Edgestream Partners L.P. Increases Stock Position in AT&T Inc. (NYSE:T)

Edgestream Partners L.P. boosted its holdings in AT&T Inc. (NYSE:T) by 57.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 463,659 shares of the technology company’s stock after buying an additional 169,837 shares during the period. AT&T makes up 0.4% of Edgestream Partners L.P.’s investment portfolio, making the stock its 23rd biggest holding. Edgestream Partners L.P.’s holdings in AT&T were worth $8,861,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vantage Financial Partners LLC boosted its position in shares of AT&T by 25.5% in the fourth quarter. Vantage Financial Partners LLC now owns 38,207 shares of the technology company’s stock valued at $641,000 after acquiring an additional 7,762 shares during the period. Gilbert & Cook Inc. boosted its holdings in AT&T by 4.1% in the 4th quarter. Gilbert & Cook Inc. now owns 31,130 shares of the technology company’s stock valued at $522,000 after purchasing an additional 1,212 shares during the period. Aveo Capital Partners LLC grew its position in shares of AT&T by 4.5% during the 4th quarter. Aveo Capital Partners LLC now owns 27,770 shares of the technology company’s stock valued at $466,000 after purchasing an additional 1,194 shares in the last quarter. Gryphon Financial Partners LLC increased its holdings in shares of AT&T by 21.8% in the fourth quarter. Gryphon Financial Partners LLC now owns 27,253 shares of the technology company’s stock worth $477,000 after purchasing an additional 4,870 shares during the period. Finally, Brown Advisory Inc. raised its position in shares of AT&T by 7.8% in the fourth quarter. Brown Advisory Inc. now owns 242,324 shares of the technology company’s stock worth $4,066,000 after buying an additional 17,601 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

T has been the subject of several recent analyst reports. Royal Bank of Canada boosted their target price on AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 25th. TD Cowen upped their price objective 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. UBS Group reaffirmed a “buy” rating and issued a $24.00 target price on shares of AT&T in a research note on Tuesday, June 18th. Daiwa America raised AT&T to a “hold” rating in a research note on Friday, July 26th. Finally, JPMorgan Chase & Co. raised their price objective on AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.31.

AT&T Stock Up 2.9 %

Shares of AT&T stock opened at $22.28 on Tuesday. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. AT&T Inc. has a 12-month low of $14.12 and a 12-month high of $22.34. The company has a market cap of $159.72 billion, a P/E ratio of 11.98, a PEG ratio of 3.68 and a beta of 0.59. The company’s fifty day simple moving average is $19.66 and its two-hundred day simple moving average is $18.22.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (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 company had revenue of $29.80 billion for the quarter, compared to analysts’ expectations of $30.05 billion. During the same quarter in the previous year, the company earned $0.63 earnings per share. AT&T’s quarterly revenue was down .3% on a year-over-year basis. Research analysts anticipate that AT&T Inc. will post 2.2 EPS for the current year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.98%. The ex-dividend date of this dividend was Wednesday, July 10th. AT&T’s payout ratio 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.