AT&T Inc. $T Stock Position Boosted by Wealthfront Advisers LLC

Wealthfront Advisers LLC raised its stake in shares of AT&T Inc. (NYSE:T) by 2.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,344,583 shares of the technology company’s stock after buying an additional 34,925 shares during the period. Wealthfront Advisers LLC’s holdings in AT&T were worth $38,912,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the stock. Stone House Investment Management LLC bought a new stake in AT&T during the first quarter worth approximately $25,000. O Brien Wealth Partners LLC bought a new stake in shares of AT&T in the 2nd quarter worth $26,000. Hager Investment Management Services LLC lifted its holdings in shares of AT&T by 182.1% in the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock valued at $28,000 after buying an additional 641 shares during the period. Kennebec Savings Bank boosted its stake in AT&T by 412.1% during the second quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock valued at $28,000 after buying an additional 783 shares in the last quarter. Finally, Core Alternative Capital boosted its stake in AT&T by 125.4% during the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock valued at $29,000 after buying an additional 568 shares in the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Trading Up 2.2%

Shares of NYSE:T opened at $25.17 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 1.01. The stock’s 50-day moving average is $27.97 and its 200-day moving average is $27.76. The company has a market cap of $179.95 billion, a P/E ratio of 8.17, a P/E/G ratio of 2.04 and a beta of 0.42. AT&T Inc. has a 52-week low of $21.38 and a 52-week high of $29.79.

AT&T (NYSE:T) last announced its earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, meeting the consensus estimate of $0.54. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The firm had revenue of $30.71 billion during the quarter, compared to the consensus estimate of $30.85 billion. During the same quarter in the prior year, the company earned $0.60 EPS. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. Equities research analysts predict that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

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 dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 4.4%. The ex-dividend date is Friday, October 10th. AT&T’s dividend payout ratio is presently 36.04%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on T shares. Royal Bank Of Canada reduced their price objective on shares of AT&T from $31.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday. Wall Street Zen upgraded shares of AT&T from a “hold” rating to a “buy” rating in a report on Saturday. Cowen reaffirmed a “hold” rating on shares of AT&T in a report on Thursday. HSBC lowered AT&T from a “buy” rating to a “hold” rating and set a $30.00 price objective for the company. in a research note on Thursday, July 24th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and set a $33.00 target price (up from $31.00) on shares of AT&T in a research report on Thursday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.67.

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.