AT&T Inc. $T Position Increased by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. boosted its holdings in AT&T Inc. (NYSE:T) by 6.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,665,439 shares of the technology company’s stock after buying an additional 449,400 shares during the quarter. Adage Capital Partners GP L.L.C. owned 0.11% of AT&T worth $221,838,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Ameriprise Financial Inc. boosted its stake in shares of AT&T by 8.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 55,247,484 shares of the technology company’s stock worth $1,598,697,000 after acquiring an additional 4,404,688 shares in the last quarter. CTC Alternative Strategies Ltd. purchased a new stake in shares of AT&T during the second quarter valued at $794,000. Lighthouse Investment Partners LLC boosted its position in shares of AT&T by 304.8% in the 2nd quarter. Lighthouse Investment Partners LLC now owns 921,756 shares of the technology company’s stock valued at $26,676,000 after purchasing an additional 694,055 shares during the period. Florida Financial Advisors LLC increased its stake in AT&T by 680.9% in the 2nd quarter. Florida Financial Advisors LLC now owns 76,244 shares of the technology company’s stock worth $2,192,000 after purchasing an additional 66,481 shares in the last quarter. Finally, MGB Wealth Management LLC purchased a new position in AT&T in the 2nd quarter worth about $414,000. Institutional investors own 57.10% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on T shares. Wells Fargo & Company reduced their price objective on shares of AT&T from $31.00 to $29.00 and set an “overweight” rating for the company in a research note on Thursday, October 16th. KeyCorp upgraded shares of AT&T from a “sector weight” rating to an “overweight” rating and set a $30.00 price target on the stock in a report on Tuesday, November 11th. The Goldman Sachs Group started coverage on shares of AT&T in a research report on Tuesday, September 2nd. They issued a “buy” rating and a $32.00 price target for the company. Cowen reiterated a “hold” rating on shares of AT&T in a research report on Thursday, October 23rd. Finally, Raymond James Financial reissued a “strong-buy” rating and set a $33.00 target price (up from $31.00) on shares of AT&T in a research note on Thursday, September 18th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $30.55.

AT&T Trading Up 1.1%

Shares of NYSE:T opened at $24.57 on Friday. The firm has a fifty day moving average of $25.41 and a two-hundred day moving average of $27.26. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 1.01. AT&T Inc. has a 12-month low of $21.38 and a 12-month high of $29.79. The firm has a market capitalization of $174.20 billion, a P/E ratio of 7.98, a price-to-earnings-growth ratio of 1.42 and a beta of 0.38.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, October 22nd. The technology company reported $0.54 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.54. The business had revenue of $30.71 billion during 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%.AT&T’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period last year, the company earned $0.60 earnings per share. On average, equities analysts expect that AT&T Inc. will post 2.14 EPS 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 paid a dividend of $0.2775 per share. The ex-dividend date of this dividend was Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.5%. AT&T’s dividend payout ratio (DPR) is 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.