Signature Wealth Management Partners LLC Increases Stake in AT&T Inc. $T

Signature Wealth Management Partners LLC grew its stake in AT&T Inc. (NYSE:T) by 3.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 52,947 shares of the technology company’s stock after buying an additional 1,730 shares during the quarter. AT&T accounts for approximately 0.9% of Signature Wealth Management Partners LLC’s portfolio, making the stock its 23rd biggest position. Signature Wealth Management Partners LLC’s holdings in AT&T were worth $1,532,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in T. Kingstone Capital Partners Texas LLC purchased a new position in shares of AT&T in the 2nd quarter valued at about $5,266,758,000. Nuveen LLC purchased a new position in shares of AT&T in the 1st quarter valued at about $1,072,128,000. GQG Partners LLC boosted its stake in shares of AT&T by 17.7% in the 1st quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock valued at $3,222,711,000 after buying an additional 17,177,874 shares during the period. Ontario Teachers Pension Plan Board boosted its stake in shares of AT&T by 30,527.5% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company’s stock valued at $338,213,000 after buying an additional 11,920,392 shares during the period. Finally, Wellington Management Group LLP boosted its stake in shares of AT&T by 350.4% in the 1st quarter. Wellington Management Group LLP now owns 11,363,940 shares of the technology company’s stock valued at $321,372,000 after buying an additional 8,841,126 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on T. Morgan Stanley boosted their target price on AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 16th. UBS Group set a $33.00 target price on AT&T in a research note on Thursday, September 18th. Barclays restated an “equal weight” rating and set a $30.00 target price on shares of AT&T in a research note on Wednesday. Raymond James Financial restated a “strong-buy” rating and set a $33.00 target price (up previously from $31.00) on shares of AT&T in a research note on Thursday, September 18th. Finally, Wells Fargo & Company boosted their target price on AT&T from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Thursday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and an average price target of $30.74.

AT&T Trading Up 0.2%

T opened at $27.06 on Friday. The firm has a market cap of $193.49 billion, a price-to-earnings ratio of 15.38, a price-to-earnings-growth ratio of 3.46 and a beta of 0.42. AT&T Inc. has a 52 week low of $21.05 and a 52 week high of $29.79. The business’s 50 day moving average is $28.60 and its two-hundred day moving average is $27.91. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.53 by $0.01. The company had revenue of $30.85 billion for the quarter, compared to analyst estimates of $30.44 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The firm’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.51 earnings per share. On average, research analysts predict that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be issued a $0.2775 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.1%. AT&T’s payout ratio is presently 63.07%.

AT&T Company 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.