Moors & Cabot Inc. Buys 7,250 Shares of AT&T Inc. (NYSE:T)

Moors & Cabot Inc. lifted its stake in AT&T Inc. (NYSE:T) by 3.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 192,774 shares of the technology company’s stock after acquiring an additional 7,250 shares during the period. Moors & Cabot Inc.’s holdings in AT&T were worth $3,684,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Frank Rimerman Advisors LLC bought a new position in shares of AT&T in the 4th quarter valued at approximately $25,000. Pineridge Advisors LLC bought a new position in shares of AT&T in the 4th quarter valued at approximately $25,000. Strategic Financial Concepts LLC raised its stake in shares of AT&T by 227.6% in 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 in the last quarter. Riggs Asset Managment Co. Inc. raised its stake in shares of AT&T by 356.5% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after acquiring an additional 1,116 shares in the last quarter. Finally, American Capital Advisory LLC raised its stake in shares of AT&T by 107.5% in the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after acquiring an additional 807 shares in the last quarter. 57.10% of the stock is owned by institutional investors.

AT&T Price Performance

Shares of NYSE:T opened at $22.28 on Tuesday. The business’s 50 day moving average is $19.66 and its 200-day moving average is $18.22. 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 capitalization of $159.72 billion, a PE ratio of 11.98, a PEG ratio of 3.68 and a beta of 0.59. AT&T Inc. has a 1-year low of $14.12 and a 1-year high of $22.34.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, meeting the consensus estimate of $0.57. The business had revenue of $29.80 billion for the quarter, compared to analyst estimates of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. AT&T’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.63 EPS. Sell-side analysts predict that AT&T Inc. will post 2.2 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 4.98%. The ex-dividend date was Wednesday, July 10th. AT&T’s dividend payout ratio is 59.68%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Evercore ISI raised their target price on AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a report on Thursday, July 25th. Citigroup raised their target price on AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. TD Cowen raised their target price on AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Moffett Nathanson raised their target price on AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Finally, UBS Group reaffirmed a “buy” rating and issued a $24.00 target price on shares of AT&T in a report on Tuesday, June 18th. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.