted its holdings in shares of AT&T by 2.1% in the 2nd quarter. Octavia Wealth Advisors LLC now owns 25,313 shares of the technology company’s stock worth $484,000 after purchasing an additional 519 shares during the period. WealthCare Investment Partners LLC boosted its stake in AT&T by 2.2% during 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 during the period. Integral Investment Advisors Inc. increased its position in AT&T by 3.2% during the second quarter. Integral Investment Advisors Inc. now owns 17,177 shares of the technology company’s stock valued at $322,000 after acquiring an additional 538 shares during the last quarter. Financial Counselors Inc. raised its stake in shares of AT&T by 0.6% in the second quarter. Financial Counselors Inc. now owns 92,450 shares of the technology company’s stock valued at $1,767,000 after acquiring an additional 539 shares during the period. Finally, Fortitude Family Office LLC lifted its holdings in shares of AT&T by 1.3% in the 2nd quarter. Fortitude Family Office LLC now owns 42,154 shares of the technology company’s stock worth $806,000 after acquiring an additional 559 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

Shares of T stock opened at $22.28 on Tuesday. The company’s 50 day moving average is $19.66 and its 200 day moving average is $18.22. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. The firm has a market cap of $159.72 billion, a price-to-earnings ratio of 11.98, a PEG ratio of 3.68 and a beta of 0.59. AT&T Inc. has a 52-week low of $14.12 and a 52-week high of $22.34.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, hitting the consensus estimate of $0.57. The firm had revenue of $29.80 billion during the quarter, compared to analyst estimates of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The business’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.63 EPS. On average, sell-side analysts anticipate that AT&T Inc. will post 2.2 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.98%. The ex-dividend date of this dividend was Wednesday, July 10th. AT&T’s dividend payout ratio is currently 59.68%.

Wall Street Analyst Weigh In

T has been the topic of several analyst reports. Scotiabank downgraded shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Barclays increased their price target on AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. UBS Group restated a “buy” rating and set a $24.00 price objective on shares of AT&T in a report on Tuesday, June 18th. Daiwa America upgraded AT&T to a “hold” rating in a research note on Friday, July 26th. Finally, Evercore ISI lifted 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. 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.com, AT&T has a consensus rating of “Moderate Buy” and an average target price of $22.31.

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.