Independent Solutions Wealth Management LLC Raises Stock Position in AT&T Inc. $T

Independent Solutions Wealth Management LLC lifted its stake in shares of AT&T Inc. (NYSE:T) by 33.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,031 shares of the technology company’s stock after acquiring an additional 3,300 shares during the quarter. Independent Solutions Wealth Management LLC’s holdings in AT&T were worth $377,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Stone House Investment Management LLC purchased a new position in AT&T during the first quarter valued at approximately $25,000. O Brien Wealth Partners LLC purchased a new stake in shares of AT&T during the second quarter valued at $26,000. Hager Investment Management Services LLC grew its holdings in shares of AT&T by 182.1% during the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock valued at $28,000 after buying an additional 641 shares during the last quarter. Kennebec Savings Bank lifted its position in AT&T by 412.1% during the second quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock valued at $28,000 after purchasing an additional 783 shares during the period. Finally, Core Alternative Capital lifted its position in AT&T by 125.4% during the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock valued at $29,000 after purchasing an additional 568 shares during the period. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Price Performance

Shares of T opened at $26.13 on Wednesday. AT&T Inc. has a twelve month low of $21.05 and a twelve month high of $29.79. The firm’s fifty day simple moving average is $28.54 and its 200-day simple moving average is $27.91. The firm has a market capitalization of $186.85 billion, a price-to-earnings ratio of 14.85, a PEG ratio of 3.31 and a beta of 0.42. 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 quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, beating 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 period last year, the business earned $0.51 EPS. The company’s revenue was up 3.4% on a year-over-year basis. Equities analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date is Friday, October 10th. AT&T’s dividend payout ratio (DPR) is presently 63.07%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on T. UBS Group set a $33.00 price objective on shares of AT&T in a research report on Thursday, September 18th. Bank of America began coverage on shares of AT&T in a research note on Monday, July 7th. They set a “buy” rating and a $32.00 price objective for the company. Morgan Stanley increased their price target on shares of AT&T from $31.00 to $32.00 and gave the company an “overweight” rating in a research note on Wednesday, July 16th. Citigroup reissued a “buy” rating on shares of AT&T in a research note on Tuesday, August 26th. Finally, Barclays restated an “equal weight” rating and issued a $30.00 price objective on shares of AT&T in a report on Wednesday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and an average price target of $30.75.

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.