IVC Wealth Advisors LLC Boosts Position in AT&T Inc. $T

IVC Wealth Advisors LLC increased its stake in AT&T Inc. (NYSE:T) by 6.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,006 shares of the technology company’s stock after buying an additional 452 shares during the period. IVC Wealth Advisors LLC’s holdings in AT&T were worth $232,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. CHURCHILL MANAGEMENT Corp increased its stake in AT&T by 1.5% in the 2nd quarter. CHURCHILL MANAGEMENT Corp now owns 324,104 shares of the technology company’s stock worth $9,380,000 after buying an additional 4,793 shares during the period. Capstone Wealth Management LLC purchased a new position in AT&T in the 1st quarter worth about $201,000. ASR Vermogensbeheer N.V. grew its holdings in AT&T by 1.4% during the 2nd quarter. ASR Vermogensbeheer N.V. now owns 722,568 shares of the technology company’s stock worth $20,910,000 after acquiring an additional 9,970 shares in the last quarter. Wedmont Private Capital grew its holdings in AT&T by 7.9% during the 1st quarter. Wedmont Private Capital now owns 123,247 shares of the technology company’s stock worth $3,302,000 after acquiring an additional 9,027 shares in the last quarter. Finally, Xponance Inc. grew its holdings in AT&T by 10.2% during the 1st quarter. Xponance Inc. now owns 1,109,933 shares of the technology company’s stock worth $31,389,000 after acquiring an additional 102,419 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on T shares. Citigroup reiterated a “buy” rating on shares of AT&T in a report on Tuesday, August 26th. HSBC cut shares of AT&T from a “buy” rating to a “hold” rating and set a $30.00 target price on the stock. in a report on Thursday, July 24th. Wells Fargo & Company increased their target price on shares of AT&T from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. UBS Group set a $33.00 price target on shares of AT&T in a report on Thursday, September 18th. Finally, Morgan Stanley raised their price target on shares of AT&T from $31.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $30.74.

AT&T Stock Up 0.2%

NYSE:T opened at $27.06 on Friday. The company’s 50-day simple moving average is $28.60 and its 200-day simple moving average is $27.92. The stock has a market capitalization of $193.49 billion, a P/E ratio of 15.38, a P/E/G ratio of 3.46 and a beta of 0.42. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81. AT&T Inc. has a fifty-two week low of $21.05 and a fifty-two week high of $29.79.

AT&T (NYSE:T) last released its earnings results on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.01. The company had revenue of $30.85 billion during the quarter, compared to analysts’ expectations of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. AT&T’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period last year, the business earned $0.51 EPS. On average, equities analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be paid 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 4.1%. AT&T’s dividend payout ratio (DPR) is 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.