4,373 Shares in AT&T Inc. (NYSE:T) Acquired by Kimelman & Baird LLC

Kimelman & Baird LLC acquired a new stake in AT&T Inc. (NYSE:T) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 4,373 shares of the technology company’s stock, valued at approximately $84,000.

Several other large investors have also recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV lifted its position in shares of AT&T by 1,379.0% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 14,159,133 shares of the technology company’s stock valued at $270,581,000 after acquiring an additional 13,201,774 shares during the period. AQR Capital Management LLC lifted its position in AT&T by 43.3% during the second quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock worth $414,563,000 after purchasing an additional 6,602,586 shares during the period. Bank of New York Mellon Corp grew its stake in 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 buying an additional 5,592,123 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in AT&T by 120.8% in the 4th quarter. Point72 Asset Management L.P. now owns 9,086,854 shares of the technology company’s stock valued at $152,477,000 after buying an additional 4,970,954 shares during the period. Finally, Thornburg Investment Management Inc. raised its position in shares of AT&T by 22.0% in the 2nd quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company’s stock valued at $477,528,000 after buying an additional 4,511,725 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Trading Up 0.4 %

NYSE T opened at $21.99 on Tuesday. The firm has a market capitalization of $157.64 billion, a PE ratio of 11.82, a price-to-earnings-growth ratio of 3.68 and a beta of 0.59. The business’s 50-day moving average price is $20.21 and its two-hundred day moving average price is $18.54. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. AT&T Inc. has a 12 month low of $14.12 and a 12 month high of $22.34.

AT&T (NYSE:T) last released 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 business had revenue of $29.80 billion during the quarter, compared to the consensus estimate of $30.05 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The company’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.63 EPS. On average, analysts expect that AT&T Inc. will post 2.2 EPS for the current year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be issued a $0.2775 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.11 annualized dividend and a yield of 5.05%. AT&T’s payout ratio is 59.68%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on T. Barclays lifted their price objective on shares of AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. UBS Group reissued a “buy” rating and set a $24.00 price target on shares of AT&T in a report on Tuesday, June 18th. Citigroup upped their price objective on AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. TD Cowen raised their price target on shares of AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Finally, Tigress Financial upped their price objective on shares of AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $22.38.

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.