96,597 Shares in AT&T Inc. $T Purchased by Baltimore Washington Financial Advisors Inc.

Baltimore Washington Financial Advisors Inc. purchased a new stake in AT&T Inc. (NYSE:T) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 96,597 shares of the technology company’s stock, valued at approximately $2,796,000.

Several other hedge funds have also bought and sold shares of the stock. Denali Advisors LLC raised its position in AT&T by 5.9% during the second 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 grew its position in shares of 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 during the period. CHURCHILL MANAGEMENT Corp grew its position in shares of AT&T by 1.5% in the second quarter. CHURCHILL MANAGEMENT Corp now owns 324,104 shares of the technology company’s stock valued at $9,380,000 after purchasing an additional 4,793 shares during the period. Kickstand Ventures LLC. purchased a new stake in shares of AT&T during the second quarter worth about $489,000. Finally, Sentry Investment Management LLC raised its position in shares of AT&T by 153.2% during the 2nd quarter. Sentry Investment Management LLC now owns 22,095 shares of the technology company’s stock worth $625,000 after purchasing an additional 13,370 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on T. Weiss Ratings reaffirmed a “buy (b)” rating on shares of AT&T in a research note on Wednesday, October 8th. Cowen reissued a “hold” rating on shares of AT&T in a report on Thursday, October 23rd. Williams Trading set a $33.00 target price on AT&T in a research report on Thursday, October 23rd. Wells Fargo & Company lowered their price target on AT&T from $31.00 to $29.00 and set an “overweight” rating on the stock in a research note on Thursday, October 16th. Finally, Royal Bank Of Canada reduced their price objective on AT&T from $31.00 to $30.00 and set an “outperform” rating for the company in a research note on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and an average target price of $30.64.

AT&T Price Performance

T stock opened at $25.86 on Thursday. AT&T Inc. has a 1 year low of $21.38 and a 1 year high of $29.79. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.01 and a quick ratio of 0.96. The firm has a market capitalization of $183.30 billion, a PE ratio of 8.39, 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 $26.15 and a 200-day simple moving average of $27.44.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.54. The company had revenue of $30.71 billion for the quarter, compared to analyst estimates of $30.85 billion. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 earnings per share. Equities research analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal 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 given a dividend of $0.2775 per share. The ex-dividend date of this dividend was Friday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.3%. AT&T’s payout ratio is presently 36.04%.

AT&T Profile

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.