Kelly Financial Services LLC Purchases 3,368 Shares of AT&T Inc. $T

Kelly Financial Services LLC raised its position in AT&T Inc. (NYSE:T) by 41.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,452 shares of the technology company’s stock after acquiring an additional 3,368 shares during the quarter. Kelly Financial Services LLC’s holdings in AT&T were worth $331,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of T. Moss Adams Wealth Advisors LLC raised its holdings in shares of AT&T by 18.6% in the 2nd quarter. Moss Adams Wealth Advisors LLC now owns 24,687 shares of the technology company’s stock valued at $714,000 after purchasing an additional 3,874 shares during the period. GC Wealth Management RIA LLC acquired a new position in AT&T during the second quarter worth approximately $1,127,000. Sound Income Strategies LLC increased its position in AT&T by 5.8% during the second quarter. Sound Income Strategies LLC now owns 891,758 shares of the technology company’s stock worth $25,807,000 after buying an additional 48,870 shares during the last quarter. Investment Research & Advisory Group Inc. raised its stake in AT&T by 458.0% in the second quarter. Investment Research & Advisory Group Inc. now owns 3,348 shares of the technology company’s stock valued at $97,000 after buying an additional 2,748 shares during the period. Finally, Global Trust Asset Management LLC lifted its position in shares of AT&T by 66.0% in the second quarter. Global Trust Asset Management LLC now owns 4,276 shares of the technology company’s stock valued at $124,000 after buying an additional 1,700 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Trading Up 0.0%

T stock opened at $28.31 on Monday. AT&T Inc. has a 52 week low of $21.05 and a 52 week high of $29.79. The company has a market capitalization of $202.43 billion, a PE ratio of 16.09, a price-to-earnings-growth ratio of 3.62 and a beta of 0.44. The company’s 50-day simple moving average is $28.61 and its 200 day simple moving average is $27.90. 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 issued its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, topping 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 business had revenue of $30.85 billion during the quarter, compared to analysts’ expectations of $30.44 billion. During the same quarter in the previous year, the company earned $0.51 EPS. The business’s revenue was up 3.4% on a year-over-year basis. As a group, sell-side analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Friday, October 10th. AT&T’s payout ratio is 63.07%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on T shares. Scotiabank boosted their target price on AT&T from $29.50 to $30.00 and gave the stock a “sector outperform” rating in a report on Friday, July 11th. The Goldman Sachs Group began coverage on shares of AT&T in a research report on Tuesday, September 2nd. They set a “buy” rating and a $32.00 price objective for the company. UBS Group set a $33.00 price objective on shares of AT&T in a research report on Thursday, September 18th. Bank of America started coverage on shares of AT&T in a report on Monday, July 7th. They set a “buy” rating and a $32.00 target price for the company. Finally, 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. One investment 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 company’s stock. According to MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and an average target price of $30.74.

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.