Alerus Financial NA Grows Stake in AT&T Inc. (NYSE:T)

Alerus Financial NA increased its stake in shares of AT&T Inc. (NYSE:T) by 1.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 175,888 shares of the technology company’s stock after buying an additional 2,711 shares during the quarter. Alerus Financial NA’s holdings in AT&T were worth $5,062,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. UBS Asset Management Americas Inc. grew its holdings in shares of AT&T by 3.2% during the first quarter. UBS Asset Management Americas Inc. now owns 28,242,777 shares of the technology company’s stock valued at $854,909,000 after buying an additional 874,730 shares during the last quarter. QS Investors LLC lifted its position in AT&T by 1.3% during the first quarter. QS Investors LLC now owns 500,601 shares of the technology company’s stock valued at $15,154,000 after purchasing an additional 6,433 shares during the period. Alpine Woods Capital Investors LLC lifted its position in AT&T by 9.5% during the first quarter. Alpine Woods Capital Investors LLC now owns 158,948 shares of the technology company’s stock valued at $4,811,000 after purchasing an additional 13,761 shares during the period. Westchester Capital Management Inc. lifted its position in AT&T by 3.6% during the first quarter. Westchester Capital Management Inc. now owns 165,304 shares of the technology company’s stock valued at $5,004,000 after purchasing an additional 5,780 shares during the period. Finally, Meridian Wealth Management LLC lifted its position in AT&T by 4.3% during the second quarter. Meridian Wealth Management LLC now owns 166,644 shares of the technology company’s stock valued at $4,796,000 after purchasing an additional 6,864 shares during the period. 51.61% of the stock is currently owned by hedge funds and other institutional investors.

AT&T stock traded down $0.05 during mid-day trading on Tuesday, reaching $27.16. 471,923 shares of the company’s stock were exchanged, compared to its average volume of 40,846,293. The company has a market cap of $193.92 billion, a P/E ratio of -88.26, a P/E/G ratio of 2.11 and a beta of 0.78. AT&T Inc. has a twelve month low of $26.35 and a twelve month high of $33.88. The company has a quick ratio of 0.73, a current ratio of 0.77 and a debt-to-equity ratio of 0.87. The company has a fifty day moving average of $27.78 and a 200-day moving average of $29.21.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, July 21st. The technology company reported $0.89 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.10. AT&T had a negative net margin of 1.11% and a positive return on equity of 12.78%. The business had revenue of $44.05 billion for the quarter, compared to analyst estimates of $42.39 billion. During the same period last year, the business earned $0.83 EPS. The company’s revenue was up 7.6% on a year-over-year basis. Equities research analysts expect that AT&T Inc. will post 3.33 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, August 2nd. Investors of record on Friday, July 9th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 7.66%. The ex-dividend date of this dividend was Thursday, July 8th. AT&T’s dividend payout ratio (DPR) is 65.41%.

A number of research firms recently issued reports on T. Tigress Financial restated a “buy” rating and set a $36.00 target price on shares of AT&T in a research report on Friday, July 9th. Morgan Stanley downgraded shares of AT&T to an “equal weight” rating and set a $29.00 price objective for the company. in a research report on Friday, July 16th. Scotiabank upgraded shares of AT&T from a “sector underperform” rating to a “sector perform” rating and upped their price objective for the stock from $28.00 to $31.00 in a research report on Wednesday, June 16th. Argus downgraded shares of AT&T from a “buy” rating to a “hold” rating and set a $28.09 price objective for the company. in a research report on Tuesday, July 27th. Finally, Redburn Partners initiated coverage on shares of AT&T in a research report on Friday, June 25th. They issued a “sell” rating and a $23.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $31.10.

AT&T Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications media and technology service. It operates through the following segments: Communications, WarnerMedia, and Latin America. The Communications segment provides services to businesses and consumers located in the U.S., or in U.S.

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

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