Luts & Greenleigh Group Inc. Purchases Shares of 16,429 AT&T Inc. (NYSE:T)

Luts & Greenleigh Group Inc. purchased 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 purchased 16,429 shares of the technology company’s stock, valued at approximately $314,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Frank Rimerman Advisors LLC purchased a new stake in shares of AT&T in the 4th quarter worth $25,000. Pineridge Advisors LLC purchased a new stake in AT&T during the fourth quarter worth $25,000. Strategic Financial Concepts LLC grew its position in shares of AT&T by 227.6% during the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after acquiring an additional 91,578 shares during the period. Riggs Asset Managment Co. Inc. increased its position 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 in the last quarter. Finally, American Capital Advisory LLC boosted its holdings in AT&T by 107.5% in the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after buying an additional 807 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

NYSE:T opened at $22.28 on Tuesday. AT&T Inc. has a twelve month low of $14.12 and a twelve month high of $22.34. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. The firm has a market cap of $159.72 billion, a price-to-earnings ratio of 11.98, a price-to-earnings-growth ratio of 3.68 and a beta of 0.59. The company has a 50-day moving average of $19.66 and a 200-day moving average of $18.22.

AT&T (NYSE:T) last posted its earnings results on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, hitting the consensus estimate 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 the consensus estimate of $30.05 billion. During the same period in the previous year, the firm posted $0.63 earnings per share. The company’s revenue for the quarter was down .3% compared to the same quarter last year. Analysts forecast that AT&T Inc. will post 2.2 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were issued a dividend of $0.2775 per share. The ex-dividend date was Wednesday, July 10th. This represents a $1.11 annualized dividend and a yield of 4.98%. AT&T’s dividend payout ratio (DPR) is currently 59.68%.

Wall Street Analyst Weigh In

T has been the topic of several research reports. Moffett Nathanson raised their price target on shares of AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Royal Bank of Canada raised their price objective on shares of AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a research note on Thursday, July 25th. The Goldman Sachs Group started coverage on shares of AT&T in a report on Monday, July 1st. They set a “buy” rating and a $22.00 price target for the company. Evercore ISI upped their target price on shares of AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a report on Thursday, July 25th. Finally, UBS Group restated a “buy” rating and set a $24.00 price target on shares of AT&T in a research note on Tuesday, June 18th. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company 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.