AT&T Inc. $T Stake Lifted by 1900 Wealth Management LLC

1900 Wealth Management LLC increased its stake in shares of AT&T Inc. (NYSE:T) by 4.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,402 shares of the technology company’s stock after buying an additional 635 shares during the quarter. 1900 Wealth Management LLC’s holdings in AT&T were worth $446,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in AT&T by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 651,044,650 shares of the technology company’s stock worth $18,411,543,000 after buying an additional 8,185,006 shares during the last quarter. Kingstone Capital Partners Texas LLC bought a new position in AT&T during the 2nd quarter worth $5,266,758,000. GQG Partners LLC grew its stake in AT&T by 17.7% during the 1st quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock worth $3,222,711,000 after buying an additional 17,177,874 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in AT&T by 3.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 55,216,190 shares of the technology company’s stock worth $1,561,514,000 after buying an additional 1,783,363 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in AT&T by 2.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 53,339,376 shares of the technology company’s stock worth $1,508,411,000 after buying an additional 1,307,009 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on T. Wells Fargo & Company upped their price objective on AT&T from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Thursday, July 10th. The Goldman Sachs Group initiated coverage on AT&T in a research note on Tuesday, September 2nd. They issued a “buy” rating and a $32.00 price target for the company. Raymond James Financial reissued a “strong-buy” rating and issued a $33.00 price target (up previously from $31.00) on shares of AT&T in a research note on Thursday, September 18th. Bank of America initiated coverage on AT&T in a research note on Monday, July 7th. They issued a “buy” rating and a $32.00 price target for the company. Finally, Hsbc Global Res cut AT&T from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $30.74.

AT&T Trading Down 2.1%

Shares of T stock opened at $26.99 on Friday. The stock has a 50-day simple moving average of $28.62 and a 200 day simple moving average of $27.91. AT&T Inc. has a fifty-two week low of $21.05 and a fifty-two week high of $29.79. The stock has a market capitalization of $192.95 billion, a P/E ratio of 15.33, a P/E/G ratio of 3.53 and a beta of 0.42. 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 earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.01. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The business had revenue of $30.85 billion during the quarter, compared to analysts’ expectations of $30.44 billion. During the same quarter last year, the business posted $0.51 earnings per share. The company’s quarterly revenue was up 3.4% on a year-over-year basis. On average, sell-side analysts expect that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors 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 yield of 4.1%. AT&T’s dividend payout ratio (DPR) 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.