Castle Rock Wealth Management LLC Buys Shares of 10,844 AT&T Inc. (NYSE:T)

Castle Rock Wealth Management LLC bought a new stake in AT&T Inc. (NYSE:TGet Rating) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 10,844 shares of the technology company’s stock, valued at approximately $230,000.

Several other large investors have also recently bought and sold shares of the company. SWS Partners bought a new stake in shares of AT&T during the first quarter worth $25,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. bought a new stake in shares of AT&T during the first quarter worth $27,000. Cordant Inc. bought a new stake in shares of AT&T during the first quarter worth $31,000. SBK Financial Inc. acquired a new position in AT&T during the fourth quarter worth $35,000. Finally, Capital Management Associates NY acquired a new position in AT&T during the first quarter worth $34,000. Institutional investors own 52.88% of the company’s stock.

AT&T Stock Performance

NYSE T opened at $16.25 on Thursday. AT&T Inc. has a 52-week low of $16.25 and a 52-week high of $21.53. The stock has a market cap of $115.80 billion, a PE ratio of 5.97, a P/E/G ratio of 1.94 and a beta of 0.48. The firm has a 50-day moving average of $18.08 and a 200-day moving average of $20.08. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.64 and a current ratio of 0.70.

AT&T (NYSE:TGet Rating) last released its quarterly earnings results on Thursday, July 21st. The technology company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.04. AT&T had a net margin of 13.41% and a return on equity of 13.11%. The business had revenue of $29.64 billion for the quarter, compared to analyst estimates of $29.48 billion. During the same period last year, the firm earned $0.89 earnings per share. AT&T’s revenue for the quarter was down 17.1% compared to the same quarter last year. On average, sell-side analysts anticipate that AT&T Inc. will post 2.54 EPS for the current year.

AT&T Cuts Dividend

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

Analysts Set New Price Targets

T has been the subject of several recent research reports. Cowen reduced their target price on shares of AT&T from $27.00 to $24.00 and set a “market perform” rating for the company in a report on Friday, July 22nd. Deutsche Bank Aktiengesellschaft cut their price target on shares of AT&T from $24.00 to $22.00 in a research note on Friday, July 22nd. Wolfe Research cut their price target on shares of AT&T from $27.00 to $22.00 and set a “peer perform” rating for the company in a research note on Thursday, June 2nd. Wells Fargo & Company cut their price target on shares of AT&T to $22.00 in a research note on Friday, July 22nd. Finally, Moffett Nathanson cut their price target 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. Eleven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, AT&T currently has a consensus rating of “Hold” and a consensus price target of $23.41.

AT&T Company Profile

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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.

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

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