RMR Wealth Builders Purchases 1,140 Shares of AT&T Inc. $T

RMR Wealth Builders grew its position in AT&T Inc. (NYSE:T) by 9.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,781 shares of the technology company’s stock after acquiring an additional 1,140 shares during the period. RMR Wealth Builders’ holdings in AT&T were worth $399,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Livelsberger Financial Advisory acquired a new position in shares of AT&T in the second quarter valued at $130,000. Goldstone Financial Group LLC boosted its stake in AT&T by 12.7% in the 2nd quarter. Goldstone Financial Group LLC now owns 37,802 shares of the technology company’s stock valued at $1,072,000 after purchasing an additional 4,258 shares during the period. Quintet Private Bank Europe S.A. grew its holdings in AT&T by 103.3% in the 2nd quarter. Quintet Private Bank Europe S.A. now owns 930,777 shares of the technology company’s stock valued at $26,937,000 after buying an additional 473,032 shares in the last quarter. Gradient Investments LLC increased its position in AT&T by 1,869.1% during the 2nd quarter. Gradient Investments LLC now owns 451,621 shares of the technology company’s stock worth $13,070,000 after buying an additional 428,686 shares during the period. Finally, Adams Asset Advisors LLC lifted its holdings in shares of AT&T by 1.1% during the second quarter. Adams Asset Advisors LLC now owns 437,240 shares of the technology company’s stock worth $12,654,000 after buying an additional 4,961 shares in the last quarter. 57.10% of the stock is owned by institutional investors.

AT&T Price Performance

AT&T stock opened at $29.66 on Tuesday. The stock’s 50 day moving average is $28.33 and its 200 day moving average is $27.76. AT&T Inc. has a one year low of $21.05 and a one year high of $29.79. The firm has a market cap of $212.08 billion, a P/E ratio of 16.85, a P/E/G ratio of 3.68 and a beta of 0.44. 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 released its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.01. The firm 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 company’s revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.51 EPS. As a group, research analysts expect that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were issued a $0.2775 dividend. The ex-dividend date was Thursday, July 10th. This represents a $1.11 annualized dividend and a yield of 3.7%. AT&T’s payout ratio is presently 63.07%.

Analysts Set New Price Targets

Several research firms recently commented on T. 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. UBS Group set a $32.00 target price on AT&T in a research note on Thursday, September 4th. The Goldman Sachs Group assumed coverage on AT&T in a research note on Tuesday, September 2nd. They set a “buy” rating and a $32.00 target price for the company. Wells Fargo & Company raised their price target 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. Finally, Scotiabank upped their price objective on shares of AT&T from $29.50 to $30.00 and gave the stock a “sector outperform” rating in a research report on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $30.60.

AT&T Company 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.