Northwest Wealth Management LLC Acquires 1,780 Shares of AT&T Inc. $T

Northwest Wealth Management LLC raised its holdings in AT&T Inc. (NYSE:T) by 24.7% in the second quarter, Holdings Channel reports. The firm owned 8,987 shares of the technology company’s stock after purchasing an additional 1,780 shares during the period. Northwest Wealth Management LLC’s holdings in AT&T were worth $260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Summit Financial Strategies Inc. bought a new position in shares of AT&T during the 2nd quarter worth $252,000. Spartan Planning & Wealth Management grew its stake in shares of AT&T by 34.2% during the 2nd quarter. Spartan Planning & Wealth Management now owns 14,500 shares of the technology company’s stock worth $420,000 after acquiring an additional 3,692 shares during the period. LexAurum Advisors LLC grew its stake in shares of AT&T by 7.3% during the 2nd quarter. LexAurum Advisors LLC now owns 29,045 shares of the technology company’s stock worth $841,000 after acquiring an additional 1,964 shares during the period. Smith Chas P & Associates PA Cpas grew its stake in shares of AT&T by 6.5% during the 2nd quarter. Smith Chas P & Associates PA Cpas now owns 31,602 shares of the technology company’s stock worth $915,000 after acquiring an additional 1,936 shares during the period. Finally, Baron Silver Stevens Financial Advisors LLC bought a new position in shares of AT&T during the 2nd quarter worth $201,000. Institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

T has been the subject of several research reports. Raymond James Financial reiterated a “strong-buy” rating and set a $33.00 price target (up previously from $31.00) on shares of AT&T in a research note on Thursday, September 18th. Morgan Stanley increased their price target on AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 16th. Citigroup reissued a “buy” rating on shares of AT&T in a report on Tuesday, August 26th. Sanford C. Bernstein increased their price objective on AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, September 4th. Finally, Bank of America assumed coverage on AT&T in a report on Monday, July 7th. They set a “buy” rating and a $32.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.74.

AT&T Stock Performance

Shares of T opened at $28.07 on Tuesday. The stock’s 50-day simple moving average is $28.62 and its 200 day simple moving average is $27.91. The stock has a market capitalization of $200.71 billion, a price-to-earnings ratio of 15.95, a price-to-earnings-growth ratio of 3.62 and a beta of 0.44. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81. AT&T Inc. has a 52-week low of $21.05 and a 52-week high of $29.79.

AT&T (NYSE:T) last released its quarterly 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. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The firm had revenue of $30.85 billion for the quarter, compared to analysts’ expectations of $30.44 billion. During the same quarter last year, the firm posted $0.51 EPS. The company’s revenue was up 3.4% compared to the same quarter last year. Research analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be issued a $0.2775 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.0%. AT&T’s dividend payout ratio (DPR) is presently 63.07%.

AT&T 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.