AT&T Inc. (NYSE:T) Shares Acquired by New York Life Investment Management LLC

New York Life Investment Management LLC increased its stake in shares of AT&T Inc. (NYSE:T) by 0.7% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 986,766 shares of the technology company’s stock after purchasing an additional 7,091 shares during the period. New York Life Investment Management LLC’s holdings in AT&T were worth $18,857,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Addison Advisors LLC boosted its holdings in AT&T by 16.8% during the 2nd quarter. Addison Advisors LLC now owns 8,002 shares of the technology company’s stock valued at $153,000 after acquiring an additional 1,152 shares during the period. Wellington Shields Capital Management LLC boosted its stake in shares of AT&T by 6.3% in the second quarter. Wellington Shields Capital Management LLC now owns 40,608 shares of the technology company’s stock valued at $776,000 after purchasing an additional 2,416 shares during the period. Hourglass Capital LLC grew its holdings in shares of AT&T by 0.6% in the second quarter. Hourglass Capital LLC now owns 182,780 shares of the technology company’s stock valued at $3,493,000 after purchasing an additional 1,100 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of AT&T by 1.1% in the second quarter. Arizona State Retirement System now owns 2,073,637 shares of the technology company’s stock valued at $39,627,000 after purchasing an additional 21,822 shares in the last quarter. Finally, VELA Investment Management LLC purchased a new stake in AT&T during the 2nd quarter worth approximately $2,113,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on T. Royal Bank of Canada lifted their price objective on AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a research note on Thursday, July 25th. Scotiabank downgraded shares of AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, June 28th. JPMorgan Chase & Co. raised their price objective on shares of AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Finally, TD Cowen boosted their target price on shares of AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $22.06.

AT&T Stock Up 1.6 %

Shares of NYSE:T opened at $20.99 on Friday. AT&T Inc. has a fifty-two week low of $14.12 and a fifty-two week high of $21.00. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. The firm’s 50-day simple moving average is $19.31 and its 200-day simple moving average is $18.00. The company has a market cap of $150.47 billion, a price-to-earnings ratio of 11.28, a PEG ratio of 3.36 and a beta of 0.59.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, meeting the consensus estimate of $0.57. The business had revenue of $29.80 billion during the quarter, compared to analysts’ expectations of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The company’s quarterly revenue was down .3% compared to the same quarter last year. During the same period last year, the firm earned $0.63 EPS. As a group, equities research analysts predict that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.29%. The ex-dividend date of this dividend was Wednesday, July 10th. AT&T’s dividend payout ratio is currently 59.68%.

AT&T Company 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.