3Chopt Investment Partners LLC Raises Holdings in AT&T Inc. (NYSE:T)

3Chopt Investment Partners LLC lifted its stake in AT&T Inc. (NYSE:T) by 63.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 41,302 shares of the technology company’s stock after buying an additional 16,030 shares during the quarter. 3Chopt Investment Partners LLC’s holdings in AT&T were worth $789,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Octavia Wealth Advisors LLC lifted its position in AT&T by 2.1% during the second quarter. Octavia Wealth Advisors LLC now owns 25,313 shares of the technology company’s stock worth $484,000 after buying an additional 519 shares in the last quarter. Carolinas Wealth Consulting LLC raised its position in AT&T by 2.3% in the second quarter. Carolinas Wealth Consulting LLC now owns 23,650 shares of the technology company’s stock valued at $452,000 after purchasing an additional 521 shares during the period. WealthCare Investment Partners LLC raised its position in AT&T by 2.2% in the second quarter. WealthCare Investment Partners LLC now owns 24,138 shares of the technology company’s stock valued at $461,000 after purchasing an additional 525 shares during the period. Integral Investment Advisors Inc. raised its position in AT&T by 3.2% in the second quarter. Integral Investment Advisors Inc. now owns 17,177 shares of the technology company’s stock valued at $322,000 after purchasing an additional 538 shares during the period. Finally, Financial Counselors Inc. raised its position in AT&T by 0.6% in the second quarter. Financial Counselors Inc. now owns 92,450 shares of the technology company’s stock valued at $1,767,000 after purchasing an additional 539 shares during the period. Hedge funds and other 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 stock has a 50-day simple moving average of $20.21 and a 200-day simple moving average of $18.54. The stock has a market cap of $157.64 billion, a P/E ratio of 11.82, a P/E/G ratio of 3.68 and a beta of 0.59. AT&T Inc. has a 1 year low of $14.12 and a 1 year high of $22.34. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The business had revenue of $29.80 billion during the quarter, compared to analysts’ expectations of $30.05 billion. During the same period in the prior year, the firm posted $0.63 EPS. The business’s quarterly revenue was down .3% compared to the same quarter last year. As a group, analysts anticipate that AT&T Inc. will post 2.2 earnings per share for the current fiscal year.

AT&T Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on T shares. TD Cowen lifted their target price on AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft lifted their target price on AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Moffett Nathanson lifted their target price on AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Daiwa America raised AT&T to a “hold” rating in a research note on Friday, July 26th. Finally, BNP Paribas raised AT&T from an “underperform” rating to a “neutral” rating in a research note on Tuesday, June 11th. 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’s stock. According to MarketBeat.com, AT&T has an average rating of “Hold” and an average price target of $22.38.

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.