Meeder Advisory Services Inc. Has $2.13 Million Position in AT&T Inc. (NYSE:T)

Meeder Advisory Services Inc. lifted its position in AT&T Inc. (NYSE:T) by 38.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 111,197 shares of the technology company’s stock after acquiring an additional 30,887 shares during the period. Meeder Advisory Services Inc.’s holdings in AT&T were worth $2,125,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of T. Oppenheimer & Co. Inc. raised its holdings in AT&T by 36.0% in the second quarter. Oppenheimer & Co. Inc. now owns 963,923 shares of the technology company’s stock worth $18,421,000 after purchasing an additional 255,279 shares during the period. Equity Investment Corp raised its stake in AT&T by 3.0% during the 2nd quarter. Equity Investment Corp now owns 9,043,984 shares of the technology company’s stock worth $172,831,000 after buying an additional 266,717 shares during the period. Vest Financial LLC lifted its holdings in AT&T by 10.3% during the second quarter. Vest Financial LLC now owns 38,865 shares of the technology company’s stock worth $743,000 after acquiring an additional 3,637 shares in the last quarter. PFG Advisors lifted its holdings in AT&T by 5.8% during the second quarter. PFG Advisors now owns 43,121 shares of the technology company’s stock worth $824,000 after acquiring an additional 2,376 shares in the last quarter. Finally, Thornburg Investment Management Inc. increased its holdings in shares of AT&T by 22.0% in the second quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company’s stock worth $477,528,000 after acquiring an additional 4,511,725 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Royal Bank of Canada lifted their price objective on AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a 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 note on Thursday, July 25th. TD Cowen increased their price objective on shares of AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. UBS Group reaffirmed a “buy” rating and issued a $24.00 price objective on shares of AT&T in a research report on Tuesday, June 18th. Finally, Moffett Nathanson increased their target price on AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $22.31.

AT&T Stock Performance

T opened at $21.59 on Friday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. The business’s 50-day simple moving average is $19.53 and its 200 day simple moving average is $18.13. The firm has a market capitalization of $154.81 billion, a PE ratio of 11.61, a PEG ratio of 3.65 and a beta of 0.59. AT&T Inc. has a 52-week low of $14.12 and a 52-week high of $21.86.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $30.05 billion. During the same quarter in the prior year, the business posted $0.63 EPS. The business’s revenue was down .3% compared to the same quarter last year. As a group, sell-side analysts expect that AT&T Inc. will post 2.2 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.14%. The ex-dividend date of this dividend was Wednesday, July 10th. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

AT&T Company 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.