Turtle Creek Wealth Advisors LLC Grows Stock Holdings in AT&T Inc. $T

Turtle Creek Wealth Advisors LLC raised its position in AT&T Inc. (NYSE:T) by 4.7% during the second quarter, Holdings Channel.com reports. The fund owned 27,849 shares of the technology company’s stock after purchasing an additional 1,247 shares during the quarter. Turtle Creek Wealth Advisors LLC’s holdings in AT&T were worth $806,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Stone House Investment Management LLC purchased a new position in shares of AT&T in the first quarter valued at about $25,000. O Brien Wealth Partners LLC purchased a new position in shares of AT&T in the second quarter valued at about $26,000. Hager Investment Management Services LLC increased its position in shares of AT&T by 182.1% in the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock valued at $28,000 after acquiring an additional 641 shares during the period. Kennebec Savings Bank increased its position in shares of AT&T by 412.1% in the second quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock valued at $28,000 after acquiring an additional 783 shares during the period. Finally, Core Alternative Capital increased its position in shares of AT&T by 125.4% in the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock valued at $29,000 after acquiring an additional 568 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Trading Down 0.2%

NYSE:T opened at $26.07 on Thursday. AT&T Inc. has a one year low of $21.05 and a one year high of $29.79. 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 company’s 50-day simple moving average is $28.34 and its 200 day simple moving average is $27.84. The firm has a market capitalization of $186.43 billion, a P/E ratio of 14.81, a PEG ratio of 2.12 and a beta of 0.42.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $30.44 billion. During the same quarter in the previous year, the firm posted $0.51 earnings per share. AT&T’s quarterly revenue was up 3.4% on a year-over-year basis. As a group, analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors 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 annualized dividend and a yield of 4.3%. AT&T’s payout ratio is presently 63.07%.

Analyst Ratings Changes

T has been the topic of a number of analyst reports. Sanford C. Bernstein boosted their price objective on shares of AT&T from $31.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, September 4th. Scotiabank set a $30.25 target price on shares of AT&T and gave the company a “sector perform” rating in a research note on Monday, October 6th. Morgan Stanley lifted their target price 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. The Goldman Sachs Group initiated coverage on shares of AT&T in a research note on Tuesday, September 2nd. They set a “buy” rating and a $32.00 target price on the stock. Finally, JPMorgan Chase & Co. lifted their target price on shares of AT&T from $31.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.75.

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.