Confluence Wealth Services Inc. Buys 927 Shares of AT&T Inc. $T

Confluence Wealth Services Inc. lifted its stake in AT&T Inc. (NYSE:T) by 1.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 62,634 shares of the technology company’s stock after purchasing an additional 927 shares during the period. Confluence Wealth Services Inc.’s holdings in AT&T were worth $1,813,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of T. Kingstone Capital Partners Texas LLC bought a new stake in shares of AT&T during the second quarter valued at approximately $5,266,758,000. Nuveen LLC purchased a new position in AT&T during the first quarter valued at $1,072,128,000. GQG Partners LLC boosted its holdings in shares of AT&T by 17.7% during the 1st quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock valued at $3,222,711,000 after buying an additional 17,177,874 shares in the last quarter. Ontario Teachers Pension Plan Board grew its position in shares of AT&T by 30,527.5% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company’s stock worth $338,213,000 after buying an additional 11,920,392 shares during the period. Finally, Wellington Management Group LLP increased its stake in shares of AT&T by 350.4% in the 1st quarter. Wellington Management Group LLP now owns 11,363,940 shares of the technology company’s stock worth $321,372,000 after acquiring an additional 8,841,126 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

Shares of NYSE T opened at $27.06 on Monday. The firm has a market cap of $193.49 billion, a P/E ratio of 15.38, a PEG ratio of 3.46 and a beta of 0.42. AT&T Inc. has a twelve month low of $21.05 and a twelve month high of $29.79. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01. The company has a 50 day moving average of $28.60 and a 200 day moving average of $27.93.

AT&T (NYSE:T) last issued its earnings results on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.53 by $0.01. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The business had revenue of $30.85 billion for the quarter, compared to the consensus estimate of $30.44 billion. During the same period last year, the business posted $0.51 EPS. The company’s revenue was up 3.4% compared to the same quarter last year. As a group, research analysts expect that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.1%. The ex-dividend date is Friday, October 10th. AT&T’s dividend payout ratio (DPR) is presently 63.07%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Hsbc Global Res lowered shares of AT&T from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 24th. Wells Fargo & Company boosted their price target on AT&T from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Thursday, July 10th. Morgan Stanley upped their price target on AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 16th. Sanford C. Bernstein lifted their price objective on AT&T from $31.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, September 4th. Finally, Barclays reissued an “equal weight” rating and issued a $30.00 target price on shares of AT&T in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and an average price target of $30.74.

About AT&T

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.