AT&T Inc. (NYSE:T) Stock Position Lifted by Northern Oak Wealth Management Inc.
Northern Oak Wealth Management Inc. boosted its stake in shares of AT&T Inc. (NYSE:T) by 20.0% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 352,035 shares of the technology company’s stock after purchasing an additional 58,674 shares during the period. AT&T comprises approximately 1.8% of Northern Oak Wealth Management Inc.’s holdings, making the stock its 14th largest position. Northern Oak Wealth Management Inc.’s holdings in AT&T were worth $11,797,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in T. Kanawha Capital Management LLC grew its position in AT&T by 3.7% in the second quarter. Kanawha Capital Management LLC now owns 227,614 shares of the technology company’s stock worth $7,627,000 after acquiring an additional 8,105 shares in the last quarter. Wealthcare Advisory Partners LLC grew its position in AT&T by 1.6% in the second quarter. Wealthcare Advisory Partners LLC now owns 56,620 shares of the technology company’s stock worth $1,897,000 after acquiring an additional 875 shares in the last quarter. Fluent Financial LLC grew its position in AT&T by 4.3% in the second quarter. Fluent Financial LLC now owns 60,706 shares of the technology company’s stock worth $2,034,000 after acquiring an additional 2,529 shares in the last quarter. Janney Montgomery Scott LLC grew its position in AT&T by 2.3% in the second quarter. Janney Montgomery Scott LLC now owns 2,970,714 shares of the technology company’s stock worth $99,549,000 after acquiring an additional 65,682 shares in the last quarter. Finally, KCS Wealth Advisory bought a new stake in AT&T in the second quarter worth approximately $433,000. 53.05% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have commented on the stock. Credit Suisse Group raised shares of AT&T from an “underperform” rating to a “neutral” rating and set a $29.00 target price for the company in a research report on Thursday, July 25th. Desjardins reissued an “average” rating and issued a $55.50 target price on shares of AT&T in a research report on Tuesday, August 6th. Raymond James boosted their target price on shares of AT&T from $34.00 to $35.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Bank of America reissued a “buy” rating and issued a $37.00 target price on shares of AT&T in a research report on Monday, June 24th. Finally, Morgan Stanley reissued a “buy” rating and issued a $37.00 target price on shares of AT&T in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $36.72.
Shares of AT&T stock traded up $0.36 on Tuesday, reaching $34.84. The stock had a trading volume of 11,474,842 shares, compared to its average volume of 33,241,594. The business has a 50-day moving average price of $33.66. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.81. AT&T Inc. has a fifty-two week low of $26.80 and a fifty-two week high of $34.64. The company has a market capitalization of $252.38 billion, a PE ratio of 9.90, a P/E/G ratio of 2.16 and a beta of 0.62.
AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.89 earnings per share for the quarter, hitting 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 business had revenue of $44.96 billion during the quarter, compared to analysts’ expectations of $44.97 billion. During the same period in the previous year, the company earned $0.91 earnings per share. AT&T’s revenue for the quarter was up 15.3% on a year-over-year basis. On average, sell-side analysts forecast that AT&T Inc. will post 3.57 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 5.86%. The ex-dividend date of this dividend was Tuesday, July 9th. AT&T’s payout ratio is 57.95%.
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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