Beach Investment Counsel Inc. PA Increases Position in AT&T Inc. (T)

Beach Investment Counsel Inc. PA boosted its stake in AT&T Inc. (NYSE:T) by 184.0% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 85,234 shares of the technology company’s stock after buying an additional 55,226 shares during the period. Beach Investment Counsel Inc. PA’s holdings in AT&T were worth $2,737,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in T. Earnest Partners LLC acquired a new position in shares of AT&T during the 4th quarter worth approximately $113,000. Braun Bostich & Associates Inc. acquired a new position in shares of AT&T during the 1st quarter worth approximately $137,000. CKW Financial Group grew its position in shares of AT&T by 105.0% during the 2nd quarter. CKW Financial Group now owns 4,215 shares of the technology company’s stock worth $135,000 after purchasing an additional 2,159 shares in the last quarter. Elmwood Wealth Management Inc. acquired a new position in shares of AT&T during the 1st quarter worth approximately $178,000. Finally, Kendall Capital Management acquired a new position in shares of AT&T during the 4th quarter worth approximately $203,000. Institutional investors and hedge funds own 64.63% of the company’s stock.

T has been the topic of a number of analyst reports. ValuEngine upgraded shares of AT&T from a “strong sell” rating to a “sell” rating in a research report on Wednesday, September 12th. Moffett Nathanson lowered shares of AT&T from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $35.00 to $28.00 in a research report on Wednesday, June 13th. Morgan Stanley reiterated an “overweight” rating and set a $37.00 price target on shares of AT&T in a research report on Wednesday, June 27th. Zacks Investment Research upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a research report on Tuesday, July 24th. Finally, JPMorgan Chase & Co. started coverage on shares of AT&T in a research report on Tuesday, June 19th. They set a “neutral” rating and a $36.00 price target on the stock. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $38.09.

In related news, Director Matthew K. Rose acquired 65,500 shares of the company’s stock in a transaction that occurred on Thursday, July 26th. The stock was acquired at an average price of $30.51 per share, with a total value of $1,998,405.00. Following the purchase, the director now directly owns 81,319 shares in the company, valued at $2,481,042.69. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Piazza Samuel A. Jr. Di purchased 7,690 shares of the company’s stock in a transaction dated Wednesday, August 8th. The shares were acquired at an average cost of $32.48 per share, with a total value of $249,771.20. Following the purchase, the director now directly owns 31,405 shares of the company’s stock, valued at approximately $1,020,034.40. The disclosure for this purchase can be found here. 0.09% of the stock is owned by corporate insiders.

Shares of NYSE:T opened at $33.99 on Monday. The company has a market capitalization of $206.15 billion, a P/E ratio of 11.14, a P/E/G ratio of 2.67 and a beta of 0.39. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.92. AT&T Inc. has a one year low of $30.13 and a one year high of $39.33.

AT&T (NYSE:T) last issued its quarterly earnings data on Tuesday, July 24th. The technology company reported $0.91 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.06. The business had revenue of $38.99 billion during the quarter, compared to the consensus estimate of $38.45 billion. AT&T had a net margin of 20.12% and a return on equity of 13.64%. The firm’s revenue was down 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.79 EPS. On average, research analysts forecast that AT&T Inc. will post 3.52 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 1st. Investors of record on Wednesday, October 10th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 5.88%. The ex-dividend date is Tuesday, October 9th. AT&T’s payout ratio is 65.57%.

About AT&T

AT&T Inc provides communications and digital entertainment services. The company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility, and International. The Business Solutions segment offers wireless services, strategic services, legacy voice, data services, wireless equipment, and other services to multinational companies, governmental and wholesale customers, and individual subscribers.

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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