AT&T Inc. (NYSE:T) Shares Purchased by Bridges Investment Management Inc.

Bridges Investment Management Inc. increased its position in shares of AT&T Inc. (NYSE:T) by 1.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,764 shares of the technology company’s stock after acquiring an additional 621 shares during the period. Bridges Investment Management Inc.’s holdings in AT&T were worth $798,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Canada Pension Plan Investment Board increased its stake in AT&T by 110.3% in the 2nd quarter. Canada Pension Plan Investment Board now owns 6,155,046 shares of the technology company’s stock worth $117,623,000 after purchasing an additional 3,228,888 shares in the last quarter. Joseph Group Capital Management increased its stake in AT&T by 11.8% in the 2nd quarter. Joseph Group Capital Management now owns 178,985 shares of the technology company’s stock worth $3,420,000 after purchasing an additional 18,888 shares in the last quarter. Wealth Advisors of Tampa Bay LLC increased its stake in AT&T by 5.7% in the 2nd quarter. Wealth Advisors of Tampa Bay LLC now owns 190,890 shares of the technology company’s stock worth $3,648,000 after purchasing an additional 10,240 shares in the last quarter. Trust Investment Advisors increased its stake in AT&T by 51.4% in the 2nd quarter. Trust Investment Advisors now owns 48,856 shares of the technology company’s stock worth $934,000 after purchasing an additional 16,585 shares in the last quarter. Finally, Ieq Capital LLC increased its stake in AT&T by 30.9% in the 2nd quarter. Ieq Capital LLC now owns 317,047 shares of the technology company’s stock worth $6,059,000 after purchasing an additional 74,764 shares in the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Stock Up 0.8 %

Shares of T stock opened at $21.54 on Friday. AT&T Inc. has a 12 month low of $14.12 and a 12 month high of $22.34. 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. The stock has a 50 day moving average of $19.88 and a 200-day moving average 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.

AT&T (NYSE:T) last issued its earnings results on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, meeting analysts’ consensus estimates of $0.57. The business had revenue of $29.80 billion during the quarter, compared to analyst estimates of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. AT&T’s revenue was down .3% on a year-over-year basis. During the same period in the prior year, the company posted $0.63 earnings per share. On average, equities analysts predict 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 was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were paid a $0.2775 dividend. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.15%. AT&T’s payout ratio is 59.68%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on T. UBS Group reissued a “buy” rating and issued a $24.00 price target on shares of AT&T in a research note on Tuesday, June 18th. Scotiabank lowered AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Barclays lifted their price target on AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Citigroup lifted their price target on AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Finally, BNP Paribas upgraded AT&T from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 11th. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus 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.