Quadrant Private Wealth Management LLC Purchases 8,422 Shares of AT&T Inc. (T)

Quadrant Private Wealth Management LLC boosted its position in AT&T Inc. (NYSE:T) by 49.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 25,592 shares of the technology company’s stock after purchasing an additional 8,422 shares during the quarter. AT&T makes up approximately 0.8% of Quadrant Private Wealth Management LLC’s investment portfolio, making the stock its 29th largest holding. Quadrant Private Wealth Management LLC’s holdings in AT&T were worth $822,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Guardian Investment Management boosted its position in AT&T by 8.4% in the second quarter. Guardian Investment Management now owns 143,209 shares of the technology company’s stock valued at $4,598,000 after buying an additional 11,054 shares during the last quarter. Ironsides Asset Advisors LLC boosted its position in AT&T by 450.8% in the second quarter. Ironsides Asset Advisors LLC now owns 54,043 shares of the technology company’s stock valued at $1,735,000 after buying an additional 44,231 shares during the last quarter. Whittier Trust Co. boosted its position in AT&T by 9.5% in the second quarter. Whittier Trust Co. now owns 462,757 shares of the technology company’s stock valued at $14,859,000 after buying an additional 40,293 shares during the last quarter. BP PLC boosted its position in AT&T by 30.5% in the second quarter. BP PLC now owns 914,826 shares of the technology company’s stock valued at $29,375,000 after buying an additional 213,826 shares during the last quarter. Finally, AdvisorNet Financial Inc boosted its position in AT&T by 14.1% in the second quarter. AdvisorNet Financial Inc now owns 50,507 shares of the technology company’s stock valued at $1,622,000 after buying an additional 6,247 shares during the last quarter. Institutional investors and hedge funds own 64.77% of the company’s stock.

AT&T stock opened at $30.52 on Friday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.81 and a current ratio of 0.81. AT&T Inc. has a 12 month low of $28.85 and a 12 month high of $39.33. The company has a market capitalization of $188.34 billion, a price-to-earnings ratio of 8.92, a P/E/G ratio of 2.45 and a beta of 0.42.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, October 24th. The technology company reported $0.90 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by ($0.04). AT&T had a return on equity of 13.61% and a net margin of 20.40%. The company had revenue of $45.74 billion during the quarter, compared to analysts’ expectations of $45.73 billion. During the same quarter in the prior year, the company posted $0.74 EPS. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. Sell-side analysts expect that AT&T Inc. will post 3.51 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 1st. Shareholders of record on Wednesday, October 10th were given a $0.50 dividend. The ex-dividend date was Tuesday, October 9th. This represents a $2.00 annualized dividend and a yield of 6.55%. AT&T’s dividend payout ratio is presently 65.57%.

A number of brokerages recently commented on T. Scotiabank set a $32.00 target price on AT&T and gave the company a “hold” rating in a research report on Thursday, October 25th. Raymond James lowered AT&T from an “outperform” rating to a “market perform” rating and set a $31.75 target price on the stock. in a research report on Friday, July 13th. Zacks Investment Research upgraded AT&T from a “hold” rating to a “buy” rating and set a $35.00 target price on the stock in a research report on Tuesday, July 17th. Robert W. Baird dropped their target price on AT&T from $38.00 to $35.00 and set an “outperform” rating on the stock in a research report on Thursday, October 25th. Finally, Argus reiterated a “buy” rating and issued a $48.00 target price on shares of AT&T in a research report on Friday, October 26th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $37.95.

In other AT&T news, Director Piazza Samuel A. Jr. Di bought 7,690 shares of AT&T stock in a transaction dated Wednesday, August 8th. The stock was acquired at an average cost of $32.48 per share, with a total value of $249,771.20. Following the purchase, the director now directly owns 31,405 shares in the company, valued at approximately $1,020,034.40. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Michael B. Mccallister bought 4,000 shares of AT&T stock in a transaction dated Friday, October 26th. The shares were acquired at an average cost of $29.14 per share, with a total value of $116,560.00. Following the completion of the purchase, the director now owns 7,361 shares in the company, valued at $214,499.54. The disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company’s stock.

AT&T Company Profile

AT&T Inc provides communications and digital entertainment services. The company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility, and International. The Business Solutions segment offers wireless services, strategic services, legacy voice, data services, wireless equipment, and other services to multinational companies, governmental and wholesale customers, and individual subscribers.

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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