Regal Wealth Group Inc. increased its position in AT&T Inc. (NYSE:T) by 28.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,537 shares of the technology company’s stock after acquiring an additional 1,241 shares during the period. Regal Wealth Group Inc.’s holdings in AT&T were worth $167,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Lion Street Advisors LLC bought a new position in AT&T during the 1st quarter valued at about $27,000. Horan Securities Inc. bought a new stake in shares of AT&T in the first quarter worth approximately $28,000. CBIZ Investment Advisory Services LLC raised its holdings in shares of AT&T by 186.0% during the first quarter. CBIZ Investment Advisory Services LLC now owns 958 shares of the technology company’s stock valued at $28,000 after purchasing an additional 623 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new position in AT&T during the first quarter valued at approximately $34,000. Finally, Efficient Wealth Management LLC purchased a new stake in AT&T in the first quarter worth approximately $35,000. 53.84% of the stock is currently owned by institutional investors and hedge funds.
Shares of AT&T stock traded down $1.02 during trading on Thursday, reaching $29.44. 15,119,593 shares of the stock traded hands, compared to its average volume of 39,427,384. The business has a fifty day simple moving average of $30.56 and a two-hundred day simple moving average of $33.52. AT&T Inc. has a 52-week low of $26.08 and a 52-week high of $39.70. The company has a market capitalization of $218.80 billion, a price-to-earnings ratio of 15.23, a P/E/G ratio of 1.72 and a beta of 0.72. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.76 and a quick ratio of 0.76.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 10th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, July 9th. This represents a $2.08 annualized dividend and a yield of 7.07%. AT&T’s dividend payout ratio (DPR) is currently 58.26%.
Several research firms have recently weighed in on T. UBS Group lowered their price target on AT&T from $26.00 to $24.00 and set a “neutral” rating on the stock in a report on Monday, April 20th. Nomura lowered their target price on AT&T from $39.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, April 22nd. Robert W. Baird lowered shares of AT&T from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $41.00 to $33.00 in a research report on Monday, March 23rd. Cfra dropped their price objective on shares of AT&T from $42.00 to $37.00 and set a “buy” rating on the stock in a report on Thursday, April 23rd. Finally, Argus restated a “buy” rating on shares of AT&T in a research report on Friday, March 27th. Four investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eleven have given a buy rating to the stock. AT&T currently has a consensus rating of “Hold” and an average price target of $35.94.
In related news, Director Stephen J. Luczo bought 36,000 shares of the stock in a transaction on Wednesday, April 22nd. The stock was bought at an average price of $29.38 per share, for a total transaction of $1,057,680.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Geoffrey Y. Yang acquired 6,754 shares of the business’s stock in a transaction dated Friday, April 24th. The stock was purchased at an average cost of $29.39 per share, for a total transaction of $198,500.06. Following the transaction, the director now owns 9,398 shares in the company, valued at $276,207.22. The disclosure for this purchase can be found here. Company insiders own 0.07% of the company’s stock.
AT&T Company Profile
AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.
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