Precision Wealth Strategies LLC Buys Shares of 75,885 AT&T Inc. $T

Precision Wealth Strategies LLC bought a new stake in AT&T Inc. (NYSE:T) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 75,885 shares of the technology company’s stock, valued at approximately $2,196,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Stone House Investment Management LLC acquired a new stake in shares of AT&T during the first quarter worth about $25,000. O Brien Wealth Partners LLC acquired a new stake in shares of AT&T during the second quarter worth about $26,000. Hager Investment Management Services LLC raised its position in shares of AT&T by 182.1% during the first 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 during the period. Core Alternative Capital raised its position in shares of AT&T by 125.4% during the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock worth $29,000 after purchasing an additional 568 shares during the period. Finally, IMA Advisory Services Inc. acquired a new stake in shares of AT&T during the first quarter worth about $29,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Down 2.5%

Shares of AT&T stock opened at $27.55 on Thursday. The business’s 50 day simple moving average is $28.63 and its 200 day simple moving average is $27.91. AT&T Inc. has a 52-week low of $21.05 and a 52-week high of $29.79. The firm has a market cap of $196.96 billion, a PE ratio of 15.65, a P/E/G ratio of 3.62 and a beta of 0.42. 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 quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.01. The firm had revenue of $30.85 billion during the quarter, compared to the consensus estimate of $30.44 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The business’s revenue was up 3.4% compared to the same quarter last year. During the same period last year, the company earned $0.51 earnings per share. On average, analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Friday, October 10th. AT&T’s dividend payout ratio (DPR) is currently 63.07%.

Analyst Upgrades and Downgrades

T has been the topic of a number of research analyst reports. Sanford C. Bernstein raised their price target on AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, September 4th. Scotiabank raised their price target on AT&T from $29.50 to $30.00 and gave the stock a “sector outperform” rating in a research report on Friday, July 11th. JPMorgan Chase & Co. raised their price target on AT&T from $31.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. The Goldman Sachs Group initiated coverage on AT&T in a research report on Tuesday, September 2nd. They issued a “buy” rating and a $32.00 target price on the stock. Finally, Citigroup reissued a “buy” rating on shares of AT&T in a research report on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $30.74.

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.