Flaharty Asset Management LLC Purchases New Position in AT&T Inc. $T

Flaharty Asset Management LLC purchased a new stake in shares of AT&T Inc. (NYSE:T) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 7,039 shares of the technology company’s stock, valued at approximately $199,000.

Several other institutional investors also recently bought and sold shares of the stock. Capstone Wealth Management LLC purchased a new stake in shares of AT&T in the first quarter valued at approximately $201,000. Wedmont Private Capital increased its position in shares of AT&T by 7.9% in the first quarter. Wedmont Private Capital now owns 123,247 shares of the technology company’s stock valued at $3,302,000 after buying an additional 9,027 shares in the last quarter. Xponance Inc. increased its position in shares of AT&T by 10.2% in the first quarter. Xponance Inc. now owns 1,109,933 shares of the technology company’s stock valued at $31,389,000 after buying an additional 102,419 shares in the last quarter. NBT Bank N A NY increased its position in shares of AT&T by 7.5% in the first quarter. NBT Bank N A NY now owns 129,428 shares of the technology company’s stock valued at $3,660,000 after buying an additional 8,989 shares in the last quarter. Finally, Park Edge Advisors LLC purchased a new stake in shares of AT&T in the first quarter valued at approximately $1,000,000. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Bank of America assumed coverage on AT&T in a research report on Monday, July 7th. They issued a “buy” rating and a $32.00 price objective for the company. Raymond James Financial restated a “strong-buy” rating and issued a $31.00 price objective (up from $30.00) on shares of AT&T in a research report on Thursday, July 24th. Wells Fargo & Company boosted their price objective on AT&T from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Thursday, July 10th. HSBC cut AT&T from a “buy” rating to a “hold” rating and set a $30.00 price objective for the company. in a research report on Thursday, July 24th. Finally, Sanford C. Bernstein lifted their price target on AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $30.60.

AT&T Stock Performance

Shares of NYSE:T opened at $29.43 on Wednesday. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76. The business’s 50 day moving average price is $28.24 and its 200-day moving average price is $27.68. The firm has a market capitalization of $210.44 billion, a PE ratio of 16.72, a P/E/G ratio of 3.57 and a beta of 0.44. AT&T Inc. has a 1 year low of $21.05 and a 1 year high of $29.79.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter 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. As a group, equities research analysts expect that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were paid a dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 3.8%. AT&T’s payout ratio is 63.07%.

AT&T 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.