Private Advisor Group LLC Has $17.99 Million Position in AT&T Inc. (T)

Private Advisor Group LLC boosted its position in shares of AT&T Inc. (NYSE:T) by 73.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 558,753 shares of the technology company’s stock after purchasing an additional 236,847 shares during the period. AT&T comprises 0.3% of Private Advisor Group LLC’s holdings, making the stock its 22nd biggest holding. Private Advisor Group LLC’s holdings in AT&T were worth $17,985,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Price Wealth Management Inc. grew its stake in AT&T by 165.1% in the 2nd quarter. Price Wealth Management Inc. now owns 3,314 shares of the technology company’s stock worth $106,000 after acquiring an additional 2,064 shares in the last quarter. CKW Financial Group grew its stake in AT&T by 105.0% in the 2nd quarter. CKW Financial Group now owns 4,215 shares of the technology company’s stock worth $135,000 after acquiring an additional 2,159 shares in the last quarter. Braun Bostich & Associates Inc. bought a new position in AT&T in the 1st quarter worth about $137,000. Elmwood Wealth Management Inc. purchased a new stake in shares of AT&T in the 1st quarter worth approximately $178,000. Finally, Cerebellum GP LLC purchased a new stake in shares of AT&T in the 2nd quarter worth approximately $178,000. Institutional investors own 63.84% of the company’s stock.

In other news, Director Michael B. Mccallister bought 4,000 shares of the firm’s stock in a transaction that occurred on Friday, October 26th. The stock was bought at an average price of $29.14 per share, with a total value of $116,560.00. Following the completion of the transaction, the director now directly owns 7,361 shares of the company’s stock, valued at approximately $214,499.54. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.09% of the company’s stock.

NYSE:T opened at $29.36 on Friday. AT&T Inc. has a 52 week low of $28.85 and a 52 week high of $39.33. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market cap of $182.76 billion, a P/E ratio of 9.63, a PEG ratio of 2.38 and a beta of 0.42.

AT&T (NYSE:T) last posted its earnings results on Wednesday, October 24th. The technology company reported $0.90 EPS for the quarter, missing the Zacks’ consensus estimate of $0.94 by ($0.04). AT&T had a net margin of 20.40% and a return on equity of 13.61%. The firm had revenue of $45.74 billion for the quarter, compared to analysts’ expectations of $45.73 billion. During the same period in the previous year, the company earned $0.74 EPS. The company’s revenue was up 15.3% on a year-over-year basis. As a group, equities analysts anticipate that AT&T Inc. will post 3.51 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, November 1st. Investors of record on Wednesday, October 10th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, October 9th. This represents a $2.00 dividend on an annualized basis and a yield of 6.81%. AT&T’s payout ratio is 65.57%.

Several equities research analysts have recently weighed in on the stock. Bank of America set a $37.00 price target on shares of AT&T and gave the stock a “buy” rating in a research report on Monday, November 19th. Argus reaffirmed a “buy” rating and issued a $48.00 price target on shares of AT&T in a research report on Friday, October 26th. Robert W. Baird lowered their price target on shares of AT&T from $38.00 to $35.00 and set an “outperform” rating for the company in a research report on Thursday, October 25th. Scotiabank set a $32.00 price target on shares of AT&T and gave the stock a “hold” rating in a research report on Thursday, October 25th. Finally, Tigress Financial raised shares of AT&T from a “neutral” rating to a “buy” rating in a research report on Monday, October 22nd. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $36.35.

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AT&T Profile

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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