Beacon Financial Advisory LLC Grows Position in AT&T Inc. $T

Beacon Financial Advisory LLC lifted its stake in AT&T Inc. (NYSE:T) by 66.9% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 48,785 shares of the technology company’s stock after buying an additional 19,561 shares during the quarter. Beacon Financial Advisory LLC’s holdings in AT&T were worth $1,412,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. David J Yvars Group lifted its holdings in shares of AT&T by 2.8% in the second quarter. David J Yvars Group now owns 13,884 shares of the technology company’s stock worth $402,000 after buying an additional 372 shares in the last quarter. AllSquare Wealth Management LLC lifted its holdings in shares of AT&T by 7.1% in the first quarter. AllSquare Wealth Management LLC now owns 5,704 shares of the technology company’s stock worth $161,000 after buying an additional 378 shares in the last quarter. Barnes Wealth Management Group Inc lifted its holdings in shares of AT&T by 2.6% in the first quarter. Barnes Wealth Management Group Inc now owns 15,027 shares of the technology company’s stock worth $425,000 after buying an additional 380 shares in the last quarter. Kathmere Capital Management LLC lifted its holdings in shares of AT&T by 0.8% in the second quarter. Kathmere Capital Management LLC now owns 50,802 shares of the technology company’s stock worth $1,470,000 after buying an additional 381 shares in the last quarter. Finally, James J. Burns & Company LLC lifted its holdings in shares of AT&T by 1.0% in the second quarter. James J. Burns & Company LLC now owns 40,362 shares of the technology company’s stock worth $1,168,000 after buying an additional 383 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Trading Up 0.2%

T stock opened at $27.06 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01. AT&T Inc. has a twelve month low of $21.05 and a twelve month high of $29.79. The stock has a market capitalization of $193.49 billion, a price-to-earnings ratio of 15.38, a price-to-earnings-growth ratio of 3.46 and a beta of 0.42. The firm’s fifty day simple moving average is $28.60 and its two-hundred day simple moving average is $27.92.

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

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders 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 dividend on an annualized basis and a yield of 4.1%. AT&T’s payout ratio is 63.07%.

Analyst Ratings Changes

Several equities analysts have recently commented on T shares. Barclays reissued an “equal weight” rating and issued a $30.00 target price on shares of AT&T in a report on Wednesday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of AT&T in a research note on Saturday, September 27th. Morgan Stanley upped their price target on shares of AT&T from $31.00 to $32.00 and gave the company an “overweight” rating in a research note on Wednesday, July 16th. Citigroup reaffirmed a “buy” rating on shares of AT&T in a research note on Tuesday, August 26th. Finally, Hsbc Global Res downgraded shares of AT&T from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average 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.