AT&T Inc. (NYSE:T) Shares Acquired by Focus Financial Network Inc.

Focus Financial Network Inc. raised its stake in shares of AT&T Inc. (NYSE:T) by 7.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,947 shares of the technology company’s stock after buying an additional 1,362 shares during the period. Focus Financial Network Inc.’s holdings in AT&T were worth $382,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. WealthCare Investment Partners LLC increased its position in AT&T by 2.2% in the second quarter. WealthCare Investment Partners LLC now owns 24,138 shares of the technology company’s stock worth $461,000 after purchasing an additional 525 shares during the period. Fortitude Family Office LLC lifted its holdings in AT&T by 1.3% during the 2nd quarter. Fortitude Family Office LLC now owns 42,154 shares of the technology company’s stock valued at $806,000 after purchasing an additional 559 shares during the last quarter. Riverview Trust Co increased its stake in shares of AT&T by 4.6% during the second quarter. Riverview Trust Co now owns 13,368 shares of the technology company’s stock worth $255,000 after purchasing an additional 592 shares during the period. Texas Capital Bank Wealth Management Services Inc increased its position in AT&T by 1.7% during the fourth quarter. Texas Capital Bank Wealth Management Services Inc now owns 35,098 shares of the technology company’s stock worth $589,000 after acquiring an additional 598 shares during the period. Finally, Klingman & Associates LLC grew its position in AT&T by 3.1% during the first quarter. Klingman & Associates LLC now owns 19,889 shares of the technology company’s stock worth $350,000 after buying an additional 603 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Performance

Shares of NYSE:T traded up $0.01 during midday trading on Wednesday, hitting $19.50. The stock had a trading volume of 7,454,323 shares, compared to its average volume of 36,005,594. The company has a market capitalization of $139.82 billion, a PE ratio of 10.46, a P/E/G ratio of 3.31 and a beta of 0.58. AT&T Inc. has a 1 year low of $14.03 and a 1 year high of $19.99. The stock has a 50 day moving average price of $18.85 and a two-hundred day moving average price of $17.75. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05.

AT&T (NYSE:T) last released its quarterly 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. The company had revenue of $29.80 billion for the quarter, compared to analysts’ expectations of $30.05 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period last year, the company earned $0.63 EPS. As a group, equities analysts predict that AT&T Inc. will post 2.22 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. Investors of record on Wednesday, July 10th were issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 5.69%. The ex-dividend date was Wednesday, July 10th. AT&T’s dividend payout ratio is currently 59.68%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on T. 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 report on Thursday, July 25th. Daiwa America upgraded shares of AT&T to a “hold” rating in a report on Friday, July 26th. The Goldman Sachs Group started coverage on AT&T in a research note on Monday, July 1st. They set a “buy” rating and a $22.00 price target for the company. StockNews.com lowered shares of AT&T from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. Finally, Scotiabank lowered shares of AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.06.

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.