Geneos Wealth Management Inc. Increases Holdings in AT&T Inc. $T

Geneos Wealth Management Inc. boosted its stake in shares of AT&T Inc. (NYSE:T) by 4.0% in the 1st quarter, HoldingsChannel reports. The fund owned 118,172 shares of the technology company’s stock after buying an additional 4,524 shares during the quarter. Geneos Wealth Management Inc.’s holdings in AT&T were worth $3,342,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of T. Minot DeBlois Advisors LLC purchased a new stake in AT&T during the 4th quarter valued at about $25,000. Capital A Wealth Management LLC purchased a new stake in AT&T during the 4th quarter valued at about $25,000. Stone House Investment Management LLC purchased a new stake in AT&T during the 1st quarter valued at about $25,000. Putney Financial Group LLC purchased a new stake in AT&T during the 4th quarter valued at about $27,000. Finally, Hager Investment Management Services LLC lifted its holdings in AT&T by 182.1% in the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock worth $28,000 after buying an additional 641 shares during the period. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on T shares. Hsbc Global Res lowered AT&T from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 24th. Bank of America started coverage on AT&T in a research report on Monday, July 7th. They issued a “buy” rating and a $32.00 price objective on the stock. Wells Fargo & Company lifted their price objective on AT&T from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Thursday, July 10th. Scotiabank lifted their price objective on AT&T from $29.50 to $30.00 and gave the stock a “sector outperform” rating in a research report on Friday, July 11th. Finally, Morgan Stanley lifted their price objective on AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $30.60.

AT&T Trading Down 0.7%

T opened at $29.21 on Thursday. The stock has a market cap of $208.88 billion, a PE ratio of 16.60, a PEG ratio of 3.66 and a beta of 0.44. 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 business has a 50 day moving average of $28.26 and a 200-day moving average of $27.69. AT&T Inc. has a 52 week low of $21.05 and a 52 week high of $29.79.

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

AT&T Announces Dividend

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

AT&T 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.