Beacon Investment Advisory Services Inc. Raises Holdings in AT&T Inc. $T

Beacon Investment Advisory Services Inc. lifted its holdings in shares of AT&T Inc. (NYSE:T) by 2.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,512 shares of the technology company’s stock after purchasing an additional 754 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in AT&T were worth $1,115,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Stone House Investment Management LLC purchased a new position in shares of AT&T during the 1st quarter worth approximately $25,000. O Brien Wealth Partners LLC purchased a new position in shares of AT&T during the 2nd quarter worth approximately $26,000. Hager Investment Management Services LLC increased its stake in shares of AT&T by 182.1% during the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock worth $28,000 after purchasing an additional 641 shares in the last quarter. Core Alternative Capital grew its stake in AT&T by 125.4% in the 1st quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock worth $29,000 after acquiring an additional 568 shares during the period. Finally, IMA Advisory Services Inc. purchased a new stake in AT&T in the 1st quarter worth approximately $29,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on the stock. The Goldman Sachs Group assumed coverage on shares of AT&T in a research note on Tuesday, September 2nd. They issued a “buy” rating and a $32.00 target price for the company. HSBC cut shares of AT&T from a “buy” rating to a “hold” rating and set a $30.00 target price for the company. 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. UBS Group set a $33.00 target price on shares of AT&T in a research note on Thursday, September 18th. Finally, JPMorgan Chase & Co. lifted their target price 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. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, AT&T has a consensus rating of “Moderate Buy” and an average target price of $30.74.

AT&T Stock Down 0.0%

Shares of NYSE T opened at $28.31 on Friday. AT&T Inc. has a 52-week low of $21.05 and a 52-week high of $29.79. The firm has a fifty day moving average of $28.58 and a 200-day moving average of $27.86. The stock has a market capitalization of $202.42 billion, a PE ratio of 16.08, a P/E/G ratio of 3.63 and a beta of 0.44. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01.

AT&T (NYSE:T) last announced its quarterly earnings data 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. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The company had revenue of $30.85 billion during the quarter, compared to analysts’ expectations of $30.44 billion. During the same period in the previous year, the company earned $0.51 EPS. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. On average, analysts anticipate that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders 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 dividend yield of 3.9%. AT&T’s payout ratio is currently 63.07%.

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.