AT&T Inc. $T is Ibex Wealth Advisors’ 9th Largest Position

Ibex Wealth Advisors grew its holdings in shares of AT&T Inc. (NYSE:T) by 6.6% in the 2nd quarter, Holdings Channel reports. The fund owned 592,694 shares of the technology company’s stock after acquiring an additional 36,892 shares during the period. AT&T accounts for about 1.8% of Ibex Wealth Advisors’ investment portfolio, making the stock its 9th biggest position. Ibex Wealth Advisors’ holdings in AT&T were worth $17,153,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the business. Stone House Investment Management LLC purchased a new position in shares of AT&T during the 1st quarter valued at approximately $25,000. O Brien Wealth Partners LLC bought a new position in AT&T during the 2nd quarter valued at $26,000. Solstein Capital LLC boosted its stake in AT&T by 217.3% during 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 last quarter. Kennebec Savings Bank grew its holdings in AT&T by 412.1% during the 2nd quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock worth $28,000 after acquiring an additional 783 shares in the last quarter. Finally, Hager Investment Management Services LLC increased its position in shares of AT&T by 182.1% in the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock worth $28,000 after purchasing an additional 641 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

T has been the topic of several research analyst reports. Raymond James Financial reaffirmed a “strong-buy” rating and set a $33.00 price target (up previously from $31.00) on shares of AT&T in a research report on Thursday, September 18th. Cowen reaffirmed a “hold” rating on shares of AT&T in a report on Thursday, October 23rd. Wells Fargo & Company decreased their target price on AT&T from $31.00 to $29.00 and set an “overweight” rating for the company in a research report on Thursday, October 16th. HSBC cut AT&T from a “buy” rating to a “hold” rating and set a $30.00 price objective on the stock. in a research note on Thursday, July 24th. 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, sixteen have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and a consensus price target of $30.67.

AT&T Price Performance

Shares of NYSE T opened at $24.81 on Monday. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.01 and a quick ratio of 0.96. The firm has a market capitalization of $175.85 billion, a PE ratio of 8.05, a P/E/G ratio of 2.16 and a beta of 0.40. AT&T Inc. has a 1-year low of $21.38 and a 1-year high of $29.79. The business’s fifty day moving average price is $27.14 and its two-hundred day moving average price is $27.63.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 EPS 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 business had revenue of $30.71 billion during the quarter, compared to analyst estimates of $30.85 billion. During the same quarter in the prior year, the firm earned $0.60 earnings per share. The company’s quarterly revenue was up 1.7% on a year-over-year basis. On average, research analysts expect that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Friday, October 10th were paid a $0.2775 dividend. The ex-dividend date was Friday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.5%. AT&T’s dividend payout ratio (DPR) is presently 36.04%.

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.