III Capital Management Acquires Shares of 30,000 AT&T Inc. $T

III Capital Management bought a new position in shares of AT&T Inc. (NYSE:T) in the second quarter, HoldingsChannel reports. The institutional investor bought 30,000 shares of the technology company’s stock, valued at approximately $868,000.

Other large investors have also made changes to their positions in the company. Denali Advisors LLC boosted its position in shares of AT&T by 5.9% during the second quarter. Denali Advisors LLC now owns 401,037 shares of the technology company’s stock worth $11,606,000 after purchasing an additional 22,394 shares in the last quarter. Tredje AP fonden increased its position in shares of AT&T by 1.8% in the 2nd quarter. Tredje AP fonden now owns 1,221,395 shares of the technology company’s stock valued at $35,347,000 after buying an additional 21,720 shares in the last quarter. CHURCHILL MANAGEMENT Corp raised its stake in AT&T by 1.5% during the 2nd quarter. CHURCHILL MANAGEMENT Corp now owns 324,104 shares of the technology company’s stock worth $9,380,000 after buying an additional 4,793 shares during the period. Kickstand Ventures LLC. bought a new position in AT&T during the second quarter worth about $489,000. Finally, Sentry Investment Management LLC grew its stake in AT&T by 153.2% in the second quarter. Sentry Investment Management LLC now owns 22,095 shares of the technology company’s stock valued at $625,000 after acquiring an additional 13,370 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Williams Trading set a $33.00 price target on AT&T in a research report on Thursday, October 23rd. Citigroup restated a “buy” rating on shares of AT&T in a report on Tuesday, August 26th. TD Cowen lifted 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 reissued a “hold” rating on shares of AT&T in a research report on Thursday, October 23rd. Finally, The Goldman Sachs Group began coverage on shares of AT&T in a research report on Tuesday, September 2nd. They issued a “buy” rating and a $32.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and an average price target of $30.55.

AT&T Stock Performance

Shares of T stock opened at $24.57 on Friday. The firm has a market cap of $174.20 billion, a PE ratio of 7.98, a P/E/G ratio of 1.42 and a beta of 0.38. The company’s fifty day simple moving average is $25.41 and its 200-day simple moving average is $27.26. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 1.01. AT&T Inc. has a 12 month low of $21.38 and a 12 month high of $29.79.

AT&T (NYSE:T) last released its earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.54. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The business had revenue of $30.71 billion for the quarter, compared to analyst estimates of $30.85 billion. During the same quarter in the prior year, the company posted $0.60 earnings per share. AT&T’s revenue was up 1.7% on a year-over-year basis. Equities research analysts expect that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Friday, October 10th were issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend was Friday, October 10th. AT&T’s dividend payout ratio is presently 36.04%.

AT&T Company Profile

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.