Perigon Wealth Management LLC Acquires 7,488 Shares of AT&T Inc. $T

Perigon Wealth Management LLC increased its holdings in AT&T Inc. (NYSE:T) by 6.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 132,474 shares of the technology company’s stock after buying an additional 7,488 shares during the period. Perigon Wealth Management LLC’s holdings in AT&T were worth $3,834,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC lifted its stake in shares of AT&T by 26.5% during the 4th quarter. Brighton Jones LLC now owns 48,579 shares of the technology company’s stock worth $1,106,000 after purchasing an additional 10,188 shares during the last quarter. NorthCrest Asset Manangement LLC grew its stake in AT&T by 5.3% in the fourth quarter. NorthCrest Asset Manangement LLC now owns 78,730 shares of the technology company’s stock valued at $1,793,000 after purchasing an additional 3,978 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in AT&T by 50.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 2,397,772 shares of the technology company’s stock worth $54,597,000 after purchasing an additional 804,740 shares in the last quarter. Mascagni Wealth Management Inc. purchased a new stake in shares of AT&T during the fourth quarter valued at about $52,000. Finally, Wellington Management Group LLP lifted its position in shares of AT&T by 161.3% during the fourth quarter. Wellington Management Group LLP now owns 2,522,814 shares of the technology company’s stock valued at $57,444,000 after buying an additional 1,557,431 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Trading Down 0.0%

NYSE T opened at $28.31 on Friday. The company has a fifty day simple moving average of $28.58 and a two-hundred day simple moving average of $27.86. The stock has a market cap of $202.42 billion, a P/E ratio of 16.08, a P/E/G ratio of 3.63 and a beta of 0.44. AT&T Inc. has a 12-month low of $21.05 and a 12-month high of $29.79. 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 firm had revenue of $30.85 billion for the quarter, compared to analyst estimates of $30.44 billion. During the same period in the previous year, the company earned $0.51 earnings per share. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. On average, analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current 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. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.9%. AT&T’s dividend payout ratio is currently 63.07%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on T shares. Hsbc Global Res downgraded shares of AT&T from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 24th. Scotiabank raised their target price on shares of AT&T from $29.50 to $30.00 and gave the company a “sector outperform” rating in a research note on Friday, July 11th. UBS Group set a $33.00 price target on shares of AT&T in a report on Thursday, September 18th. Bank of America began coverage on AT&T in a report on Monday, July 7th. They set a “buy” rating and a $32.00 price objective for the company. Finally, The Goldman Sachs Group began coverage on AT&T in a research report on Tuesday, September 2nd. They issued a “buy” rating and a $32.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, AT&T currently has an average rating of “Moderate Buy” and an average target price of $30.74.

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.