AT&T Inc. (NYSE:T) Shares Bought by Moors & Cabot Inc.

Moors & Cabot Inc. grew its holdings in shares of AT&T Inc. (NYSE:T) by 3.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 192,774 shares of the technology company’s stock after purchasing an additional 7,250 shares during the period. Moors & Cabot Inc.’s holdings in AT&T were worth $3,684,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Frank Rimerman Advisors LLC bought a new position in AT&T during the fourth quarter valued at about $25,000. Pineridge Advisors LLC bought a new position in AT&T during the fourth quarter valued at about $25,000. Strategic Financial Concepts LLC boosted its stake in AT&T by 227.6% during the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after buying an additional 91,578 shares in the last quarter. Riggs Asset Managment Co. Inc. boosted its stake in AT&T by 356.5% during the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after buying an additional 1,116 shares in the last quarter. Finally, American Capital Advisory LLC boosted its stake in AT&T by 107.5% during the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after buying an additional 807 shares in the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Stock Up 2.9 %

T opened at $22.28 on Tuesday. AT&T Inc. has a fifty-two week low of $14.12 and a fifty-two week high of $22.34. The business has a 50-day moving average of $19.66 and a 200-day moving average of $18.22. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. The company has a market capitalization of $159.72 billion, a PE ratio of 11.98, a price-to-earnings-growth ratio of 3.68 and a beta of 0.59.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The company had revenue of $29.80 billion during the quarter, compared to the consensus estimate of $30.05 billion. During the same period last year, the business earned $0.63 EPS. The business’s quarterly revenue was down .3% on a year-over-year basis. Equities research analysts forecast that AT&T Inc. will post 2.2 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.98%. The ex-dividend date was Wednesday, July 10th. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on T. Barclays increased their price target on AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Citigroup increased their price target on AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. TD Cowen increased their price target on AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Oppenheimer increased their price target on AT&T from $21.00 to $23.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $22.31.

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, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.