Landsberg Bennett & Dubbaneh LLC boosted its stake in shares of AT&T Inc. (NYSE:T) by 33.1% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 33,768 shares of the technology company’s stock after acquiring an additional 8,403 shares during the period. Landsberg Bennett & Dubbaneh LLC’s holdings in AT&T were worth $1,129,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Nordea Investment Management AB raised its position in AT&T by 16.9% during the fourth quarter. Nordea Investment Management AB now owns 21,383,855 shares of the technology company’s stock worth $610,299,000 after acquiring an additional 3,097,958 shares during the period. State of New Jersey Common Pension Fund D raised its position in shares of AT&T by 6.3% in the second quarter. State of New Jersey Common Pension Fund D now owns 15,100,000 shares of the technology company’s stock valued at $506,001,000 after buying an additional 900,000 shares during the last quarter. Clearbridge Investments LLC raised its position in shares of AT&T by 2.3% in the first quarter. Clearbridge Investments LLC now owns 14,581,520 shares of the technology company’s stock valued at $457,276,000 after buying an additional 325,895 shares during the last quarter. Rhumbline Advisers raised its position in shares of AT&T by 0.9% in the fourth quarter. Rhumbline Advisers now owns 12,905,393 shares of the technology company’s stock valued at $368,320,000 after buying an additional 113,996 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its position in shares of AT&T by 0.7% in the second quarter. Robeco Institutional Asset Management B.V. now owns 9,053,942 shares of the technology company’s stock valued at $303,400,000 after buying an additional 64,418 shares during the last quarter. Institutional investors own 52.91% of the company’s stock.

Shares of T traded up $0.23 during mid-day trading on Monday, reaching $34.39. The stock had a trading volume of 12,927,176 shares, compared to its average volume of 28,387,478. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.72 and a current ratio of 0.71. AT&T Inc. has a 52-week low of $26.80 and a 52-week high of $34.37. The company has a fifty day moving average of $33.03. The stock has a market capitalization of $249.23 billion, a price-to-earnings ratio of 9.77, a price-to-earnings-growth ratio of 2.14 and a beta of 0.61.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.89 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.89. AT&T had a net margin of 9.47% and a return on equity of 13.38%. The firm had revenue of $44.96 billion during the quarter, compared to analyst estimates of $44.97 billion. During the same quarter in the prior year, the firm posted $0.91 earnings per share. AT&T’s quarterly revenue was up 15.3% on a year-over-year basis. As a group, research analysts forecast that AT&T Inc. will post 3.57 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 5.93%. The ex-dividend date of this dividend is Tuesday, July 9th. AT&T’s dividend payout ratio is currently 57.95%.

A number of equities research analysts have recently commented on T shares. Raymond James increased their target price on shares of Spotify Technology from $172.00 to $180.00 and gave the company a “strong-buy” rating in a research report on Thursday. Bank of America increased their target price on shares of CarMax from $95.00 to $112.00 in a research report on Monday, June 24th. Cowen reiterated a “hold” rating and issued a $119.00 target price on shares of Landstar System in a research report on Thursday. ValuEngine upgraded shares of Zumiez from a “sell” rating to a “hold” rating in a research report on Monday, July 22nd. Finally, Credit Suisse Group reiterated a “buy” rating and issued a $425.00 target price on shares of Boeing in a research report on Thursday. One research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $36.77.

AT&T Company Profile

AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.

Further Reading: Why do companies pay special dividends?

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

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