IMG Wealth Management Inc. Increases Stock Position in AT&T Inc. $T

IMG Wealth Management Inc. lifted its holdings in shares of AT&T Inc. (NYSE:T) by 32.0% during the second quarter, HoldingsChannel.com reports. The fund owned 9,232 shares of the technology company’s stock after purchasing an additional 2,236 shares during the quarter. IMG Wealth Management Inc.’s holdings in AT&T were worth $267,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its position in shares of AT&T by 1.3% during the first quarter. Vanguard Group Inc. now owns 651,044,650 shares of the technology company’s stock worth $18,411,543,000 after acquiring an additional 8,185,006 shares during the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in shares of AT&T during the second quarter worth approximately $5,266,758,000. GQG Partners LLC grew its position in shares of AT&T by 17.7% during the first quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock worth $3,222,711,000 after acquiring an additional 17,177,874 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of AT&T by 3.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 55,216,190 shares of the technology company’s stock worth $1,561,514,000 after acquiring an additional 1,783,363 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in AT&T by 2.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 53,339,376 shares of the technology company’s stock valued at $1,508,411,000 after buying an additional 1,307,009 shares during the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on T. The Goldman Sachs Group began coverage on shares of AT&T in a research report on Tuesday, September 2nd. They issued a “buy” rating and a $32.00 price objective on the stock. Bank of America began coverage on shares of AT&T in a research report on Monday, July 7th. They issued a “buy” rating and a $32.00 price objective on the stock. Scotiabank set a $30.25 price objective on shares of AT&T and gave the company a “sector perform” rating in a research report on Monday, October 6th. JPMorgan Chase & Co. lifted their price objective on shares of AT&T from $31.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of AT&T in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $30.65.

AT&T Price Performance

Shares of NYSE T opened at $26.08 on Tuesday. The firm has a market capitalization of $186.45 billion, a P/E ratio of 14.82, a PEG ratio of 2.13 and a beta of 0.42. AT&T Inc. has a one year low of $21.05 and a one year high of $29.79. The company’s fifty day moving average is $28.23 and its two-hundred day moving average is $27.80. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81.

AT&T (NYSE:T) last issued its earnings results on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, topping the consensus estimate 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 net margin of 10.29% and a return on equity of 13.36%. The business’s revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.51 EPS. Analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Friday, October 10th. AT&T’s payout ratio is presently 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.