tru Independence LLC Has $5.19 Million Stock Position in AT&T Inc. (NYSE:T)

tru Independence LLC increased its holdings in shares of AT&T Inc. (NYSE:T) by 0.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 271,571 shares of the technology company’s stock after buying an additional 1,775 shares during the quarter. AT&T accounts for approximately 1.6% of tru Independence LLC’s holdings, making the stock its 28th largest holding. tru Independence LLC’s holdings in AT&T were worth $5,190,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in T. Frank Rimerman Advisors LLC acquired a new stake in shares of AT&T during the fourth quarter worth about $25,000. Pineridge Advisors LLC acquired a new stake in AT&T during the 4th quarter worth approximately $25,000. Strategic Financial Concepts LLC lifted its stake in 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 in the last quarter. Riggs Asset Managment Co. Inc. boosted its holdings in shares of AT&T by 356.5% in the second 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 period. Finally, First Pacific Financial increased its position in shares of AT&T by 166.7% during the first quarter. First Pacific Financial now owns 1,600 shares of the technology company’s stock worth $28,000 after acquiring an additional 1,000 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. BNP Paribas raised shares of AT&T from an “underperform” rating to a “neutral” rating in a research report on Tuesday, June 11th. Moffett Nathanson lifted their target price on AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. TD Cowen upped their price target on AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Royal Bank of Canada lifted their price objective on shares of AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a report on Thursday, July 25th. Finally, The Goldman Sachs Group began coverage on shares of AT&T in a research report on Monday, July 1st. They issued a “buy” rating and a $22.00 price objective on the stock. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $22.06.

AT&T Trading Up 1.5 %

AT&T stock opened at $20.97 on Friday. The stock has a 50-day simple moving average of $19.31 and a 200 day simple moving average of $18.01. The stock has a market capitalization of $150.36 billion, a P/E ratio of 11.27, a PEG ratio of 3.47 and a beta of 0.59. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. AT&T Inc. has a 52 week low of $14.12 and a 52 week high of $21.00.

AT&T (NYSE:T) last posted its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share 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 business had revenue of $29.80 billion for the quarter, compared to analyst estimates of $30.05 billion. During the same period in the previous year, the firm earned $0.63 EPS. The firm’s revenue was down .3% compared to the same quarter last year. Analysts expect that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently announced 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. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.29%. The ex-dividend date of this dividend was Wednesday, July 10th. AT&T’s dividend payout ratio 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.