Secured Retirement Advisors LLC Acquires Shares of 22,690 AT&T Inc. $T

Secured Retirement Advisors LLC acquired a new stake in AT&T Inc. (NYSE:T) in the second quarter, HoldingsChannel.com reports. The firm acquired 22,690 shares of the technology company’s stock, valued at approximately $657,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in T. CHURCHILL MANAGEMENT Corp increased its holdings in shares of AT&T by 1.5% in the second quarter. CHURCHILL MANAGEMENT Corp now owns 324,104 shares of the technology company’s stock valued at $9,380,000 after purchasing an additional 4,793 shares during the period. Capstone Wealth Management LLC acquired a new position in shares of AT&T in the first quarter valued at approximately $201,000. Kickstand Ventures LLC. acquired a new position in shares of AT&T in the second quarter valued at approximately $489,000. ASR Vermogensbeheer N.V. increased its holdings in shares of AT&T by 1.4% in the second quarter. ASR Vermogensbeheer N.V. now owns 722,568 shares of the technology company’s stock valued at $20,910,000 after purchasing an additional 9,970 shares during the period. Finally, Xponance Inc. increased its holdings in shares of AT&T by 10.2% in the first quarter. Xponance Inc. now owns 1,109,933 shares of the technology company’s stock valued at $31,389,000 after purchasing an additional 102,419 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Trading Up 1.0%

Shares of T stock opened at $26.13 on Wednesday. The business’s fifty day moving average price is $28.54 and its 200 day moving average price is $27.91. AT&T Inc. has a 1-year low of $21.05 and a 1-year high of $29.79. The firm has a market capitalization of $186.85 billion, a PE ratio of 14.85, a P/E/G ratio of 3.31 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 announced its quarterly earnings data 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 analyst estimates of $30.44 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%.AT&T’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.51 earnings per share. As a group, sell-side analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently announced 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. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.11 annualized dividend and a yield of 4.2%. AT&T’s dividend payout ratio is 63.07%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Sanford C. Bernstein boosted their target price on AT&T from $31.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, September 4th. Hsbc Global Res lowered AT&T from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 24th. Raymond James Financial reissued a “strong-buy” rating and issued a $33.00 target price (up previously from $31.00) on shares of AT&T in a report on Thursday, September 18th. Wells Fargo & Company boosted their target price on AT&T from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Thursday, July 10th. Finally, Barclays reaffirmed an “equal weight” rating and set a $30.00 price objective on shares of AT&T in a report on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target 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.