Wedmont Private Capital Purchases 66,603 Shares of AT&T Inc. $T

Wedmont Private Capital lifted its position in shares of AT&T Inc. (NYSE:T) by 54.0% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 189,850 shares of the technology company’s stock after purchasing an additional 66,603 shares during the quarter. Wedmont Private Capital’s holdings in AT&T were worth $5,335,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of T. Swedbank AB boosted its position in AT&T by 4.3% during the second quarter. Swedbank AB now owns 3,431,130 shares of the technology company’s stock valued at $99,297,000 after acquiring an additional 142,709 shares during the last quarter. Secure Asset Management LLC lifted its stake in shares of AT&T by 11.8% in the 2nd quarter. Secure Asset Management LLC now owns 58,691 shares of the technology company’s stock valued at $1,699,000 after purchasing an additional 6,172 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of AT&T by 4.0% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 966,230 shares of the technology company’s stock valued at $27,963,000 after purchasing an additional 36,756 shares during the period. Signal Advisors Wealth LLC boosted its position in shares of AT&T by 112.2% during the 2nd quarter. Signal Advisors Wealth LLC now owns 41,299 shares of the technology company’s stock valued at $1,195,000 after purchasing an additional 21,834 shares in the last quarter. Finally, Sunflower Bank N.A. boosted its position in shares of AT&T by 5.4% during the 2nd quarter. Sunflower Bank N.A. now owns 20,532 shares of the technology company’s stock valued at $594,000 after purchasing an additional 1,055 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Performance

NYSE T opened at $29.52 on Thursday. The company has a market cap of $211.08 billion, a P/E ratio of 16.77, a PEG ratio of 3.63 and a beta of 0.44. The company has a fifty day simple moving average of $28.38 and a 200 day simple moving average of $27.78. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. AT&T Inc. has a 12-month low of $21.05 and a 12-month high of $29.79.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.01. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The firm had revenue of $30.85 billion for the quarter, compared to the consensus estimate of $30.44 billion. During the same quarter in the prior year, the company posted $0.51 earnings per share. The business’s revenue was up 3.4% on a year-over-year basis. Sell-side 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 declared a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were given a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $1.11 annualized dividend and a yield of 3.8%. AT&T’s dividend payout ratio (DPR) is presently 63.07%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on T shares. Scotiabank lifted their target price on AT&T from $29.50 to $30.00 and gave the stock a “sector outperform” rating in a report on Friday, July 11th. Wells Fargo & Company raised their price objective on shares of AT&T from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Thursday, July 10th. Sanford C. Bernstein boosted their target price on shares of AT&T from $31.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, September 4th. Raymond James Financial reissued a “strong-buy” rating and set a $31.00 target price (up from $30.00) on shares of AT&T in a research note on Thursday, July 24th. Finally, Bank of America started coverage on shares of AT&T in a report on Monday, July 7th. They issued a “buy” rating and a $32.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, AT&T presently has an average rating of “Moderate Buy” and an average price target of $30.60.

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.