Chris Bulman Inc Invests $131,000 in AT&T Inc. (NYSE:T)

Chris Bulman Inc acquired a new position in AT&T Inc. (NYSE:T) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 6,877 shares of the technology company’s stock, valued at approximately $131,000.

Several other large investors have also added to or reduced their stakes in T. Frank Rimerman Advisors LLC bought a new position in AT&T in the fourth quarter valued at approximately $25,000. Pineridge Advisors LLC bought a new position in shares of AT&T in the fourth quarter valued at $25,000. Strategic Financial Concepts LLC grew its stake in shares of AT&T by 227.6% in the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after buying an additional 91,578 shares in the last quarter. Riggs Asset Managment Co. Inc. increased its holdings in AT&T by 356.5% during the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after buying an additional 1,116 shares during the last quarter. Finally, First Pacific Financial raised its position in AT&T by 166.7% during the first quarter. First Pacific Financial now owns 1,600 shares of the technology company’s stock worth $28,000 after acquiring an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Up 1.5 %

NYSE T opened at $20.97 on Friday. The company has a 50 day moving average of $19.31 and a 200-day moving average of $18.01. AT&T Inc. has a 1-year low of $14.12 and a 1-year high of $21.00. 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 company has a market cap of $150.36 billion, a price-to-earnings ratio of 11.27, a PEG ratio of 3.47 and a beta of 0.59.

AT&T (NYSE:T) last released its earnings results on Wednesday, July 24th. The technology company reported $0.57 EPS 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 analyst estimates of $30.05 billion. During the same period last year, the firm earned $0.63 EPS. The business’s quarterly revenue was down .3% compared to the same quarter last year. On average, equities research analysts expect that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 5.29%. The ex-dividend date was Wednesday, July 10th. AT&T’s payout ratio is 59.68%.

Wall Street Analyst Weigh In

T has been the subject of a number of analyst reports. Barclays boosted their price objective on shares of AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Oppenheimer boosted their price target on AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Daiwa America raised AT&T to a “hold” rating in a research report on Friday, July 26th. The Goldman Sachs Group initiated coverage on AT&T in a research note on Monday, July 1st. They set a “buy” rating and a $22.00 target price for the company. Finally, Moffett Nathanson raised their price target on AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $22.06.

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.