HL Financial Services LLC Has $20.63 Million Stake in AT&T Inc. (T)

HL Financial Services LLC grew its stake in shares of AT&T Inc. (NYSE:T) by 14.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 642,491 shares of the technology company’s stock after purchasing an additional 83,492 shares during the quarter. HL Financial Services LLC’s holdings in AT&T were worth $20,630,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. HC Financial Advisors Inc. purchased a new stake in AT&T in the 4th quarter valued at approximately $1,136,000. Security National Trust Co. lifted its stake in AT&T by 26.9% in the 1st quarter. Security National Trust Co. now owns 129,365 shares of the technology company’s stock valued at $4,611,000 after buying an additional 27,389 shares in the last quarter. Wade G W & Inc. raised its holdings in AT&T by 6.2% in the 1st quarter. Wade G W & Inc. now owns 303,294 shares of the technology company’s stock valued at $10,812,000 after acquiring an additional 17,839 shares during the last quarter. M&T Bank Corp raised its holdings in AT&T by 1.4% in the 1st quarter. M&T Bank Corp now owns 3,426,501 shares of the technology company’s stock valued at $122,153,000 after acquiring an additional 46,751 shares during the last quarter. Finally, Wetherby Asset Management Inc. raised its holdings in AT&T by 9.0% in the 1st quarter. Wetherby Asset Management Inc. now owns 113,286 shares of the technology company’s stock valued at $4,039,000 after acquiring an additional 9,398 shares during the last quarter. 64.77% of the stock is owned by hedge funds and other institutional investors.

In other news, Director Piazza Samuel A. Jr. Di acquired 7,690 shares of the company’s stock in a transaction dated Wednesday, August 8th. The stock was acquired at an average cost of $32.48 per share, for a total transaction of $249,771.20. Following the acquisition, the director now directly owns 31,405 shares in the company, valued at approximately $1,020,034.40. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael B. Mccallister acquired 4,000 shares of the company’s stock in a transaction dated Friday, October 26th. The shares were purchased at an average price of $29.14 per share, with a total value of $116,560.00. Following the completion of the acquisition, 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.

Several research analysts have weighed in on the company. Argus reiterated a “buy” rating and issued a $48.00 price target on shares of AT&T in a report on Friday, October 26th. Deutsche Bank boosted their price target on AT&T from $35.00 to $37.00 and gave the company a “hold” rating in a report on Monday, September 24th. UBS Group upgraded AT&T from a “neutral” rating to a “buy” rating and boosted their price target for the company from $33.00 to $38.00 in a report on Friday, September 21st. They noted that the move was a valuation call. Credit Suisse Group assumed coverage on AT&T in a report on Tuesday, July 10th. They issued an “underperform” rating and a $29.00 price target for the company. Finally, Bank of America reiterated a “buy” rating on shares of AT&T in a report on Tuesday, August 21st. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. AT&T currently has a consensus rating of “Hold” and a consensus price target of $37.95.

T stock opened at $30.52 on Friday. The firm has a market cap of $187.36 billion, a PE ratio of 10.01, a PEG ratio of 2.44 and a beta of 0.42. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.81 and a quick ratio of 0.81. AT&T Inc. has a 52 week low of $28.85 and a 52 week high of $39.33.

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 analysts’ consensus estimates of $0.94 by ($0.04). The firm had revenue of $45.74 billion for the quarter, compared to analyst estimates of $45.73 billion. AT&T had a return on equity of 13.61% and a net margin of 20.40%. The company’s quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.74 earnings per share. On average, analysts forecast that AT&T Inc. will post 3.51 earnings per share for the current fiscal year.

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

About AT&T

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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