TRUE Private Wealth Advisors Boosts Stock Position in AT&T Inc. $T

TRUE Private Wealth Advisors raised its stake in AT&T Inc. (NYSE:T) by 32.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,801 shares of the technology company’s stock after buying an additional 4,148 shares during the quarter. TRUE Private Wealth Advisors’ holdings in AT&T were worth $486,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Brown Wealth Management LLC purchased a new stake in shares of AT&T in the second quarter valued at about $204,000. FineMark National Bank & Trust raised its stake in AT&T by 3.3% during the second quarter. FineMark National Bank & Trust now owns 31,241 shares of the technology company’s stock worth $904,000 after purchasing an additional 1,006 shares during the period. Stonebrook Private Inc. boosted its holdings in AT&T by 36.3% in the 2nd quarter. Stonebrook Private Inc. now owns 15,271 shares of the technology company’s stock valued at $442,000 after purchasing an additional 4,069 shares during the last quarter. Traub Capital Management LLC purchased a new stake in shares of AT&T in the 2nd quarter valued at approximately $110,000. Finally, Greenland Capital Management LP grew its stake in shares of AT&T by 189.7% in the 2nd quarter. Greenland Capital Management LP now owns 406,068 shares of the technology company’s stock valued at $11,752,000 after buying an additional 265,917 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on T. UBS Group reaffirmed a “buy” rating on shares of AT&T in a research report on Thursday, October 23rd. Hsbc Global Res downgraded AT&T from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of AT&T in a report on Wednesday, October 8th. JPMorgan Chase & Co. boosted their price objective on shares of AT&T from $31.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Finally, Raymond James Financial reiterated a “strong-buy” rating and set a $33.00 price target (up from $31.00) on shares of AT&T in a research report on Thursday, September 18th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, AT&T has a consensus rating of “Moderate Buy” and an average price target of $30.64.

AT&T Stock Performance

Shares of AT&T stock opened at $25.27 on Thursday. The stock has a market capitalization of $179.11 billion, a price-to-earnings ratio of 8.20, a price-to-earnings-growth ratio of 2.16 and a beta of 0.40. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.01 and a quick ratio of 0.96. The business has a 50-day moving average of $26.53 and a 200 day moving average of $27.51. AT&T Inc. has a 12 month low of $21.38 and a 12 month high of $29.79.

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

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Friday, October 10th were given a dividend of $0.2775 per share. The ex-dividend date of this dividend was Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.4%. AT&T’s dividend payout ratio is currently 36.04%.

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.