Balboa Wealth Partners Has $1.57 Million Stake in AT&T Inc. $T

Balboa Wealth Partners lifted its stake in AT&T Inc. (NYSE:T) by 29.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 54,387 shares of the technology company’s stock after purchasing an additional 12,414 shares during the period. Balboa Wealth Partners’ holdings in AT&T were worth $1,574,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC increased its stake in shares of AT&T by 26.5% in the 4th quarter. Brighton Jones LLC now owns 48,579 shares of the technology company’s stock valued at $1,106,000 after buying an additional 10,188 shares during the period. GAMMA Investing LLC lifted its stake in shares of AT&T by 15.5% during the first quarter. GAMMA Investing LLC now owns 165,258 shares of the technology company’s stock valued at $4,673,000 after acquiring an additional 22,195 shares during the period. World Equity Group Inc. boosted its holdings in AT&T by 28.9% in the first quarter. World Equity Group Inc. now owns 14,856 shares of the technology company’s stock valued at $386,000 after acquiring an additional 3,331 shares during the last quarter. Garde Capital Inc. increased its position in AT&T by 7.3% in the first quarter. Garde Capital Inc. now owns 7,110 shares of the technology company’s stock worth $201,000 after purchasing an additional 485 shares during the period. Finally, Rappaport Reiches Capital Management LLC acquired a new stake in AT&T in the first quarter worth about $218,000. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 0.5%

Shares of NYSE:T opened at $26.33 on Monday. The company has a 50 day moving average price of $28.27 and a two-hundred day moving average price of $27.80. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81. The company has a market capitalization of $188.24 billion, a PE ratio of 14.96, a PEG ratio of 2.13 and a beta of 0.42. AT&T Inc. has a 52 week low of $21.05 and a 52 week high of $29.79.

AT&T (NYSE:T) last announced its quarterly earnings results 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 company had revenue of $30.85 billion during the quarter, compared to analyst estimates of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The firm’s revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.51 EPS. Analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current 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. This represents a $1.11 annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Friday, October 10th. AT&T’s dividend payout ratio is 63.07%.

Analysts Set New Price Targets

A number of research firms have issued reports on T. Sanford C. Bernstein upped their target price 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. JPMorgan Chase & Co. boosted their price target on shares of AT&T from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Hsbc Global Res cut shares of AT&T from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 24th. Barclays reiterated an “equal weight” rating and set a $30.00 target price on shares of AT&T in a research report on Wednesday, October 1st. Finally, Citigroup restated a “buy” rating on shares of AT&T in a research report on Tuesday, August 26th. 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $30.65.

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.