AT&T Inc. $T Holdings Raised by 1900 Wealth Management LLC

1900 Wealth Management LLC grew its stake in shares of AT&T Inc. (NYSE:T) by 4.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,402 shares of the technology company’s stock after purchasing an additional 635 shares during the period. 1900 Wealth Management LLC’s holdings in AT&T were worth $446,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Synergy Asset Management LLC purchased a new stake in shares of AT&T during the second quarter valued at $208,000. Hilltop National Bank purchased a new stake in shares of AT&T during the second quarter valued at $590,000. Triad Wealth Partners LLC lifted its holdings in shares of AT&T by 4.9% during the second quarter. Triad Wealth Partners LLC now owns 21,261 shares of the technology company’s stock valued at $615,000 after purchasing an additional 985 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of AT&T by 11.6% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 861,004 shares of the technology company’s stock valued at $24,917,000 after purchasing an additional 89,710 shares during the last quarter. Finally, Jmac Enterprises LLC purchased a new stake in shares of AT&T during the second quarter valued at $427,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Stock Down 2.1%

Shares of AT&T stock opened at $26.99 on Friday. The stock has a 50-day moving average price of $28.62 and a 200 day moving average price of $27.91. The company has a market cap of $192.95 billion, a P/E ratio of 15.33, a P/E/G ratio of 3.53 and a beta of 0.42. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. AT&T Inc. has a 1 year low of $21.05 and a 1 year high of $29.79.

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

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be paid a dividend of $0.2775 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.1%. AT&T’s dividend payout ratio (DPR) is 63.07%.

Analyst Ratings Changes

Several equities research analysts have recently commented on T shares. Bank of America started coverage on AT&T in a report on Monday, July 7th. They set a “buy” rating and a $32.00 target price for the company. The Goldman Sachs Group assumed coverage on AT&T in a report on Tuesday, September 2nd. They set a “buy” rating and a $32.00 target price for the company. 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 research note on Thursday, September 4th. Raymond James Financial reissued a “strong-buy” rating and issued a $33.00 price objective (up from $31.00) on shares of AT&T in a research note on Thursday, September 18th. Finally, UBS Group set a $33.00 price objective on AT&T in a research note on Thursday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.74.

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.