Sound View Wealth Advisors Group LLC Buys 12,059 Shares of AT&T Inc. $T

Sound View Wealth Advisors Group LLC grew its stake in AT&T Inc. (NYSE:T) by 63.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,127 shares of the technology company’s stock after purchasing an additional 12,059 shares during the period. Sound View Wealth Advisors Group LLC’s holdings in AT&T were worth $901,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. increased its stake in AT&T by 1.3% during the first quarter. Vanguard Group Inc. now owns 651,044,650 shares of the technology company’s stock valued at $18,411,543,000 after acquiring an additional 8,185,006 shares during the period. Kingstone Capital Partners Texas LLC acquired a new stake in shares of AT&T during the 2nd quarter worth approximately $5,266,758,000. GQG Partners LLC increased its position in shares of AT&T by 17.7% during the first quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock valued at $3,222,711,000 after purchasing an additional 17,177,874 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of AT&T by 3.3% during the first 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 valued at $1,561,514,000 after purchasing an additional 1,783,363 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of AT&T by 2.5% in the first quarter. Dimensional Fund Advisors LP now owns 53,339,376 shares of the technology company’s stock valued at $1,508,411,000 after purchasing an additional 1,307,009 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

T has been the topic of a number of recent research reports. The Goldman Sachs Group assumed 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. Sanford C. Bernstein upped their target price on shares of AT&T from $31.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, September 4th. Wall Street Zen lowered shares of AT&T from a “buy” rating to a “hold” rating in a research report on Saturday. Scotiabank set a $30.25 price objective on AT&T and gave the company a “sector perform” rating in a research note on Monday, October 6th. Finally, UBS Group restated a “buy” rating on shares of AT&T in a research report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.67.

AT&T Price Performance

Shares of AT&T stock opened at $24.81 on Monday. The stock has a market capitalization of $175.85 billion, a price-to-earnings ratio of 8.05, a P/E/G ratio of 2.16 and a beta of 0.40. The firm’s 50-day moving average price is $27.14 and its two-hundred day moving average price is $27.63. 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 1-year low of $21.38 and a 1-year high of $29.79.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 EPS for the quarter, hitting analysts’ consensus estimates of $0.54. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The business had revenue of $30.71 billion for the quarter, compared to analyst estimates of $30.85 billion. During the same period in the prior year, the company earned $0.60 EPS. AT&T’s revenue for the quarter was up 1.7% on a year-over-year basis. On average, equities analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Friday, October 10th were paid a $0.2775 dividend. The ex-dividend date was Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.5%. AT&T’s dividend payout ratio (DPR) is 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.