Global Wealth Management Investment Advisory Inc. Purchases New Holdings in AT&T Inc. $T

Global Wealth Management Investment Advisory Inc. acquired a new position in AT&T Inc. (NYSE:T) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 7,323 shares of the technology company’s stock, valued at approximately $212,000.

A number of other hedge funds have also recently bought and sold shares of the company. Kingstone Capital Partners Texas LLC bought a new stake in shares of AT&T during the second quarter worth $5,266,758,000. Nuveen LLC bought a new position in AT&T in the first quarter valued at about $1,072,128,000. GQG Partners LLC increased its position in AT&T by 17.7% in the first quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock worth $3,222,711,000 after purchasing an additional 17,177,874 shares during the period. Ontario Teachers Pension Plan Board increased its position in AT&T by 30,527.5% in the first quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company’s stock worth $338,213,000 after purchasing an additional 11,920,392 shares during the period. Finally, Wellington Management Group LLP raised its holdings in AT&T by 350.4% during the 1st quarter. Wellington Management Group LLP now owns 11,363,940 shares of the technology company’s stock worth $321,372,000 after purchasing an additional 8,841,126 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors.

AT&T Trading Up 0.3%

Shares of NYSE T opened at $24.81 on Monday. AT&T Inc. has a twelve month low of $21.38 and a twelve month high of $29.79. The stock has a market cap of $175.85 billion, a price-to-earnings ratio of 8.05, a P/E/G ratio of 2.16 and a beta of 0.40. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 1.01. The company’s fifty day moving average is $27.14 and its 200-day moving average is $27.63.

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

AT&T Announces Dividend

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

Analyst Ratings Changes

T has been the topic of several recent research reports. Scotiabank set a $30.25 target price on shares of AT&T and gave the company a “sector perform” rating in a research note on Monday, October 6th. Weiss Ratings restated a “buy (b)” rating on shares of AT&T in a report on Wednesday, October 8th. Morgan Stanley raised their price objective on shares of AT&T from $31.00 to $32.00 and gave the company an “overweight” rating in a research note on Wednesday, July 16th. Hsbc Global Res lowered shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 24th. Finally, Raymond James Financial reiterated a “strong-buy” rating and set a $33.00 target price (up previously 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 assigned a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $30.67.

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.