Synergy Asset Management LLC Purchases Shares of 7,176 AT&T Inc. $T

Synergy Asset Management LLC purchased a new position in AT&T Inc. (NYSE:T) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 7,176 shares of the technology company’s stock, valued at approximately $208,000.

A number of other large investors have also made changes to their positions in the stock. Stone House Investment Management LLC acquired a new stake in shares of AT&T during the 1st quarter worth approximately $25,000. O Brien Wealth Partners LLC acquired a new position in shares of AT&T in the second quarter valued at $26,000. Hager Investment Management Services LLC lifted its position in AT&T by 182.1% in the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock worth $28,000 after purchasing an additional 641 shares during the period. Kennebec Savings Bank boosted its stake in AT&T by 412.1% during the second quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock worth $28,000 after buying an additional 783 shares in the last quarter. Finally, Core Alternative Capital boosted its stake in AT&T by 125.4% during the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock worth $29,000 after buying an additional 568 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Up 0.2%

NYSE T opened at $27.06 on Friday. The stock’s 50 day simple moving average is $28.60 and its 200 day simple moving average is $27.91. AT&T Inc. has a one year low of $21.05 and a one year high of $29.79. The firm has a market cap of $193.49 billion, a PE ratio of 15.38, a price-to-earnings-growth ratio of 3.46 and a beta of 0.42. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.01. The firm 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%.The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.51 EPS. As a group, sell-side analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Scotiabank increased their price objective on shares of AT&T from $29.50 to $30.00 and gave the company a “sector outperform” rating in a research note on Friday, July 11th. Weiss Ratings reissued a “buy (b)” rating on shares of AT&T in a research report on Saturday, September 27th. Citigroup restated a “buy” rating on shares of AT&T in a research note on Tuesday, August 26th. Barclays reiterated an “equal weight” rating and issued a $30.00 price objective on shares of AT&T in a research note on Wednesday. Finally, The Goldman Sachs Group initiated coverage on AT&T in a research report on Tuesday, September 2nd. They set a “buy” rating and a $32.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and an average price target 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.