AT&T Inc. (NYSE:T) Shares Purchased by New Century Financial Group LLC

New Century Financial Group LLC boosted its position in shares of AT&T Inc. (NYSE:T) by 6.9% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 64,631 shares of the technology company’s stock after acquiring an additional 4,179 shares during the quarter. New Century Financial Group LLC’s holdings in AT&T were worth $1,235,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Riggs Asset Managment Co. Inc. raised its holdings in shares of AT&T by 356.5% during the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after purchasing an additional 1,116 shares during the last quarter. Pineridge Advisors LLC purchased a new position in shares of AT&T during the 4th quarter valued at about $25,000. Frank Rimerman Advisors LLC acquired a new position in shares of AT&T in the 4th quarter valued at about $25,000. American Capital Advisory LLC boosted its stake in shares of 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 buying an additional 807 shares during the last quarter. Finally, Altshuler Shaham Ltd purchased a new stake in shares of AT&T in the second quarter worth about $30,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. 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. Moffett Nathanson increased their price target on shares of AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Barclays upped their price objective on shares of AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Redburn Atlantic upgraded AT&T to a “strong sell” rating in a research report on Monday, September 16th. Finally, UBS Group reaffirmed a “buy” rating and issued a $24.00 price target on shares of AT&T in a report on Tuesday, June 18th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $22.38.

AT&T Stock Up 0.4 %

T stock opened at $21.99 on Tuesday. 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 50-day moving average of $20.21 and a two-hundred day moving average of $18.54. AT&T Inc. has a 12 month low of $14.12 and a 12 month high of $22.34. The company has a market cap of $157.64 billion, a price-to-earnings ratio of 11.82, a PEG ratio of 3.68 and a beta of 0.59.

AT&T (NYSE:T) last posted 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 firm had revenue of $29.80 billion during the quarter, compared to analysts’ expectations of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The business’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter last year, the firm earned $0.63 earnings per share. As a group, analysts forecast that AT&T Inc. will post 2.2 earnings per share for the current fiscal year.

AT&T Announces Dividend

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

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.