Bahl & Gaynor Inc. Grows Stake in AT&T Inc. $T

Bahl & Gaynor Inc. raised its position in shares of AT&T Inc. (NYSE:T) by 12.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,539 shares of the technology company’s stock after purchasing an additional 2,696 shares during the period. Bahl & Gaynor Inc.’s holdings in AT&T were worth $681,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Denali Advisors LLC increased its holdings in AT&T by 5.9% during the 2nd quarter. Denali Advisors LLC now owns 401,037 shares of the technology company’s stock worth $11,606,000 after acquiring an additional 22,394 shares during the period. Tredje AP fonden raised its stake in AT&T by 1.8% in the second quarter. Tredje AP fonden now owns 1,221,395 shares of the technology company’s stock valued at $35,347,000 after purchasing an additional 21,720 shares in the last quarter. CHURCHILL MANAGEMENT Corp lifted its holdings in shares of AT&T by 1.5% during the 2nd quarter. CHURCHILL MANAGEMENT Corp now owns 324,104 shares of the technology company’s stock worth $9,380,000 after acquiring an additional 4,793 shares during the last quarter. Kickstand Ventures LLC. bought a new stake in AT&T during the second quarter worth about $489,000. Finally, Sentry Investment Management LLC boosted its stake in AT&T by 153.2% in the second quarter. Sentry Investment Management LLC now owns 22,095 shares of the technology company’s stock worth $625,000 after buying an additional 13,370 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

Shares of NYSE:T opened at $25.94 on Monday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.96 and a current ratio of 1.01. The firm has a market cap of $183.90 billion, a price-to-earnings ratio of 8.42, a price-to-earnings-growth ratio of 2.16 and a beta of 0.40. The business has a 50-day simple moving average of $26.37 and a two-hundred day simple moving average of $27.48. AT&T Inc. has a fifty-two week low of $21.38 and a fifty-two week high of $29.79.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 EPS for the quarter, hitting analysts’ consensus estimates of $0.54. The firm had revenue of $30.71 billion during the quarter, compared to analyst estimates of $30.85 billion. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.60 earnings per share. On average, analysts expect that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Friday, October 10th were issued 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 presently 36.04%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on T. Citigroup restated a “buy” rating on shares of AT&T in a research report on Tuesday, August 26th. The Goldman Sachs Group initiated coverage on shares of AT&T in a report on Tuesday, September 2nd. They issued a “buy” rating and a $32.00 price target on the stock. TD Cowen raised their target price on AT&T from $32.00 to $33.00 and gave the company a “hold” rating in a research note on Thursday, October 23rd. Barclays dropped their price objective on shares of AT&T from $30.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 23rd. Finally, KeyCorp raised AT&T from a “sector weight” rating to an “overweight” rating and set a $30.00 target price on the stock in a research note on Tuesday, November 11th. One 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $30.64.

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.