Purus Wealth Management LLC Buys 5,971 Shares of AT&T Inc. $T

Purus Wealth Management LLC lifted its stake in shares of AT&T Inc. (NYSE:T) by 48.6% during the second quarter, HoldingsChannel reports. The firm owned 18,251 shares of the technology company’s stock after acquiring an additional 5,971 shares during the quarter. Purus Wealth Management LLC’s holdings in AT&T were worth $528,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Portside Wealth Group LLC grew its position in shares of AT&T by 3.5% in the 2nd quarter. Portside Wealth Group LLC now owns 75,495 shares of the technology company’s stock valued at $2,185,000 after acquiring an additional 2,588 shares during the period. United Advisor Group LLC increased its holdings in shares of AT&T by 5.1% during the 2nd quarter. United Advisor Group LLC now owns 37,356 shares of the technology company’s stock worth $1,081,000 after acquiring an additional 1,810 shares during the last quarter. Empowered Funds LLC lifted its holdings in AT&T by 52.6% during the 2nd quarter. Empowered Funds LLC now owns 725,744 shares of the technology company’s stock valued at $21,003,000 after purchasing an additional 250,146 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of AT&T by 1.6% in the second quarter. Vanguard Group Inc. now owns 661,355,210 shares of the technology company’s stock valued at $19,139,620,000 after purchasing an additional 10,310,560 shares during the last quarter. Finally, Culbertson A N & Co. Inc. lifted its stake in shares of AT&T by 2.6% during the 2nd quarter. Culbertson A N & Co. Inc. now owns 76,648 shares of the technology company’s stock worth $2,218,000 after buying an additional 1,977 shares during the last quarter. 57.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Wall Street Zen downgraded AT&T from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. TD Cowen lifted their price objective on shares of AT&T from $32.00 to $33.00 and gave the stock a “hold” rating in a research note on Thursday, October 23rd. Barclays dropped their price target on shares of AT&T from $30.00 to $28.00 and set an “equal weight” rating for the company in a research report on Thursday, October 23rd. Scotiabank set a $30.25 price objective on AT&T and gave the company a “sector perform” rating in a report on Monday, October 6th. Finally, Williams Trading set a $33.00 target price on AT&T in a report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.64.

AT&T Price Performance

T stock opened at $25.45 on Tuesday. The stock has a market cap of $180.39 billion, a price-to-earnings ratio of 8.26, a P/E/G ratio of 2.16 and a beta of 0.40. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.01 and a quick ratio of 0.96. The company has a 50 day simple moving average of $26.68 and a 200 day simple moving average of $27.54. AT&T Inc. has a 1 year low of $21.38 and a 1 year high of $29.79.

AT&T (NYSE:T) last posted its earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.54. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The firm had revenue of $30.71 billion for the quarter, compared to analysts’ expectations of $30.85 billion. During the same quarter in the previous year, the firm posted $0.60 earnings per share. The company’s revenue was up 1.7% on a year-over-year basis. Research analysts anticipate that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Friday, October 10th were given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date was Friday, October 10th. AT&T’s payout ratio is presently 36.04%.

AT&T Company 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.