Wealth Quarterback LLC Acquires 8,760 Shares of AT&T Inc. $T

Wealth Quarterback LLC grew its stake in AT&T Inc. (NYSE:T) by 43.2% during the second quarter, HoldingsChannel reports. The firm owned 29,054 shares of the technology company’s stock after buying an additional 8,760 shares during the quarter. Wealth Quarterback LLC’s holdings in AT&T were worth $841,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Stone House Investment Management LLC acquired a new stake in AT&T in the first quarter valued at approximately $25,000. O Brien Wealth Partners LLC bought a new position in shares of AT&T in the 2nd quarter valued at $26,000. Solstein Capital LLC boosted its holdings in shares of AT&T by 217.3% during the 2nd quarter. Solstein Capital LLC now owns 952 shares of the technology company’s stock valued at $28,000 after acquiring an additional 652 shares in the last quarter. Kennebec Savings Bank grew its position in AT&T by 412.1% during the 2nd quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock worth $28,000 after acquiring an additional 783 shares during the last quarter. Finally, Hager Investment Management Services LLC grew its position in AT&T by 182.1% during the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock worth $28,000 after acquiring an additional 641 shares during the last quarter. 57.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on T shares. TD Cowen increased their target price on AT&T from $32.00 to $33.00 and gave the company a “hold” rating in a research report on Thursday, October 23rd. Weiss Ratings reiterated a “buy (b)” rating on shares of AT&T in a report on Wednesday, October 8th. UBS Group restated a “buy” rating on shares of AT&T in a research report on Thursday, October 23rd. Citigroup reiterated a “buy” rating on shares of AT&T in a report on Tuesday, August 26th. Finally, Raymond James Financial reissued a “strong-buy” rating and issued a $33.00 price objective (up previously from $31.00) on shares of AT&T in a research note on Thursday, September 18th. One equities 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 company. According to data from MarketBeat, AT&T has a consensus rating of “Moderate Buy” and a consensus target price of $30.64.

AT&T Stock Up 1.4%

Shares of NYSE T opened at $25.19 on Wednesday. The company’s 50 day moving average price is $26.97 and its 200-day moving average price is $27.60. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.96 and a current ratio of 1.01. AT&T Inc. has a 52-week low of $21.38 and a 52-week high of $29.79. The company has a market capitalization of $178.55 billion, a P/E ratio of 8.18, a price-to-earnings-growth ratio of 2.16 and a beta of 0.40.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, hitting the consensus estimate of $0.54. The company had revenue of $30.71 billion during 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%. AT&T’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.60 earnings per share. Equities analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

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