1248 Management LLC Acquires New Shares in AT&T Inc. $T

1248 Management LLC bought a new stake in AT&T Inc. (NYSE:T) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 1,758 shares of the technology company’s stock, valued at approximately $50,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in T. Capstone Wealth Management LLC purchased a new stake in shares of AT&T during the 1st quarter worth $201,000. Wedmont Private Capital lifted its position in shares of AT&T by 7.9% during the 1st quarter. Wedmont Private Capital now owns 123,247 shares of the technology company’s stock worth $3,302,000 after purchasing an additional 9,027 shares during the last quarter. Xponance Inc. lifted its position in shares of AT&T by 10.2% during the 1st quarter. Xponance Inc. now owns 1,109,933 shares of the technology company’s stock worth $31,389,000 after purchasing an additional 102,419 shares during the last quarter. NBT Bank N A NY lifted its position in shares of AT&T by 7.5% during the 1st quarter. NBT Bank N A NY now owns 129,428 shares of the technology company’s stock worth $3,660,000 after purchasing an additional 8,989 shares during the last quarter. Finally, Park Edge Advisors LLC acquired a new stake in AT&T during the first quarter worth approximately $1,000,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on T. Morgan Stanley increased their price objective on AT&T from $31.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday, July 16th. Sanford C. Bernstein lifted their price objective on AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, September 4th. JPMorgan Chase & Co. raised their target price on shares of AT&T from $31.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Hsbc Global Res lowered shares of AT&T from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 24th. Finally, Citigroup reissued a “buy” rating on shares of AT&T in a research report on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.60.

AT&T Trading Up 1.0%

Shares of T stock opened at $29.49 on Friday. AT&T Inc. has a 1 year low of $21.05 and a 1 year high of $29.79. The firm’s fifty day simple moving average is $28.28 and its 200 day simple moving average is $27.71. The firm has a market capitalization of $210.87 billion, a P/E ratio of 16.76, a price-to-earnings-growth ratio of 3.63 and a beta of 0.44. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01.

AT&T (NYSE:T) last announced its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.01. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The business had revenue of $30.85 billion for the quarter, compared to analyst estimates of $30.44 billion. During the same quarter in the previous year, the firm posted $0.51 earnings per share. AT&T’s revenue was up 3.4% compared to the same quarter last year. As a group, sell-side analysts predict that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were given a dividend of $0.2775 per share. The ex-dividend date was Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.8%. AT&T’s payout ratio is currently 63.07%.

AT&T Company Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.