Financial Perspectives Inc Purchases 1,057 Shares of AT&T Inc. (NYSE:T)

Financial Perspectives Inc lifted its holdings in shares of AT&T Inc. (NYSE:T) by 5.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,827 shares of the technology company’s stock after acquiring an additional 1,057 shares during the quarter. Financial Perspectives Inc’s holdings in AT&T were worth $360,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Frank Rimerman Advisors LLC bought a new stake in shares of AT&T in the 4th quarter worth approximately $25,000. Pineridge Advisors LLC purchased a new stake in AT&T in the fourth quarter worth $25,000. Strategic Financial Concepts LLC raised its stake in shares of AT&T by 227.6% in 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 during the period. Riggs Asset Managment Co. Inc. lifted its position in shares of AT&T by 356.5% during the 2nd 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 during the last quarter. Finally, American Capital Advisory LLC grew its stake in shares of AT&T by 107.5% during 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 period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 0.2 %

Shares of NYSE T opened at $21.64 on Monday. The stock has a market capitalization of $155.16 billion, a P/E ratio of 11.63, a PEG ratio of 3.68 and a beta of 0.59. AT&T Inc. has a one year low of $14.12 and a one year high of $21.86. The firm’s 50 day simple moving average is $19.59 and its two-hundred day simple moving average is $18.19. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66.

AT&T (NYSE:T) last posted its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 period last year, the firm earned $0.63 earnings per share. AT&T’s quarterly revenue was down .3% on a year-over-year basis. As a group, analysts expect that AT&T Inc. will post 2.2 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 5.13%. The ex-dividend date was Wednesday, July 10th. AT&T’s payout ratio is 59.68%.

Wall Street Analyst Weigh In

Several research firms have commented on T. Oppenheimer upped their price objective on shares of AT&T from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Daiwa America upgraded shares of AT&T to a “hold” rating in a research note on Friday, July 26th. Moffett Nathanson lifted their price objective on shares of AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. boosted their target price on shares of AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Finally, Citigroup raised their price target on AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus 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.