AT&T Inc. $T Shares Purchased by Wealthspire Advisors LLC

Wealthspire Advisors LLC raised its position in shares of AT&T Inc. (NYSE:T) by 3.2% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 110,648 shares of the technology company’s stock after purchasing an additional 3,397 shares during the quarter. Wealthspire Advisors LLC’s holdings in AT&T were worth $3,202,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of T. Stone House Investment Management LLC acquired a new position in AT&T during the first quarter worth about $25,000. O Brien Wealth Partners LLC acquired a new position in shares of AT&T in the 2nd quarter worth approximately $26,000. Solstein Capital LLC grew its stake in shares of AT&T by 217.3% in the 2nd quarter. Solstein Capital LLC now owns 952 shares of the technology company’s stock worth $28,000 after purchasing an additional 652 shares during the last quarter. Kennebec Savings Bank boosted its holdings in AT&T by 412.1% during the second quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock worth $28,000 after buying an additional 783 shares in the last quarter. Finally, IMA Advisory Services Inc. acquired a new position in AT&T in the first quarter worth approximately $29,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Price Performance

Shares of T opened at $25.27 on Thursday. The company has a market capitalization of $179.11 billion, a price-to-earnings ratio of 8.20, a P/E/G ratio of 2.16 and a beta of 0.40. AT&T Inc. has a fifty-two week low of $21.38 and a fifty-two week high of $29.79. 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 business’s 50-day moving average is $26.53 and its 200-day moving average is $27.51.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 EPS for the quarter, hitting the consensus estimate of $0.54. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The business had revenue of $30.71 billion during the quarter, compared to analysts’ expectations of $30.85 billion. During the same period last year, the company posted $0.60 earnings per share. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. Equities research analysts expect 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 was paid on Monday, November 3rd. Stockholders of record on Friday, October 10th were issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.4%. The ex-dividend date was Friday, October 10th. AT&T’s payout ratio is currently 36.04%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on T shares. Cowen reiterated a “hold” rating on shares of AT&T in a research report on Thursday, October 23rd. Wells Fargo & Company cut their target price on AT&T from $31.00 to $29.00 and set an “overweight” rating on the stock in a research report on Thursday, October 16th. Royal Bank Of Canada decreased their price target on AT&T from $31.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday, October 23rd. TD Cowen lifted their price target on AT&T from $32.00 to $33.00 and gave the stock a “hold” rating in a research note on Thursday, October 23rd. Finally, Scotiabank set a $30.25 price objective on shares of AT&T and gave the company a “sector perform” rating in a research note on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $30.64.

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.