AT&T Inc. (NYSE:T) Shares Acquired by Bank of Montreal Can

Bank of Montreal Can increased its position in shares of AT&T Inc. (NYSE:T) by 4.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 16,785,828 shares of the technology company’s stock after purchasing an additional 640,905 shares during the quarter. Bank of Montreal Can owned 0.23% of AT&T worth $320,777,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Evergreen Capital Management LLC increased its stake in shares of AT&T by 6.6% during the 2nd quarter. Evergreen Capital Management LLC now owns 109,817 shares of the technology company’s stock worth $2,099,000 after purchasing an additional 6,810 shares in the last quarter. Public Sector Pension Investment Board grew its holdings in AT&T by 1,901.0% during the 2nd quarter. Public Sector Pension Investment Board now owns 3,166,814 shares of the technology company’s stock valued at $60,518,000 after buying an additional 3,008,549 shares during the last quarter. Altshuler Shaham Ltd purchased a new position in AT&T during the second quarter worth $30,000. Certified Advisory Corp raised its holdings in shares of AT&T by 1.9% in the second quarter. Certified Advisory Corp now owns 29,367 shares of the technology company’s stock worth $561,000 after acquiring an additional 548 shares during the last quarter. Finally, Cyrus J. Lawrence LLC lifted its position in shares of AT&T by 76.6% in the second quarter. Cyrus J. Lawrence LLC now owns 2,306 shares of the technology company’s stock valued at $44,000 after acquiring an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

T stock opened at $21.54 on Monday. The stock’s 50 day moving average is $19.88 and its two-hundred day moving average is $18.35. AT&T Inc. has a 52-week low of $14.12 and a 52-week high of $22.34. The company has a market capitalization of $154.45 billion, a PE ratio of 11.58, a P/E/G ratio of 3.79 and a beta of 0.59. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05.

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. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The business had revenue of $29.80 billion during the quarter, compared to analyst estimates of $30.05 billion. During the same quarter in the previous year, the firm earned $0.63 earnings per share. The business’s revenue was down .3% compared to the same quarter last year. Analysts predict that AT&T Inc. will post 2.2 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were given a dividend of $0.2775 per share. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.15%. AT&T’s payout ratio is 59.68%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on T. Oppenheimer lifted their price objective on AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, June 28th. JPMorgan Chase & Co. lifted their target price on shares of AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Evercore ISI increased their price target on AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a research note on Thursday, July 25th. Finally, Scotiabank downgraded AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” 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.