Investors Asset Management of Georgia Inc. GA ADV Acquires 1,874 Shares of AT&T Inc. $T

Investors Asset Management of Georgia Inc. GA ADV increased its holdings in AT&T Inc. (NYSE:T) by 3.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,459 shares of the technology company’s stock after acquiring an additional 1,874 shares during the period. Investors Asset Management of Georgia Inc. GA ADV’s holdings in AT&T were worth $1,576,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Stone House Investment Management LLC purchased a new stake in AT&T in the 1st quarter valued at $25,000. O Brien Wealth Partners LLC purchased a new position in AT&T during the 2nd quarter worth $26,000. Hager Investment Management Services LLC grew its stake in shares of AT&T by 182.1% in 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 in the last quarter. Kennebec Savings Bank raised its holdings in shares of AT&T by 412.1% in the second quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock valued at $28,000 after purchasing an additional 783 shares during the last quarter. Finally, Core Alternative Capital raised its holdings in shares of AT&T by 125.4% in the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock valued at $29,000 after purchasing an additional 568 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

T has been the topic of several analyst reports. 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 target on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of AT&T in a research report on Saturday, September 27th. UBS Group set a $33.00 target price on AT&T in a report on Thursday, September 18th. Citigroup reiterated a “buy” rating on shares of AT&T in a report on Tuesday, August 26th. Finally, Hsbc Global Res cut AT&T from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and an average price target of $30.74.

AT&T Trading Up 0.2%

Shares of AT&T stock opened at $27.06 on Monday. The stock has a market capitalization of $193.49 billion, a P/E ratio of 15.38, a P/E/G ratio of 3.46 and a beta of 0.42. AT&T Inc. has a 52-week low of $21.05 and a 52-week high of $29.79. 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 stock’s 50-day simple moving average is $28.60 and its 200 day simple moving average is $27.93.

AT&T (NYSE:T) last issued its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $30.44 billion. During the same quarter last year, the business earned $0.51 earnings per share. The company’s quarterly revenue was up 3.4% on a year-over-year basis. As a group, research analysts anticipate that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be issued 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 4.1%. AT&T’s payout ratio is presently 63.07%.

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.