Angeles Wealth Management LLC Boosts Stake in AT&T Inc. $T

Angeles Wealth Management LLC lifted its position in shares of AT&T Inc. (NYSE:T) by 22.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,942 shares of the technology company’s stock after acquiring an additional 2,732 shares during the quarter. Angeles Wealth Management LLC’s holdings in AT&T were worth $432,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Kraft Davis & Associates LLC boosted its stake in shares of AT&T by 6.5% during the 2nd quarter. Kraft Davis & Associates LLC now owns 10,112 shares of the technology company’s stock worth $279,000 after acquiring an additional 614 shares in the last quarter. Mattson Financial Services LLC purchased a new stake in shares of AT&T during the 2nd quarter worth about $943,000. Nordea Investment Management AB raised its position in shares of AT&T by 3.8% during the 2nd quarter. Nordea Investment Management AB now owns 5,733,014 shares of the technology company’s stock worth $163,764,000 after purchasing an additional 210,087 shares during the last quarter. Hourglass Capital LLC raised its position in shares of AT&T by 3.2% during the 2nd quarter. Hourglass Capital LLC now owns 200,970 shares of the technology company’s stock worth $5,816,000 after purchasing an additional 6,220 shares during the last quarter. Finally, Werba Rubin Papier Wealth Management raised its position in shares of AT&T by 2.9% during the 2nd quarter. Werba Rubin Papier Wealth Management now owns 23,491 shares of the technology company’s stock worth $680,000 after purchasing an additional 667 shares during the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on T. Weiss Ratings restated a “buy (b)” rating on shares of AT&T in a research report on Wednesday, October 8th. UBS Group set a $33.00 price target on shares of AT&T in a research report on Thursday, September 18th. Wells Fargo & Company reduced their price target on shares of AT&T from $31.00 to $29.00 and set an “overweight” rating for the company in a research report on Thursday. Barclays restated an “equal weight” rating and set a $30.00 price target on shares of AT&T in a research report on Wednesday, October 1st. Finally, The Goldman Sachs Group began coverage on shares of AT&T in a research report on Tuesday, September 2nd. They set a “buy” rating and a $32.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $30.65.

AT&T Stock Up 0.5%

T stock opened at $26.33 on Friday. The company has a market cap of $188.24 billion, a price-to-earnings ratio of 14.96, a PEG ratio of 2.12 and a beta of 0.42. 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. The firm has a 50-day moving average of $28.27 and a two-hundred day moving average of $27.81.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.01. The company had revenue of $30.85 billion during the quarter, compared to the consensus estimate of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. AT&T’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.51 EPS. As a group, analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders 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 dividend on an annualized basis and a yield of 4.2%. AT&T’s dividend payout ratio is presently 63.07%.

About AT&T

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.