Wagner Wealth Management LLC Purchases 2,050 Shares of AT&T Inc. $T

Wagner Wealth Management LLC raised its position in shares of AT&T Inc. (NYSE:T) by 1.8% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 119,047 shares of the technology company’s stock after acquiring an additional 2,050 shares during the period. AT&T makes up about 0.8% of Wagner Wealth Management LLC’s investment portfolio, making the stock its 25th largest position. Wagner Wealth Management LLC’s holdings in AT&T were worth $3,445,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Brighton Jones LLC grew its position in AT&T by 26.5% in the 4th quarter. Brighton Jones LLC now owns 48,579 shares of the technology company’s stock valued at $1,106,000 after acquiring an additional 10,188 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in shares of AT&T by 2.5% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 33,791 shares of the technology company’s stock valued at $956,000 after acquiring an additional 828 shares during the last quarter. Versant Capital Management Inc boosted its position in AT&T by 96.9% during the 1st quarter. Versant Capital Management Inc now owns 17,211 shares of the technology company’s stock worth $487,000 after acquiring an additional 8,471 shares during the period. Moody National Bank Trust Division lifted its holdings in shares of AT&T by 8.4% during the first quarter. Moody National Bank Trust Division now owns 43,402 shares of the technology company’s stock valued at $1,227,000 after purchasing an additional 3,370 shares during the last quarter. Finally, Quent Capital LLC increased its position in AT&T by 12.2% in the 1st quarter. Quent Capital LLC now owns 17,743 shares of the technology company’s stock worth $502,000 after purchasing an additional 1,931 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on T. UBS Group set a $33.00 price target on AT&T in a report on Thursday, September 18th. Wells Fargo & Company lifted their target price on shares of AT&T from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Thursday, July 10th. Bank of America began coverage on shares of AT&T in a report on Monday, July 7th. They set a “buy” rating and a $32.00 price objective for the company. HSBC cut shares of AT&T from a “buy” rating to a “hold” rating and set a $30.00 price target on the stock. in a research report on Thursday, July 24th. Finally, Raymond James Financial restated a “strong-buy” rating and set a $33.00 price objective (up previously from $31.00) on shares of AT&T in a research report on Thursday, September 18th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $30.74.

AT&T Price Performance

Shares of NYSE T opened at $28.31 on Friday. AT&T Inc. has a one year low of $21.05 and a one year high of $29.79. The company’s fifty day moving average is $28.61 and its two-hundred day moving average is $27.89. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81. The firm has a market capitalization of $202.43 billion, a P/E ratio of 16.09, a PEG ratio of 3.62 and a beta of 0.44.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.01. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The business 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 company posted $0.51 EPS. The business’s revenue was up 3.4% compared to the same quarter last year. Analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be given a dividend of $0.2775 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 3.9%. AT&T’s dividend payout ratio is currently 63.07%.

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.