Frank Rimerman Advisors LLC Buys 150,704 Shares of AT&T Inc. (NYSE:T)

Frank Rimerman Advisors LLC boosted its position in shares of AT&T Inc. (NYSE:T) by 9,940.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 152,220 shares of the technology company’s stock after buying an additional 150,704 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in AT&T were worth $2,909,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of T. Riggs Asset Managment Co. Inc. raised 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 worth $27,000 after buying an additional 1,116 shares during the period. Pineridge Advisors LLC bought a new position in AT&T in the 4th quarter valued at $25,000. American Capital Advisory LLC increased its stake in AT&T by 107.5% in the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after purchasing an additional 807 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its position in shares of AT&T by 176.6% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock worth $35,000 after purchasing an additional 1,192 shares during the last quarter. Finally, HighMark Wealth Management LLC boosted its stake in shares of AT&T by 58.2% during the first quarter. HighMark Wealth Management LLC now owns 2,204 shares of the technology company’s stock valued at $41,000 after purchasing an additional 811 shares during the period. Institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on T shares. 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. Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a research report on Monday, September 16th. TD Cowen boosted their price target on AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Scotiabank downgraded AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, The Goldman Sachs Group started coverage on AT&T in a research report on Monday, July 1st. They set a “buy” rating and a $22.00 target price for the company. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, AT&T has an average rating of “Hold” and an average price target of $22.31.

AT&T Trading Up 0.8 %

NYSE T opened at $21.54 on Friday. AT&T Inc. has a 52 week low of $14.12 and a 52 week high of $22.34. The company has a 50 day moving average price of $19.88 and a 200 day moving average price of $18.34. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. The firm has a market cap of $154.45 billion, a PE ratio of 11.58, a price-to-earnings-growth ratio of 3.79 and a beta of 0.59.

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

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 5.15%. 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.