Synergy Asset Management LLC Invests $208,000 in AT&T Inc. $T

Synergy Asset Management LLC purchased a new stake in shares of AT&T Inc. (NYSE:T) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 7,176 shares of the technology company’s stock, valued at approximately $208,000.

Several other hedge funds have also recently bought and sold shares of T. Stone House Investment Management LLC purchased a new stake in shares of AT&T during the first quarter worth $25,000. O Brien Wealth Partners LLC acquired a new position in AT&T in the 2nd quarter worth about $26,000. Hager Investment Management Services LLC raised 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. Kennebec Savings Bank lifted its holdings in shares of AT&T by 412.1% during the 2nd quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock valued at $28,000 after buying an additional 783 shares during the last quarter. Finally, Core Alternative Capital lifted its holdings in shares of AT&T by 125.4% during the 1st quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock valued at $29,000 after buying an additional 568 shares during the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Stock Up 0.2%

AT&T stock opened at $27.06 on Friday. 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 Inc. has a fifty-two week low of $21.05 and a fifty-two week high of $29.79. The firm has a fifty day moving average price of $28.60 and a two-hundred day moving average price of $27.91. The firm has a market cap of $193.49 billion, a price-to-earnings ratio of 15.38, a P/E/G ratio of 3.46 and a beta of 0.42.

AT&T (NYSE:T) last issued its quarterly earnings results 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. The company had revenue of $30.85 billion for 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 firm’s revenue was up 3.4% compared to the same quarter last year. During the same period last year, the business posted $0.51 earnings per share. As a group, analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be given a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Friday, October 10th. AT&T’s payout ratio is currently 63.07%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. HSBC downgraded AT&T from a “buy” rating to a “hold” rating and set a $30.00 price objective on the stock. in a report on Thursday, July 24th. The Goldman Sachs Group began coverage on shares of AT&T in a research note on Tuesday, September 2nd. They set a “buy” rating and a $32.00 price target on the stock. Weiss Ratings restated a “buy (b)” rating on shares of AT&T in a report on Saturday, September 27th. Raymond James Financial reiterated a “strong-buy” rating and issued a $33.00 price objective (up from $31.00) on shares of AT&T in a report on Thursday, September 18th. Finally, Morgan Stanley raised their target price on AT&T from $31.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.