RWA Wealth Partners LLC Raises Stock Holdings in AT&T Inc. $T

RWA Wealth Partners LLC raised its stake in shares of AT&T Inc. (NYSE:T) by 7.0% during the 2nd quarter, Holdings Channel.com reports. The fund owned 138,118 shares of the technology company’s stock after purchasing an additional 9,035 shares during the quarter. RWA Wealth Partners LLC’s holdings in AT&T were worth $3,997,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the stock. Stone House Investment Management LLC purchased a new stake in AT&T in the first quarter worth approximately $25,000. O Brien Wealth Partners LLC bought a new position in shares of AT&T during the 2nd quarter valued at $26,000. Hager Investment Management Services LLC boosted its stake in shares of AT&T by 182.1% in the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock worth $28,000 after buying an additional 641 shares during the last quarter. Kennebec Savings Bank boosted its stake in shares of AT&T by 412.1% in the 2nd quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock worth $28,000 after buying an additional 783 shares during the last quarter. Finally, Solstein Capital LLC grew its holdings in shares of AT&T by 217.3% in the second quarter. Solstein Capital LLC now owns 952 shares of the technology company’s stock worth $28,000 after acquiring an additional 652 shares during the period. 57.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on T shares. Citigroup reaffirmed a “buy” rating on shares of AT&T in a research report on Tuesday, August 26th. TD Cowen upped their target price on shares of AT&T from $32.00 to $33.00 and gave the company a “hold” rating in a report on Thursday, October 23rd. Wells Fargo & Company decreased their price target on shares of AT&T from $31.00 to $29.00 and set an “overweight” rating on the stock in a research report on Thursday, October 16th. Weiss Ratings reissued a “buy (b)” rating on shares of AT&T in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. upped their price objective on AT&T from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, AT&T currently has an average rating of “Moderate Buy” and an average target price of $30.67.

AT&T Stock Up 0.3%

Shares of T opened at $24.81 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 1.01. AT&T Inc. has a 12-month low of $21.38 and a 12-month high of $29.79. The business’s 50 day moving average is $27.14 and its 200 day moving average is $27.62. The company has a market capitalization of $175.85 billion, a PE ratio of 8.05, a price-to-earnings-growth ratio of 2.16 and a beta of 0.40.

AT&T (NYSE:T) last released its earnings results on Wednesday, October 22nd. The technology company reported $0.54 EPS for the quarter, hitting the consensus estimate of $0.54. The firm had revenue of $30.71 billion for the quarter, compared to the consensus estimate of $30.85 billion. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.60 earnings per share. Research 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 was paid on Monday, November 3rd. Investors of record on Friday, October 10th were given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date was Friday, October 10th. AT&T’s payout ratio is currently 36.04%.

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.