Global Retirement Partners LLC Makes New Investment in AT&T Inc. $T

Global Retirement Partners LLC acquired a new stake in AT&T Inc. (NYSE:T) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 156,932 shares of the technology company’s stock, valued at approximately $4,542,000.

Other hedge funds have also modified their holdings of the company. Stone House Investment Management LLC acquired a new position in AT&T in the first quarter valued at $25,000. O Brien Wealth Partners LLC purchased a new position in shares of AT&T during the second quarter worth about $26,000. Kennebec Savings Bank grew its holdings in shares of AT&T by 412.1% during 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 during the last quarter. Solstein Capital LLC increased its position in AT&T by 217.3% in the 2nd quarter. Solstein Capital LLC now owns 952 shares of the technology company’s stock valued at $28,000 after acquiring an additional 652 shares during the period. Finally, Curio Wealth LLC raised its stake in AT&T by 26,100.0% during the 2nd quarter. Curio Wealth LLC now owns 1,048 shares of the technology company’s stock valued at $30,000 after acquiring an additional 1,044 shares during the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Stock Performance

Shares of T opened at $25.60 on Tuesday. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 1.01. AT&T Inc. has a 52-week low of $21.38 and a 52-week high of $29.79. The company has a 50-day simple moving average of $26.29 and a 200-day simple moving average of $27.46. The company has a market capitalization of $181.49 billion, a PE ratio of 8.31, a P/E/G ratio of 2.16 and a beta of 0.40.

AT&T (NYSE:T) last issued its earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, hitting the consensus estimate of $0.54. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The company 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 business posted $0.60 earnings per share. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. Equities research analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Friday, October 10th were issued a dividend of $0.2775 per share. The ex-dividend date of this dividend was Friday, October 10th. This represents a $1.11 annualized dividend and a yield of 4.3%. AT&T’s payout ratio is currently 36.04%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Barclays lowered their target price on AT&T from $30.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 23rd. Scotiabank set a $30.25 price objective on shares of AT&T and gave the company a “sector perform” rating in a research report on Monday, October 6th. Wells Fargo & Company dropped their price objective on shares of AT&T from $31.00 to $29.00 and set an “overweight” rating on the stock in a research note on Thursday, October 16th. UBS Group restated a “buy” rating on shares of AT&T in a research note on Thursday, October 23rd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of AT&T in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.64.

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.