ABN Amro Investment Solutions Purchases New Position in AT&T Inc. $T

ABN Amro Investment Solutions acquired a new position in AT&T Inc. (NYSE:T) during the second quarter, according to the company in its most recent filing with the SEC. The fund acquired 102,740 shares of the technology company’s stock, valued at approximately $2,973,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Stone House Investment Management LLC acquired a new position in AT&T in the first quarter worth about $25,000. O Brien Wealth Partners LLC acquired a new position in AT&T during the 2nd quarter valued at about $26,000. Kennebec Savings Bank increased its position in AT&T by 412.1% in the 2nd quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock valued at $28,000 after acquiring an additional 783 shares during the period. Solstein Capital LLC lifted its stake in AT&T by 217.3% during the second quarter. Solstein Capital LLC now owns 952 shares of the technology company’s stock valued at $28,000 after buying an additional 652 shares in the last quarter. Finally, IMA Advisory Services Inc. acquired a new position in AT&T in the 1st quarter worth approximately $29,000. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on T. TD Cowen increased their price objective on AT&T from $32.00 to $33.00 and gave the stock a “hold” rating in a report on Thursday, October 23rd. Williams Trading set a $33.00 price target on AT&T in a research report on Thursday, October 23rd. Barclays cut their target price on shares of AT&T from $30.00 to $28.00 and set an “equal weight” rating for the company in a research note on Thursday, October 23rd. Royal Bank Of Canada decreased their price objective on AT&T from $31.00 to $30.00 and set an “outperform” rating on the stock in a report on Thursday, October 23rd. Finally, Raymond James Financial reissued a “strong-buy” rating and issued a $33.00 target price (up previously from $31.00) on shares of AT&T in a research note on Thursday, September 18th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, AT&T presently has an average rating of “Moderate Buy” and an average target price of $30.64.

AT&T Stock Up 0.2%

T stock opened at $25.71 on Friday. The company has a market capitalization of $182.23 billion, a P/E ratio of 8.35, a price-to-earnings-growth ratio of 2.16 and a beta of 0.40. AT&T Inc. has a 12 month low of $21.38 and a 12 month high of $29.79. The firm’s fifty day simple moving average is $26.83 and its 200-day simple moving average is $27.57. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.01 and a quick ratio of 0.96.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.54. The firm had revenue of $30.71 billion for the quarter, compared to analysts’ expectations of $30.85 billion. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.60 EPS. As a group, equities research analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Friday, October 10th were given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend was Friday, October 10th. AT&T’s dividend payout ratio is currently 36.04%.

About AT&T

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.