Columbia Asset Management Purchases 7,580 Shares of AT&T Inc. (NYSE:T)

Columbia Asset Management increased its position in AT&T Inc. (NYSE:T) by 6.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 130,430 shares of the technology company’s stock after purchasing an additional 7,580 shares during the period. Columbia Asset Management’s holdings in AT&T were worth $2,493,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of T. Vantage Financial Partners LLC raised its position in shares of AT&T by 25.5% in the 4th quarter. Vantage Financial Partners LLC now owns 38,207 shares of the technology company’s stock worth $641,000 after purchasing an additional 7,762 shares during the last quarter. Gilbert & Cook Inc. raised its holdings in AT&T by 4.1% in the fourth quarter. Gilbert & Cook Inc. now owns 31,130 shares of the technology company’s stock worth $522,000 after buying an additional 1,212 shares during the last quarter. Fisher Asset Management LLC lifted its stake in shares of AT&T by 40.8% in the fourth quarter. Fisher Asset Management LLC now owns 142,331 shares of the technology company’s stock worth $2,388,000 after buying an additional 41,244 shares in the last quarter. Aveo Capital Partners LLC lifted its stake in shares of AT&T by 4.5% in the fourth quarter. Aveo Capital Partners LLC now owns 27,770 shares of the technology company’s stock worth $466,000 after buying an additional 1,194 shares in the last quarter. Finally, Gryphon Financial Partners LLC increased its position in shares of AT&T by 21.8% during the fourth quarter. Gryphon Financial Partners LLC now owns 27,253 shares of the technology company’s stock valued at $477,000 after acquiring an additional 4,870 shares in the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

T has been the subject of several research analyst reports. TD Cowen lifted their price objective on AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Royal Bank of Canada lifted their price target on shares of AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 25th. BNP Paribas upgraded shares of AT&T from an “underperform” rating to a “neutral” rating in a research report on Tuesday, June 11th. JPMorgan Chase & Co. raised their target price on shares of AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, Daiwa America upgraded shares of AT&T to a “hold” rating in a research note on Friday, July 26th. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $22.06.

AT&T Stock Up 0.4 %

Shares of T opened at $20.66 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. The company has a market cap of $148.10 billion, a PE ratio of 11.10, a P/E/G ratio of 3.36 and a beta of 0.59. AT&T Inc. has a 52-week low of $14.12 and a 52-week high of $20.87. The business has a fifty day moving average of $19.27 and a 200 day moving average of $17.97.

AT&T (NYSE:T) last posted its earnings results on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, meeting analysts’ consensus estimates of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The company had revenue of $29.80 billion during the quarter, compared to analysts’ expectations of $30.05 billion. During the same quarter in the prior year, the company posted $0.63 earnings per share. AT&T’s revenue for the quarter was down .3% compared to the same quarter last year. On average, sell-side analysts expect that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The business also recently disclosed 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. The ex-dividend date was Wednesday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.37%. AT&T’s payout ratio is currently 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.