Impax Asset Management Group plc Buys New Shares in AT&T Inc. $T

Impax Asset Management Group plc purchased a new position in shares of AT&T Inc. (NYSE:T) in the second quarter, according to its most recent filing with the SEC. The firm purchased 35,712 shares of the technology company’s stock, valued at approximately $1,034,000.

Other hedge funds have also recently made changes to their positions in the company. Stone House Investment Management LLC acquired a new stake in AT&T during the first quarter worth approximately $25,000. O Brien Wealth Partners LLC bought a new position in shares of AT&T during the 2nd quarter worth approximately $26,000. Solstein Capital LLC grew its position in shares of AT&T by 217.3% during the 2nd quarter. Solstein Capital LLC now owns 952 shares of the technology company’s stock worth $28,000 after buying an additional 652 shares during the period. Kennebec Savings Bank grew its position in shares of AT&T by 412.1% during the 2nd quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock worth $28,000 after buying an additional 783 shares during the period. Finally, IMA Advisory Services Inc. bought a new stake in shares of AT&T in the 1st quarter valued at $29,000. 57.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on T. Barclays cut their target price on shares of AT&T from $30.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 23rd. TD Cowen boosted their price target on shares of AT&T from $32.00 to $33.00 and gave the company a “hold” rating in a research note on Thursday, October 23rd. Cowen restated a “hold” rating on shares of AT&T in a report on Thursday, October 23rd. Sanford C. Bernstein lifted their price objective on shares of AT&T from $31.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, September 4th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and issued a $33.00 price target (up previously from $31.00) on shares of AT&T in a research report on Thursday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $30.64.

AT&T Stock Down 0.7%

AT&T stock opened at $25.58 on Friday. AT&T Inc. has a fifty-two week low of $21.38 and a fifty-two week high of $29.79. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.96 and a current ratio of 1.01. The firm’s 50-day simple moving average is $26.75 and its 200 day simple moving average is $27.56. The stock has a market cap of $181.31 billion, a PE ratio of 8.30, a price-to-earnings-growth ratio of 2.16 and a beta of 0.40.

AT&T (NYSE:T) last posted its earnings results on Wednesday, October 22nd. The technology company reported $0.54 EPS for the quarter, hitting the consensus estimate of $0.54. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The firm had revenue of $30.71 billion for the quarter, compared to analysts’ expectations of $30.85 billion. During the same quarter last year, the firm earned $0.60 EPS. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. Research analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Friday, October 10th were given a $0.2775 dividend. The ex-dividend date of this dividend was Friday, October 10th. This represents a $1.11 annualized dividend and a yield of 4.3%. AT&T’s payout ratio is currently 36.04%.

About AT&T

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.