Gibson Wealth Advisors LLC Acquires 3,000 Shares of AT&T Inc. $T

Gibson Wealth Advisors LLC lifted its holdings in AT&T Inc. (NYSE:T) by 18.0% during the second quarter, HoldingsChannel.com reports. The firm owned 19,711 shares of the technology company’s stock after purchasing an additional 3,000 shares during the period. AT&T accounts for 0.4% of Gibson Wealth Advisors LLC’s portfolio, making the stock its 21st biggest position. Gibson Wealth Advisors LLC’s holdings in AT&T were worth $570,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Employees Retirement System of Texas boosted its stake in shares of AT&T by 7.1% during the 2nd quarter. Employees Retirement System of Texas now owns 877,572 shares of the technology company’s stock worth $25,397,000 after buying an additional 58,113 shares during the last quarter. Choreo LLC raised its holdings in AT&T by 9.6% during the second quarter. Choreo LLC now owns 285,465 shares of the technology company’s stock worth $8,261,000 after acquiring an additional 25,067 shares in the last quarter. Richmond Investment Services LLC raised its holdings in AT&T by 113.1% during the second quarter. Richmond Investment Services LLC now owns 29,559 shares of the technology company’s stock worth $855,000 after acquiring an additional 15,686 shares in the last quarter. J.W. Cole Advisors Inc. boosted its position in AT&T by 22.1% during the second quarter. J.W. Cole Advisors Inc. now owns 607,679 shares of the technology company’s stock valued at $17,586,000 after purchasing an additional 109,849 shares during the last quarter. Finally, FourThought Financial Partners LLC grew its stake in AT&T by 5.5% in the second quarter. FourThought Financial Partners LLC now owns 97,637 shares of the technology company’s stock valued at $2,826,000 after purchasing an additional 5,104 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Trading Up 0.8%

Shares of T stock opened at $25.82 on Wednesday. AT&T Inc. has a 12-month low of $21.38 and a 12-month high of $29.79. The company has a market capitalization of $183.04 billion, a PE ratio of 8.38, a price-to-earnings-growth ratio of 2.16 and a beta of 0.40. The firm has a 50 day moving average price of $26.22 and a two-hundred day moving average price of $27.45. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 1.01.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, hitting the consensus estimate of $0.54. AT&T had a return on equity of 12.72% and a net margin of 17.87%.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 firm posted $0.60 EPS. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, analysts predict that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Friday, October 10th were paid a $0.2775 dividend. The ex-dividend date was Friday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.3%. AT&T’s dividend payout ratio is 36.04%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on T. Raymond James Financial reiterated a “strong-buy” rating and set a $33.00 price objective (up previously from $31.00) on shares of AT&T in a research note on Thursday, September 18th. Wells Fargo & Company dropped their target price on shares of AT&T from $31.00 to $29.00 and set an “overweight” rating on the stock in a report on Thursday, October 16th. Cowen restated a “hold” rating on shares of AT&T in a research note on Thursday, October 23rd. UBS Group reaffirmed a “buy” rating on shares of AT&T in a research report on Thursday, October 23rd. Finally, Barclays decreased their target price on AT&T from $30.00 to $28.00 and set an “equal weight” rating on the stock in a report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, AT&T has an average rating of “Moderate Buy” and a consensus target price of $30.64.

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.