SPC Financial Inc. Boosts Holdings in AT&T Inc. (NYSE:T)

SPC Financial Inc. boosted its stake in AT&T Inc. (NYSE:T) by 12.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,356 shares of the technology company’s stock after acquiring an additional 2,810 shares during the period. SPC Financial Inc.’s holdings in AT&T were worth $558,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in T. Davidson Kempner Capital Management LP purchased a new stake in AT&T in the 2nd quarter valued at $23,888,000. Talbot Financial LLC acquired a new stake in shares of AT&T during the third quarter worth about $7,438,000. Mackenzie Financial Corp grew its holdings in shares of AT&T by 12.2% during the second quarter. Mackenzie Financial Corp now owns 2,641,856 shares of the technology company’s stock worth $50,486,000 after buying an additional 288,093 shares during the last quarter. DRW Securities LLC increased its position in AT&T by 642.2% in the 2nd quarter. DRW Securities LLC now owns 104,309 shares of the technology company’s stock valued at $1,997,000 after acquiring an additional 90,255 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its stake in AT&T by 4.3% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 1,037,529 shares of the technology company’s stock valued at $19,827,000 after acquiring an additional 43,062 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

T has been the topic of several recent research reports. Scotiabank cut shares of AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. TD Cowen boosted their price target on shares of AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Barclays boosted their target price on AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Finally, JPMorgan Chase & Co. raised their price target on AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.69.

AT&T Trading Up 0.1 %

Shares of AT&T stock opened at $21.74 on Friday. AT&T Inc. has a 1 year low of $14.31 and a 1 year high of $22.34. 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 business has a 50 day moving average price of $20.90 and a 200 day moving average price of $18.93. The company has a market capitalization of $155.84 billion, a P/E ratio of 11.69, a P/E/G ratio of 3.63 and a beta of 0.60.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, hitting analysts’ consensus estimates 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%. 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 firm posted $0.63 earnings per share. Sell-side analysts anticipate that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be paid a dividend of $0.2775 per share. The ex-dividend date is Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.11%. AT&T’s dividend payout ratio is currently 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.