Journey Strategic Wealth LLC Boosts Stock Holdings in AT&T Inc. $T

Journey Strategic Wealth LLC grew its stake in shares of AT&T Inc. (NYSE:T) by 69.0% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 75,125 shares of the technology company’s stock after buying an additional 30,684 shares during the quarter. Journey Strategic Wealth LLC’s holdings in AT&T were worth $2,174,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several research firms have commented on T. UBS Group reissued a “buy” rating on shares of AT&T in a research report on Thursday, October 23rd. Wells Fargo & Company reduced their price target 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. Barclays lowered their price objective 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 shares of AT&T and gave the company a “sector perform” rating in a research note on Monday, October 6th. Finally, The Goldman Sachs Group began coverage on shares of AT&T in a research note on Tuesday, September 2nd. They issued a “buy” rating and a $32.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $30.64.

AT&T Trading Up 1.1%

Shares of NYSE:T opened at $25.55 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 1.01. The company’s 50-day moving average price is $26.45 and its 200 day moving average price is $27.50. The company has a market cap of $181.12 billion, a PE ratio of 8.29, 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.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 EPS for the quarter, meeting the consensus estimate of $0.54. The company had revenue of $30.71 billion for the quarter, compared to analyst estimates of $30.85 billion. AT&T had a net margin of 17.87% and a return on equity of 12.72%. AT&T’s revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.60 earnings per share. Sell-side analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Shareholders 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 4.3%. The ex-dividend date was Friday, October 10th. AT&T’s payout ratio is 36.04%.

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.