Sei Investments Co. Grows Stake in AT&T Inc. (NYSE:T)

Sei Investments Co. boosted its position in shares of AT&T Inc. (NYSE:T) by 7.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,876,014 shares of the technology company’s stock after acquiring an additional 202,159 shares during the quarter. Sei Investments Co.’s holdings in AT&T were worth $54,961,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Frank Rimerman Advisors LLC purchased a new position in AT&T during the fourth quarter valued at $25,000. Pineridge Advisors LLC purchased a new stake in AT&T in the fourth quarter worth about $25,000. Strategic Financial Concepts LLC raised its stake in shares of AT&T by 227.6% in the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $25,000 after buying an additional 91,578 shares during the period. Riggs Asset Managment Co. Inc. lifted its position in shares of AT&T by 356.5% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after buying an additional 1,116 shares in the last quarter. Finally, American Capital Advisory LLC grew its stake in shares of AT&T by 107.5% during the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after acquiring an additional 807 shares during the period. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 0.8 %

Shares of NYSE T opened at $21.54 on Monday. 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. The firm’s 50-day moving average price is $19.88 and its 200-day moving average price is $18.35. The stock has a market capitalization of $154.45 billion, a price-to-earnings ratio of 11.58, a P/E/G ratio of 3.79 and a beta of 0.59.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, meeting the consensus estimate 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%. The company’s revenue for the quarter was down .3% on a year-over-year basis. During the same period last year, the company earned $0.63 EPS. On average, equities research analysts anticipate that AT&T Inc. will post 2.2 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were issued a $0.2775 dividend. The ex-dividend date was Wednesday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.15%. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

Analyst Ratings Changes

A number of research firms have commented on T. Citigroup raised their target price on shares of AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Royal Bank of Canada lifted their target price on shares of AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. increased their price target on AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. The Goldman Sachs Group began coverage on AT&T in a research report on Monday, July 1st. They issued a “buy” rating and a $22.00 price objective on the stock. Finally, Evercore ISI upped their price objective 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. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, AT&T presently has an average rating of “Hold” and an average price target of $22.31.

AT&T 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.