Commonwealth Financial Services LLC Has $988,000 Stake in AT&T Inc. (NYSE:T)

Commonwealth Financial Services LLC increased its position in AT&T Inc. (NYSE:T) by 7.6% in the first quarter, HoldingsChannel reports. The firm owned 34,920 shares of the technology company’s stock after acquiring an additional 2,472 shares during the period. Commonwealth Financial Services LLC’s holdings in AT&T were worth $988,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in T. AllSquare Wealth Management LLC raised its holdings in AT&T by 7.1% in the first quarter. AllSquare Wealth Management LLC now owns 5,704 shares of the technology company’s stock worth $161,000 after purchasing an additional 378 shares during the period. Next Level Private LLC raised its holdings in AT&T by 0.3% in the first quarter. Next Level Private LLC now owns 113,379 shares of the technology company’s stock worth $3,206,000 after purchasing an additional 379 shares during the period. Carolinas Wealth Consulting LLC increased its position in shares of AT&T by 1.6% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 24,161 shares of the technology company’s stock worth $550,000 after acquiring an additional 384 shares in the last quarter. Kozak & Associates Inc. increased its position in shares of AT&T by 9.4% during the first quarter. Kozak & Associates Inc. now owns 4,617 shares of the technology company’s stock worth $126,000 after acquiring an additional 398 shares in the last quarter. Finally, Silver Oak Securities Incorporated increased its position in shares of AT&T by 0.3% during the first quarter. Silver Oak Securities Incorporated now owns 114,324 shares of the technology company’s stock worth $3,222,000 after acquiring an additional 398 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Trading Down 1.1%

NYSE:T opened at $27.47 on Thursday. The firm’s fifty day moving average is $27.81 and its 200-day moving average is $26.93. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81. AT&T Inc. has a 52 week low of $18.97 and a 52 week high of $29.19. The firm has a market cap of $196.45 billion, a P/E ratio of 15.61, a P/E/G ratio of 3.44 and a beta of 0.42.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 EPS 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 company had revenue of $30.85 billion for the quarter, compared to analyst estimates of $30.44 billion. During the same period in the prior year, the firm posted $0.51 EPS. The company’s quarterly revenue was up 3.4% on a year-over-year basis. Equities analysts expect that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The company also recently disclosed 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 4.0%. The ex-dividend date of this dividend was Thursday, July 10th. AT&T’s dividend payout ratio is currently 63.07%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Wells Fargo & Company raised their target price on shares of AT&T from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Thursday, July 10th. Tigress Financial lifted their price objective on shares of AT&T from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Tuesday, April 29th. UBS Group reiterated a “buy” rating and issued a $31.00 price objective (up previously from $30.00) on shares of AT&T in a research note on Wednesday, June 18th. Citigroup reiterated a “buy” rating on shares of AT&T in a research note on Tuesday, June 17th. Finally, Hsbc Global Res cut shares of AT&T from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $29.66.

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.