HBK Sorce Advisory LLC Purchases 8,729 Shares of AT&T Inc. (NYSE:T)

HBK Sorce Advisory LLC increased its position in shares of AT&T Inc. (NYSE:T) by 3.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 243,160 shares of the technology company’s stock after acquiring an additional 8,729 shares during the quarter. HBK Sorce Advisory LLC’s holdings in AT&T were worth $4,647,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of T. Vantage Financial Partners LLC raised its position in shares of AT&T by 25.5% in the 4th quarter. Vantage Financial Partners LLC now owns 38,207 shares of the technology company’s stock valued at $641,000 after purchasing an additional 7,762 shares during the last quarter. Gilbert & Cook Inc. grew its holdings in shares of AT&T by 4.1% during the fourth quarter. Gilbert & Cook Inc. now owns 31,130 shares of the technology company’s stock valued at $522,000 after buying an additional 1,212 shares during the last quarter. Aveo Capital Partners LLC increased its position in shares of AT&T by 4.5% in the 4th quarter. Aveo Capital Partners LLC now owns 27,770 shares of the technology company’s stock valued at $466,000 after acquiring an additional 1,194 shares during the period. Gryphon Financial Partners LLC lifted its position in AT&T by 21.8% during the 4th quarter. Gryphon Financial Partners LLC now owns 27,253 shares of the technology company’s stock worth $477,000 after acquiring an additional 4,870 shares during the period. Finally, Eagle Bay Advisors LLC lifted its position in AT&T by 133.4% during the 4th quarter. Eagle Bay Advisors LLC now owns 3,882 shares of the technology company’s stock worth $65,000 after acquiring an additional 2,219 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

T has been the subject of a number of research reports. Daiwa America raised AT&T to a “hold” rating in a report on Friday, July 26th. Evercore ISI upped their price objective on shares of AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a report on Thursday, July 25th. UBS Group reissued a “buy” rating and set a $24.00 target price on shares of AT&T in a report on Tuesday, June 18th. Moffett Nathanson upped their price target on shares of AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Finally, Citigroup lifted their price objective on AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and an average target price of $22.31.

AT&T Trading Up 0.7 %

Shares of NYSE:T opened at $21.59 on Friday. The firm has a market capitalization of $154.81 billion, a price-to-earnings ratio of 11.61, a price-to-earnings-growth ratio of 3.65 and a beta of 0.59. The business’s 50 day moving average price is $19.53 and its 200-day moving average price is $18.13. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. AT&T Inc. has a 1 year low of $14.12 and a 1 year high of $21.86.

AT&T (NYSE:T) last announced its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The business had revenue of $29.80 billion for the quarter, compared to analyst estimates of $30.05 billion. During the same quarter last year, the business earned $0.63 earnings per share. The company’s revenue for the quarter was down .3% compared to the same quarter last year. On average, equities research analysts forecast that AT&T Inc. will post 2.2 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were issued a $0.2775 dividend. The ex-dividend date was Wednesday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 5.14%. AT&T’s 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.