Private Client Services LLC Increases Stock Holdings in AT&T Inc. $T

Private Client Services LLC lifted its position in AT&T Inc. (NYSE:T) by 72.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,350 shares of the technology company’s stock after purchasing an additional 6,432 shares during the quarter. Private Client Services LLC’s holdings in AT&T were worth $444,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of T. AllSquare Wealth Management LLC increased its position in shares of AT&T by 7.1% during the 1st quarter. AllSquare Wealth Management LLC now owns 5,704 shares of the technology company’s stock worth $161,000 after purchasing an additional 378 shares during the last quarter. Next Level Private LLC increased its position in shares of AT&T by 0.3% during the 1st quarter. Next Level Private LLC now owns 113,379 shares of the technology company’s stock worth $3,206,000 after purchasing an additional 379 shares during the last quarter. Barnes Wealth Management Group Inc increased its position in shares of AT&T by 2.6% during the 1st quarter. Barnes Wealth Management Group Inc now owns 15,027 shares of the technology company’s stock worth $425,000 after purchasing an additional 380 shares during the last quarter. Carolinas Wealth Consulting LLC increased its position in shares of AT&T by 1.6% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 24,161 shares of the technology company’s stock worth $550,000 after purchasing an additional 384 shares during the last quarter. Finally, Kozak & Associates Inc. increased its position in shares of AT&T by 9.4% during the 1st quarter. Kozak & Associates Inc. now owns 4,617 shares of the technology company’s stock worth $126,000 after purchasing an additional 398 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on T shares. Scotiabank raised their price objective on AT&T from $29.50 to $30.00 and gave the stock a “sector outperform” rating in a research report on Friday, July 11th. Citigroup reissued a “buy” rating on shares of AT&T in a research report on Tuesday, August 26th. Sanford C. Bernstein raised their price objective on AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, September 4th. HSBC downgraded AT&T from a “buy” rating to a “hold” rating and set a $30.00 price objective for the company. in a research report on Thursday, July 24th. Finally, Morgan Stanley lifted their target price on AT&T from $31.00 to $32.00 and gave the company an “overweight” rating in a research report on Wednesday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $30.60.

AT&T Stock Performance

NYSE T opened at $29.59 on Friday. The company has a market cap of $211.58 billion, a P/E ratio of 16.81, a P/E/G ratio of 3.67 and a beta of 0.44. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76. The stock has a 50-day moving average of $28.31 and a two-hundred day moving average of $27.73. AT&T Inc. has a 1-year low of $21.05 and a 1-year high of $29.79.

AT&T (NYSE:T) last released its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.01. The company had revenue of $30.85 billion during the quarter, compared to the consensus estimate of $30.44 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%.AT&T’s revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.51 EPS. As a group, analysts anticipate that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were given a dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.8%. AT&T’s payout ratio is currently 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.