Vanguard Personalized Indexing Management LLC Boosts Stake in AT&T Inc. (NYSE:T)

Vanguard Personalized Indexing Management LLC grew its stake in shares of AT&T Inc. (NYSE:T) by 17.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 551,660 shares of the technology company’s stock after buying an additional 83,587 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in AT&T were worth $9,939,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in T. Frank Rimerman Advisors LLC bought a new stake in AT&T in the 4th quarter worth $25,000. Pineridge Advisors LLC bought a new stake in AT&T in the 4th quarter worth $25,000. Strategic Financial Concepts LLC grew its holdings in AT&T by 227.6% in the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $25,000 after acquiring an additional 91,578 shares during the last quarter. Riggs Asset Managment Co. Inc. grew its holdings in AT&T by 356.5% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after acquiring an additional 1,116 shares during the last quarter. Finally, American Capital Advisory LLC grew its holdings in AT&T by 107.5% in the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after acquiring an additional 807 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. lifted their target price on shares of AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. TD Cowen lifted their price target on shares of AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Oppenheimer lifted their price target on shares of AT&T from $21.00 to $23.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Evercore ISI lifted their price target on shares of AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a research report on Thursday, July 25th. Finally, Citigroup lifted their price target on shares of AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and a consensus price target of $22.31.

AT&T Stock Performance

Shares of T stock opened at $21.78 on Wednesday. The company has a 50 day moving average price of $19.72 and a 200-day moving average price of $18.26. AT&T Inc. has a 52 week low of $14.12 and a 52 week high of $22.34. The firm has a market capitalization of $156.17 billion, a PE ratio of 11.71, a P/E/G ratio of 3.68 and a beta of 0.59. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05.

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

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were given a dividend of $0.2775 per share. The ex-dividend date was Wednesday, July 10th. This represents a $1.11 annualized dividend and a yield of 5.10%. AT&T’s dividend payout ratio (DPR) is 59.68%.

AT&T Profile

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.