Turtle Creek Wealth Advisors LLC Purchases 1,247 Shares of AT&T Inc. $T

Turtle Creek Wealth Advisors LLC grew its stake in shares of AT&T Inc. (NYSE:T) by 4.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 27,849 shares of the technology company’s stock after acquiring an additional 1,247 shares during the period. Turtle Creek Wealth Advisors LLC’s holdings in AT&T were worth $806,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Stone House Investment Management LLC bought a new position in shares of AT&T during the 1st quarter valued at approximately $25,000. O Brien Wealth Partners LLC bought a new position in shares of AT&T during the 2nd quarter valued at approximately $26,000. Kennebec Savings Bank grew its position 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 acquiring an additional 783 shares during the period. Hager Investment Management Services LLC grew its position 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 valued at $28,000 after acquiring an additional 641 shares during the period. Finally, IMA Advisory Services Inc. bought a new position in shares of AT&T during the 1st quarter valued at approximately $29,000. 57.10% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Scotiabank set a $30.25 target price on shares of AT&T and gave the company a “sector perform” rating in a research report on Monday, October 6th. The Goldman Sachs Group initiated coverage on shares of AT&T in a report on Tuesday, September 2nd. They issued a “buy” rating and a $32.00 price objective for the company. JPMorgan Chase & Co. raised their price objective on shares of AT&T from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Citigroup reaffirmed a “buy” rating on shares of AT&T in a report on Tuesday, August 26th. Finally, Barclays reaffirmed an “equal weight” rating and issued a $30.00 price objective on shares of AT&T in a report on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $30.75.

AT&T Stock Performance

AT&T stock opened at $26.07 on Thursday. The firm’s fifty day moving average price is $28.34 and its 200-day moving average price is $27.84. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81. The stock has a market cap of $186.43 billion, a P/E ratio of 14.81, a price-to-earnings-growth ratio of 2.12 and a beta of 0.42. AT&T Inc. has a fifty-two week low of $21.05 and a fifty-two week high of $29.79.

AT&T (NYSE:T) last issued its earnings results on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.01. The company had revenue of $30.85 billion for the quarter, compared to analysts’ expectations of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The firm’s revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.51 EPS. On average, equities research analysts expect that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be issued a $0.2775 dividend. The ex-dividend date is Friday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.3%. AT&T’s payout ratio is currently 63.07%.

AT&T 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.