Lynx Investment Advisory Purchases Shares of 2,893 AT&T Inc. (NYSE:T)

Lynx Investment Advisory acquired a new position in AT&T Inc. (NYSE:T) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,893 shares of the technology company’s stock, valued at approximately $55,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Cantor Fitzgerald Investment Advisors L.P. bought a new position in shares of AT&T in the 4th quarter worth about $11,554,000. Provence Wealth Management Group increased its stake in shares of AT&T by 55.8% in the 4th quarter. Provence Wealth Management Group now owns 16,217 shares of the technology company’s stock worth $272,000 after acquiring an additional 5,807 shares in the last quarter. Clearbridge Investments LLC increased its stake in shares of AT&T by 250.3% in the 4th quarter. Clearbridge Investments LLC now owns 67,303 shares of the technology company’s stock worth $1,129,000 after acquiring an additional 48,091 shares in the last quarter. Brighton Jones LLC increased its stake in shares of AT&T by 12.6% in the 4th quarter. Brighton Jones LLC now owns 46,265 shares of the technology company’s stock worth $776,000 after acquiring an additional 5,161 shares in the last quarter. Finally, Summa Corp. bought a new stake in AT&T during the 4th quarter valued at about $395,000. 57.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

T has been the topic of a number of recent analyst reports. Scotiabank raised their price target on shares of AT&T from $23.00 to $24.00 and gave the company a “sector outperform” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. raised their price target 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. Deutsche Bank Aktiengesellschaft raised their price target on shares of AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a report on Friday, June 28th. UBS Group reaffirmed a “buy” rating and set a $24.00 price target on shares of AT&T in a report on Tuesday, June 18th. Finally, Oppenheimer raised their price target 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. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and an average price target of $22.33.

AT&T Trading Up 1.0 %

NYSE T traded up $0.20 on Wednesday, hitting $19.39. 13,152,166 shares of the stock were exchanged, compared to its average volume of 36,770,914. 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 stock has a fifty day moving average price of $18.56 and a two-hundred day moving average price of $17.60. The firm has a market capitalization of $139.03 billion, a P/E ratio of 10.44, a P/E/G ratio of 3.26 and a beta of 0.58. AT&T Inc. has a 52-week low of $13.92 and a 52-week high of $19.99.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, hitting 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%. AT&T’s quarterly revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.63 earnings per share. Research analysts forecast that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently disclosed 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 5.72%. The ex-dividend date of this dividend was Wednesday, July 10th. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

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.