Journey Strategic Wealth LLC Buys 30,684 Shares of AT&T Inc. $T

Journey Strategic Wealth LLC raised its position in AT&T Inc. (NYSE:T) by 69.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 75,125 shares of the technology company’s stock after acquiring an additional 30,684 shares during the quarter. Journey Strategic Wealth LLC’s holdings in AT&T were worth $2,174,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Brighton Jones LLC increased its stake in AT&T by 26.5% during the 4th quarter. Brighton Jones LLC now owns 48,579 shares of the technology company’s stock valued at $1,106,000 after purchasing an additional 10,188 shares in the last quarter. PFG Advisors lifted its position in shares of AT&T by 3.2% during the 1st quarter. PFG Advisors now owns 30,801 shares of the technology company’s stock valued at $871,000 after buying an additional 945 shares in the last quarter. IMA Advisory Services Inc. purchased a new position in shares of AT&T during the 1st quarter valued at $29,000. Burney Co. boosted its holdings in shares of AT&T by 34.2% during the 1st quarter. Burney Co. now owns 52,393 shares of the technology company’s stock valued at $1,482,000 after purchasing an additional 13,350 shares during the last quarter. Finally, Northern Financial Advisors Inc increased its position in AT&T by 4.6% in the first quarter. Northern Financial Advisors Inc now owns 34,971 shares of the technology company’s stock worth $989,000 after purchasing an additional 1,539 shares during the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Price Performance

AT&T stock opened at $25.55 on Friday. The firm has a market capitalization of $181.12 billion, a PE ratio of 8.29, a P/E/G ratio of 2.16 and a beta of 0.40. AT&T Inc. has a 52 week low of $21.38 and a 52 week high of $29.79. The firm’s 50-day simple moving average is $26.45 and its 200 day simple moving average is $27.50. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 1.01.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, October 22nd. The technology company reported $0.54 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.54. The business had revenue of $30.71 billion for the quarter, compared to the consensus estimate of $30.85 billion. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The business’s revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.60 earnings per share. On average, equities research analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Friday, October 10th were paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend was Friday, October 10th. AT&T’s payout ratio is presently 36.04%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on T. Raymond James Financial reiterated a “strong-buy” rating and issued a $33.00 price target (up from $31.00) on shares of AT&T in a report on Thursday, September 18th. TD Cowen raised their price target on AT&T from $32.00 to $33.00 and gave the stock a “hold” rating in a report on Thursday, October 23rd. Scotiabank set a $30.25 target price on shares of AT&T and gave the company a “sector perform” rating in a research report on Monday, October 6th. JPMorgan Chase & Co. raised their price target on shares of AT&T from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Finally, Sanford C. Bernstein raised their price objective on AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, September 4th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $30.64.

AT&T Company 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.