AT&T Inc. (NYSE:T) Holdings Raised by DMC Group LLC

DMC Group LLC lifted its holdings in AT&T Inc. (NYSE:T) by 31.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,754 shares of the technology company’s stock after buying an additional 6,472 shares during the period. DMC Group LLC’s holdings in AT&T were worth $427,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Steward Financial Group LLC increased its stake in shares of AT&T by 159.7% in the first quarter. Steward Financial Group LLC now owns 1,561 shares of the technology company’s stock worth $30,000 after purchasing an additional 960 shares during the period. Carmel Capital Partners LLC bought a new position in AT&T in the 1st quarter worth approximately $31,000. FWL Investment Management LLC acquired a new position in shares of AT&T during the fourth quarter worth approximately $31,000. Lakewood Asset Management LLC bought a new stake in shares of AT&T in the fourth quarter valued at approximately $32,000. Finally, Sageworth Trust Co bought a new stake in shares of AT&T in the first quarter valued at approximately $32,000. Hedge funds and other institutional investors own 53.65% of the company’s stock.

AT&T Price Performance

AT&T stock traded up $0.07 during midday trading on Tuesday, reaching $15.16. The company’s stock had a trading volume of 16,931,286 shares, compared to its average volume of 38,903,191. The stock has a market cap of $108.38 billion, a PE ratio of -12.37, a price-to-earnings-growth ratio of 1.87 and a beta of 0.64. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 1.10. AT&T Inc. has a 52 week low of $13.43 and a 52 week high of $20.50. The business has a 50-day moving average price of $14.46 and a 200-day moving average price of $16.33.

AT&T (NYSE:T) last issued its earnings results on Wednesday, July 26th. The technology company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.03. AT&T had a positive return on equity of 15.91% and a negative net margin of 7.22%. The business had revenue of $29.92 billion during the quarter, compared to analysts’ expectations of $30.07 billion. During the same quarter in the prior year, the firm earned $0.65 EPS. The business’s revenue for the quarter was up .9% compared to the same quarter last year. On average, sell-side analysts predict that AT&T Inc. will post 2.43 EPS for the current year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were issued a $0.2775 dividend. The ex-dividend date of this dividend was Friday, July 7th. This represents a $1.11 dividend on an annualized basis and a yield of 7.32%. AT&T’s payout ratio is currently -90.98%.

Analyst Upgrades and Downgrades

Several research firms have commented on T. JPMorgan Chase & Co. cut AT&T from an “overweight” rating to a “neutral” rating and cut their price target for the company from $22.00 to $17.00 in a report on Friday, July 14th. Moffett Nathanson raised AT&T from an “underperform” rating to a “market perform” rating and set a $17.00 target price on the stock in a report on Tuesday, June 6th. Argus cut AT&T from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Citigroup raised AT&T from a “neutral” rating to a “buy” rating and set a $17.00 price objective on the stock in a research note on Tuesday, August 29th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on AT&T from $23.00 to $22.00 in a research note on Friday, July 14th. Nine analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $20.00.

About AT&T

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.