Ritholtz Wealth Management Acquires 67,536 Shares of AT&T Inc. $T

Ritholtz Wealth Management raised its stake in shares of AT&T Inc. (NYSE:T) by 34.7% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 262,073 shares of the technology company’s stock after purchasing an additional 67,536 shares during the period. Ritholtz Wealth Management’s holdings in AT&T were worth $7,584,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Stone House Investment Management LLC purchased a new position in shares of AT&T in the first quarter valued at about $25,000. O Brien Wealth Partners LLC purchased a new position in shares of AT&T during the second quarter valued at about $26,000. Hager Investment Management Services LLC increased its holdings in shares of AT&T by 182.1% in 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 last quarter. Kennebec Savings Bank lifted its position in shares of AT&T by 412.1% in the second quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock worth $28,000 after buying an additional 783 shares in the last quarter. Finally, Core Alternative Capital boosted its stake in AT&T by 125.4% during the first 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. Institutional investors own 57.10% of the company’s stock.

AT&T Trading Up 2.1%

T stock opened at $26.12 on Wednesday. AT&T Inc. has a twelve month low of $21.05 and a twelve month high of $29.79. The stock has a market capitalization of $186.74 billion, a price-to-earnings ratio of 14.84, a price-to-earnings-growth ratio of 2.07 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. The firm’s fifty day simple moving average is $28.37 and its two-hundred day simple moving average is $27.85.

AT&T (NYSE:T) last released its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.01. The firm had revenue of $30.85 billion during the quarter, compared to analyst estimates of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The business’s revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the business earned $0.51 EPS. As a group, analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 4.3%. AT&T’s dividend payout ratio is currently 63.07%.

Analyst Ratings Changes

T has been the subject of several research analyst reports. Wells Fargo & Company raised their price target on AT&T from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Thursday, July 10th. Barclays reissued an “equal weight” rating and issued a $30.00 target price on shares of AT&T in a report on Wednesday, October 1st. Citigroup reaffirmed a “buy” rating on shares of AT&T in a research note on Tuesday, August 26th. Morgan Stanley lifted their price objective on shares of AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 16th. Finally, Sanford C. Bernstein boosted their target price on shares of AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, September 4th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $30.75.

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.