Corient Private Wealth LLC Increases Position in AT&T Inc. $T

Corient Private Wealth LLC lifted its position in shares of AT&T Inc. (NYSE:T) by 4.5% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,447,866 shares of the technology company’s stock after buying an additional 105,712 shares during the quarter. Corient Private Wealth LLC’s holdings in AT&T were worth $70,841,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of T. Capital A Wealth Management LLC raised its holdings in AT&T by 255.2% during the second quarter. Capital A Wealth Management LLC now owns 2,955 shares of the technology company’s stock valued at $86,000 after acquiring an additional 2,123 shares during the period. Caldwell Trust Co purchased a new stake in shares of AT&T during the second quarter worth about $1,148,000. Canal Capital Management LLC raised its stake in AT&T by 2.8% during the 2nd quarter. Canal Capital Management LLC now owns 246,038 shares of the technology company’s stock valued at $7,120,000 after purchasing an additional 6,713 shares during the period. Valeo Financial Advisors LLC lifted its holdings in AT&T by 23.4% in the 2nd quarter. Valeo Financial Advisors LLC now owns 169,750 shares of the technology company’s stock worth $4,913,000 after purchasing an additional 32,148 shares in the last quarter. Finally, Milestones Private Investment Advisors LLC purchased a new position in AT&T in the 2nd quarter worth approximately $410,000. Institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on T shares. Wall Street Zen lowered shares of AT&T from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. TD Cowen lifted their price target on shares of AT&T from $32.00 to $33.00 and gave the company a “hold” rating in a report on Thursday, October 23rd. Sanford C. Bernstein boosted their price target on shares of AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, September 4th. Weiss Ratings reissued a “buy (b)” rating on shares of AT&T in a report on Wednesday, October 8th. Finally, Citigroup reaffirmed a “buy” rating on shares of AT&T in a report on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $30.55.

AT&T Stock Performance

Shares of NYSE:T opened at $24.33 on Tuesday. The firm has a fifty day simple moving average of $25.37 and a two-hundred day simple moving average of $27.23. AT&T Inc. has a 52 week low of $21.38 and a 52 week high of $29.79. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $172.46 billion, a P/E ratio of 7.90, a PEG ratio of 1.44 and a beta of 0.38.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 EPS for the quarter, meeting analysts’ consensus estimates of $0.54. The firm had revenue of $30.71 billion during the quarter, compared to the consensus estimate 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 firm earned $0.60 EPS. On average, analysts expect that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, January 12th will be paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend is Monday, January 12th. AT&T’s dividend payout ratio (DPR) is presently 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.