Wulff Hansen & CO. Acquires 204,028 Shares of AT&T Inc. (NYSE:T)

Wulff Hansen & CO. lifted its holdings in shares of AT&T Inc. (NYSE:T) by 1,656.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 216,344 shares of the technology company’s stock after acquiring an additional 204,028 shares during the quarter. Wulff Hansen & CO.’s holdings in AT&T were worth $4,134,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in T. Vanguard Group Inc. raised its holdings in AT&T by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 624,994,998 shares of the technology company’s stock valued at $10,999,912,000 after acquiring an additional 2,588,539 shares during the period. Bank of New York Mellon Corp increased its stake in shares of AT&T by 7.4% during the second quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock worth $1,549,375,000 after purchasing an additional 5,592,123 shares during the period. LSV Asset Management lifted its holdings in AT&T by 1.1% during the 2nd quarter. LSV Asset Management now owns 30,092,610 shares of the technology company’s stock worth $575,070,000 after purchasing an additional 315,580 shares during the last quarter. Thornburg Investment Management Inc. lifted its holdings in AT&T by 22.0% during the 2nd quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company’s stock worth $477,528,000 after purchasing an additional 4,511,725 shares during the last quarter. Finally, State of Michigan Retirement System boosted its stake in AT&T by 9.0% in the 2nd quarter. State of Michigan Retirement System now owns 20,072,613 shares of the technology company’s stock valued at $383,588,000 after purchasing an additional 1,662,100 shares during the period. 57.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

T has been the subject of a number of research reports. UBS Group reissued a “buy” rating and set a $24.00 target price on shares of AT&T in a report on Tuesday, June 18th. TD Cowen boosted their price objective 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. The Goldman Sachs Group assumed coverage on shares of AT&T in a research report on Monday, July 1st. They set a “buy” rating and a $22.00 target price on the stock. Evercore ISI lifted their price target on shares of AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a research report on Thursday, July 25th. Finally, Oppenheimer increased their price target on AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, AT&T currently has an average rating of “Moderate Buy” and an average target price of $22.31.

AT&T Trading Up 2.9 %

T opened at $22.28 on Tuesday. The company has a market cap of $159.72 billion, a P/E ratio of 11.98, a PEG ratio of 3.68 and a beta of 0.59. 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 company’s 50 day moving average is $19.66 and its 200-day moving average is $18.22. AT&T Inc. has a 1-year low of $14.12 and a 1-year high of $22.34.

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

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were given a $0.2775 dividend. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $1.11 annualized dividend and a yield of 4.98%. AT&T’s dividend payout ratio is presently 59.68%.

AT&T 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.