Diversified Trust Co Acquires 2,723 Shares of AT&T Inc. (NYSE:T)

Diversified Trust Co increased its holdings in AT&T Inc. (NYSE:T) by 1.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 149,972 shares of the technology company’s stock after purchasing an additional 2,723 shares during the period. Diversified Trust Co’s holdings in AT&T were worth $2,866,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of T. Pineridge Advisors LLC bought a new stake in shares of AT&T during the 4th quarter worth $25,000. Frank Rimerman Advisors LLC acquired a new position in AT&T during the 4th quarter worth $25,000. First Pacific Financial boosted its holdings in AT&T by 166.7% during the first quarter. First Pacific Financial now owns 1,600 shares of the technology company’s stock valued at $28,000 after acquiring an additional 1,000 shares during the period. HighMark Wealth Management LLC grew its position in shares of AT&T by 58.2% in the first quarter. HighMark Wealth Management LLC now owns 2,204 shares of the technology company’s stock valued at $41,000 after purchasing an additional 811 shares during the last quarter. Finally, ESL Trust Services LLC bought a new position in shares of AT&T in the first quarter worth about $39,000. 57.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

T has been the topic of a number of research reports. 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 report on Thursday, July 25th. Royal Bank of Canada boosted their price objective on shares of AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a report on Thursday, July 25th. Daiwa America upgraded shares of AT&T to a “hold” rating in a research note on Friday, July 26th. UBS Group reissued a “buy” rating and set a $24.00 target price on shares of AT&T in a research report on Tuesday, June 18th. Finally, Barclays upped their price target on AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, AT&T currently has an average rating of “Moderate Buy” and a consensus price target of $22.33.

AT&T Price Performance

Shares of AT&T stock traded up $0.02 during midday trading on Wednesday, reaching $19.54. The company had a trading volume of 1,495,939 shares, compared to its average volume of 36,305,664. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. The stock has a fifty day simple moving average of $18.71 and a 200 day simple moving average of $17.69. AT&T Inc. has a 1-year low of $13.92 and a 1-year high of $19.99. The company has a market capitalization of $140.11 billion, a price-to-earnings ratio of 10.49, a price-to-earnings-growth ratio of 3.28 and a beta of 0.58.

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

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were paid a $0.2775 dividend. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.68%. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

About AT&T

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.