Daymark Wealth Partners LLC Boosts Stock Position in AT&T Inc. $T

Daymark Wealth Partners LLC lifted its position in AT&T Inc. (NYSE:T) by 77.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 38,290 shares of the technology company’s stock after buying an additional 16,710 shares during the quarter. Daymark Wealth Partners LLC’s holdings in AT&T were worth $1,108,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Parcion Private Wealth LLC raised its stake in shares of AT&T by 2.5% in the second quarter. Parcion Private Wealth LLC now owns 14,910 shares of the technology company’s stock valued at $431,000 after acquiring an additional 364 shares in the last quarter. David J Yvars Group raised its stake in shares of AT&T by 2.8% in the second quarter. David J Yvars Group now owns 13,884 shares of the technology company’s stock valued at $402,000 after acquiring an additional 372 shares in the last quarter. AllSquare Wealth Management LLC raised its stake in shares of AT&T by 7.1% in the first quarter. AllSquare Wealth Management LLC now owns 5,704 shares of the technology company’s stock valued at $161,000 after acquiring an additional 378 shares in the last quarter. Barnes Wealth Management Group Inc raised its stake in shares of AT&T by 2.6% in the first quarter. Barnes Wealth Management Group Inc now owns 15,027 shares of the technology company’s stock valued at $425,000 after acquiring an additional 380 shares in the last quarter. Finally, Kathmere Capital Management LLC raised its stake in shares of AT&T by 0.8% in the second quarter. Kathmere Capital Management LLC now owns 50,802 shares of the technology company’s stock valued at $1,470,000 after acquiring an additional 381 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Down 1.9%

T opened at $24.66 on Friday. The business’s 50-day simple moving average is $27.65 and its 200-day simple moving average is $27.72. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.96 and a current ratio of 1.01. AT&T Inc. has a one year low of $21.38 and a one year high of $29.79. The stock has a market capitalization of $176.35 billion, a P/E ratio of 8.01, a price-to-earnings-growth ratio of 2.16 and a beta of 0.42.

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

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be given a dividend of $0.2775 per share. The ex-dividend date is Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.5%. AT&T’s payout ratio is 36.04%.

Wall Street Analysts Forecast Growth

T has been the topic of several analyst reports. Morgan Stanley increased their price objective on AT&T from $31.00 to $32.00 and gave the company an “overweight” rating in a research note on Wednesday, July 16th. UBS Group restated a “buy” rating on shares of AT&T in a research note on Thursday, October 23rd. Citigroup restated a “buy” rating on shares of AT&T in a research note on Tuesday, August 26th. HSBC cut AT&T from a “buy” rating to a “hold” rating and set a $30.00 price target on the stock. in a research note on Thursday, July 24th. Finally, Wells Fargo & Company cut their price target on AT&T from $31.00 to $29.00 and set an “overweight” rating on the stock in a research note on Thursday, October 16th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average 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.