Beaton Management Co. Inc. boosted its position in AT&T Inc. (NYSE:T) by 2.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,786 shares of the technology company’s stock after buying an additional 1,704 shares during the quarter. AT&T accounts for approximately 1.3% of Beaton Management Co. Inc.’s holdings, making the stock its 25th biggest holding. Beaton Management Co. Inc.’s holdings in AT&T were worth $2,037,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the business. Newton One Investments LLC bought a new stake in shares of AT&T in the 2nd quarter worth about $27,000. IronBridge Private Wealth LLC bought a new stake in shares of AT&T in the 1st quarter worth about $30,000. Interactive Financial Advisors increased its position in shares of AT&T by 65.8% in the 1st quarter. Interactive Financial Advisors now owns 1,101 shares of the technology company’s stock worth $33,000 after purchasing an additional 437 shares during the last quarter. Cypress Point Wealth Management LLC increased its position in shares of AT&T by 4,411.8% in the 2nd quarter. Cypress Point Wealth Management LLC now owns 1,534 shares of the technology company’s stock worth $44,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Roble Belko & Company Inc increased its position in shares of AT&T by 21.7% in the 1st quarter. Roble Belko & Company Inc now owns 1,824 shares of the technology company’s stock worth $55,000 after purchasing an additional 325 shares during the last quarter. Hedge funds and other institutional investors own 51.61% of the company’s stock.
Shares of T traded up $0.46 during midday trading on Monday, hitting $27.59. The stock had a trading volume of 567,022 shares, compared to its average volume of 40,642,012. The stock’s 50 day moving average is $27.68 and its 200 day moving average is $29.13. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.77 and a quick ratio of 0.73. AT&T Inc. has a 1 year low of $26.35 and a 1 year high of $33.88. The firm has a market cap of $196.99 billion, a PE ratio of -87.51, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78.
The business also recently announced a quarterly dividend, which will be paid on Monday, November 1st. Stockholders of record on Monday, October 11th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, October 7th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 7.54%. AT&T’s dividend payout ratio is currently 65.41%.
Several research firms recently commented on T. Loop Capital started coverage on shares of AT&T in a research note on Monday, September 20th. They set a “hold” rating and a $30.00 target price for the company. Argus downgraded shares of AT&T from a “buy” rating to a “hold” rating and set a $28.09 price target for the company. in a report on Tuesday, July 27th. Scotiabank raised shares of AT&T from a “sector underperform” rating to a “sector perform” rating and increased their price target for the company from $28.00 to $31.00 in a report on Wednesday, June 16th. Royal Bank of Canada began coverage on shares of AT&T in a research note on Thursday, July 22nd. They issued a “hold” rating and a $30.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of AT&T from $34.00 to $37.00 and gave the company a “buy” rating in a research note on Monday, July 26th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $31.10.
AT&T, Inc is a holding company, which engages in the provision of telecommunications media and technology service. It operates through the following segments: Communications, WarnerMedia, and Latin America. The Communications segment provides services to businesses and consumers located in the U.S., or in U.S.
Recommended Story: Why does the United States have a lingering trade deficit?
Want to see what other hedge funds are holding T? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AT&T Inc. (NYSE:T).
Receive News & Ratings for AT&T Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AT&T and related companies with MarketBeat.com's FREE daily email newsletter.