Bruce & Co. Inc. Has $18.80 Million Stock Holdings in AT&T Inc. (NYSE:T)

Bruce & Co. Inc. boosted its holdings in shares of AT&T Inc. (NYSE:T) by 2.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 984,000 shares of the technology company’s stock after acquiring an additional 23,000 shares during the period. AT&T makes up approximately 6.2% of Bruce & Co. Inc.’s investment portfolio, making the stock its 8th largest holding. Bruce & Co. Inc.’s holdings in AT&T were worth $18,804,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Cantor Fitzgerald Investment Advisors L.P. acquired a new position in AT&T in the 4th quarter worth $11,554,000. Clearbridge Investments LLC grew its holdings in shares of AT&T by 250.3% during the fourth quarter. Clearbridge Investments LLC now owns 67,303 shares of the technology company’s stock worth $1,129,000 after buying an additional 48,091 shares in the last quarter. Skopos Labs Inc. acquired a new stake in AT&T in the 4th quarter valued at approximately $839,000. Wealth Enhancement Advisory Services LLC lifted its stake in AT&T by 4.3% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 1,037,529 shares of the technology company’s stock valued at $19,827,000 after acquiring an additional 43,062 shares in the last quarter. Finally, M&G Plc acquired a new position in AT&T during the 1st quarter worth approximately $9,074,000. 57.10% of the stock is currently owned by institutional investors.

AT&T Price Performance

Shares of T opened at $21.64 on Monday. The company’s 50-day moving average is $19.59 and its 200-day moving average is $18.19. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. The firm has a market capitalization of $155.16 billion, a PE ratio of 11.63, a PEG ratio of 3.68 and a beta of 0.59. AT&T Inc. has a fifty-two week low of $14.12 and a fifty-two week high of $21.86.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share 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 firm had revenue of $29.80 billion for the quarter, compared to analysts’ expectations of $30.05 billion. During the same period in the prior year, the firm earned $0.63 EPS. The business’s revenue was down .3% on a year-over-year basis. Equities analysts forecast that AT&T Inc. will post 2.2 EPS 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 paid a $0.2775 dividend. The ex-dividend date was Wednesday, July 10th. This represents a $1.11 annualized dividend and a yield of 5.13%. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

Analyst Ratings Changes

A number of analysts have recently issued reports on T shares. Barclays lifted their price objective on shares of AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Moffett Nathanson boosted their price target on shares of AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Evercore ISI increased their price objective on shares of AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a research note on Thursday, July 25th. Royal Bank of Canada lifted their target price on AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a research report on Thursday, July 25th. Finally, Citigroup increased their price target on AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $22.31.

AT&T 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.