Carnegie Capital Asset Management LLC Grows Stake in AT&T Inc. (NYSE:T)

Carnegie Capital Asset Management LLC raised its stake in AT&T Inc. (NYSE:TGet Rating) by 137.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 203,615 shares of the technology company’s stock after acquiring an additional 117,871 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in AT&T were worth $5,860,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. SWS Partners bought a new stake in shares of AT&T in the first quarter valued at approximately $25,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. bought a new stake in shares of AT&T in the first quarter valued at approximately $27,000. Cordant Inc. bought a new stake in shares of AT&T in the first quarter valued at approximately $31,000. Capital Management Associates NY bought a new stake in AT&T during the 1st quarter worth approximately $34,000. Finally, SBK Financial Inc. bought a new stake in AT&T during the 4th quarter worth approximately $35,000. 52.88% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Trading Down 1.9 %

NYSE:T opened at $16.25 on Thursday. The company has a 50-day moving average price of $18.08 and a 200-day moving average price of $20.08. AT&T Inc. has a 12 month low of $16.25 and a 12 month high of $21.53. The company has a current ratio of 0.70, a quick ratio of 0.64 and a debt-to-equity ratio of 0.96. The stock has a market cap of $115.80 billion, a price-to-earnings ratio of 5.97, a P/E/G ratio of 1.94 and a beta of 0.48.

AT&T (NYSE:TGet Rating) last posted its earnings results on Thursday, July 21st. The technology company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.61 by $0.04. AT&T had a net margin of 13.41% and a return on equity of 13.11%. The firm had revenue of $29.64 billion during the quarter, compared to analysts’ expectations of $29.48 billion. During the same period last year, the company posted $0.89 EPS. The company’s quarterly revenue was down 17.1% compared to the same quarter last year. Equities analysts predict that AT&T Inc. will post 2.54 EPS for the current year.

AT&T Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 1st. Investors of record on Monday, July 11th were paid a $0.2775 dividend. The ex-dividend date of this dividend was Friday, July 8th. This represents a $1.11 annualized dividend and a dividend yield of 6.83%. AT&T’s payout ratio is 40.81%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Wolfe Research decreased their price target on shares of AT&T from $27.00 to $22.00 and set a “peer perform” rating on the stock in a report on Thursday, June 2nd. Wells Fargo & Company decreased their price target on shares of AT&T to $22.00 in a report on Friday, July 22nd. Raymond James reaffirmed an “outperform” rating and issued a $26.00 price objective on shares of AT&T in a research note on Thursday, July 7th. Moffett Nathanson cut their price objective on shares of AT&T from $19.00 to $17.00 and set a “market perform” rating for the company in a research note on Thursday, August 18th. Finally, Barclays cut shares of AT&T from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $22.00 to $20.00 in a research note on Friday, July 22nd. Eleven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, AT&T currently has an average rating of “Hold” and an average target price of $23.41.

AT&T Company Profile

(Get Rating)

AT&T Inc provides telecommunications, media, and technology services worldwide. Its Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.

See Also

Want to see what other hedge funds are holding T? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AT&T Inc. (NYSE:TGet Rating).

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

Receive News & Ratings for AT&T Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AT&T and related companies with MarketBeat.com's FREE daily email newsletter.