Smith Salley & Associates increased its holdings in shares of AT&T Inc. (NYSE:T) by 4.7% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 374,852 shares of the technology company’s stock after purchasing an additional 16,861 shares during the quarter. AT&T accounts for about 1.9% of Smith Salley & Associates’ investment portfolio, making the stock its 12th largest holding. Smith Salley & Associates’ holdings in AT&T were worth $12,560,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nordea Investment Management AB grew its position in AT&T by 16.9% in the fourth quarter. Nordea Investment Management AB now owns 21,383,855 shares of the technology company’s stock valued at $610,299,000 after acquiring an additional 3,097,958 shares in the last quarter. Clearbridge Investments LLC grew its position in 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 acquiring an additional 325,895 shares in the last quarter. Rhumbline Advisers grew its position in 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 acquiring an additional 113,996 shares in the last quarter. State of New Jersey Common Pension Fund D grew its position in AT&T by 15.8% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 10,869,000 shares of the technology company’s stock valued at $310,201,000 after acquiring an additional 1,485,000 shares in the last quarter. Finally, First Trust Advisors LP grew its position in AT&T by 8.2% in the first quarter. First Trust Advisors LP now owns 8,189,462 shares of the technology company’s stock valued at $256,822,000 after acquiring an additional 620,243 shares in the last quarter. 52.91% of the stock is owned by hedge funds and other institutional investors.

Several analysts have issued reports on T shares. Raymond James increased their price objective 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 price objective on shares of CarMax from $95.00 to $112.00 in a research report on Monday, June 24th. Credit Suisse Group reaffirmed a “buy” rating and issued a $425.00 price objective on shares of Boeing in a research report on Thursday. Desjardins reissued an “average” rating and set a $90.00 price target on shares of MFS California Municipal Fund in a research report on Friday, April 5th. Finally, Cowen reissued a “hold” rating and set a $119.00 price target on shares of Landstar System in a research report on Thursday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company’s stock. AT&T presently has an average rating of “Hold” and an average price target of $36.77.

Shares of T stock traded up $0.27 during mid-day trading on Monday, reaching $34.42. 18,757,164 shares of the company were exchanged, compared to its average volume of 28,387,478. AT&T Inc. has a fifty-two week low of $26.80 and a fifty-two week high of $34.37. The company has a quick ratio of 0.72, a current ratio of 0.71 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $249.23 billion, a P/E ratio of 9.78, a P/E/G ratio of 2.14 and a beta of 0.61. The company has a 50 day moving average price of $33.03.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.89 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.89. AT&T had a net margin of 9.47% and a return on equity of 13.38%. The business had revenue of $44.96 billion during the quarter, compared to the consensus estimate of $44.97 billion. During the same quarter last year, the company earned $0.91 earnings per share. The business’s quarterly revenue was up 15.3% compared to the same quarter last year. As a group, research analysts forecast that AT&T Inc. will post 3.57 earnings per share 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 paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 5.93%. The ex-dividend date of this dividend is Tuesday, July 9th. AT&T’s dividend payout ratio (DPR) is presently 57.95%.

About AT&T

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.

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

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