Kickstand Ventures LLC. Invests $489,000 in AT&T Inc. $T

Kickstand Ventures LLC. bought a new position in shares of AT&T Inc. (NYSE:T) during the 2nd quarter, Holdings Channel.com reports. The fund bought 16,890 shares of the technology company’s stock, valued at approximately $489,000.

Several other hedge funds also recently made changes to their positions in T. Brighton Jones LLC increased its holdings in shares of AT&T by 26.5% during the fourth quarter. Brighton Jones LLC now owns 48,579 shares of the technology company’s stock worth $1,106,000 after purchasing an additional 10,188 shares during the period. Hennion & Walsh Asset Management Inc. increased its holdings in shares of AT&T by 24.1% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 14,035 shares of the technology company’s stock worth $397,000 after purchasing an additional 2,725 shares during the period. Vest Financial LLC increased its stake in AT&T by 47.8% in the first quarter. Vest Financial LLC now owns 119,184 shares of the technology company’s stock valued at $3,371,000 after acquiring an additional 38,528 shares during the last quarter. Signal Advisors Wealth LLC increased its stake in AT&T by 5.2% in the first quarter. Signal Advisors Wealth LLC now owns 19,465 shares of the technology company’s stock valued at $550,000 after acquiring an additional 963 shares during the last quarter. Finally, Magnus Financial Group LLC increased its stake in AT&T by 4.0% in the first quarter. Magnus Financial Group LLC now owns 27,338 shares of the technology company’s stock valued at $773,000 after acquiring an additional 1,057 shares during the last quarter. 57.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on T shares. Wells Fargo & Company lifted their price objective on shares of AT&T from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. 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. Morgan Stanley lifted their price objective 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. 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. Finally, Bank of America started coverage on shares of AT&T in a research note on Monday, July 7th. They issued a “buy” rating and a $32.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $30.74.

AT&T Stock Performance

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

AT&T (NYSE:T) last posted its 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. The firm had revenue of $30.85 billion for the quarter, compared to analysts’ expectations of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The company’s revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.51 earnings per share. On average, equities analysts expect that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

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

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.