Presper Financial Architects LLC Takes $738,000 Position in AT&T Inc. $T

Presper Financial Architects LLC purchased a new stake in shares of AT&T Inc. (NYSE:T) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 25,499 shares of the technology company’s stock, valued at approximately $738,000. AT&T accounts for about 0.5% of Presper Financial Architects LLC’s portfolio, making the stock its 21st biggest holding.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Northwest Wealth Management LLC lifted its stake in AT&T by 24.7% in the second quarter. Northwest Wealth Management LLC now owns 8,987 shares of the technology company’s stock valued at $260,000 after buying an additional 1,780 shares during the period. Summit Financial Strategies Inc. acquired a new position in AT&T in the second quarter valued at about $252,000. Spartan Planning & Wealth Management lifted its stake in AT&T by 34.2% in the second quarter. Spartan Planning & Wealth Management now owns 14,500 shares of the technology company’s stock valued at $420,000 after buying an additional 3,692 shares during the period. LexAurum Advisors LLC lifted its stake in AT&T by 7.3% in the second quarter. LexAurum Advisors LLC now owns 29,045 shares of the technology company’s stock valued at $841,000 after buying an additional 1,964 shares during the period. Finally, Smith Chas P & Associates PA Cpas lifted its stake in AT&T by 6.5% in the second quarter. Smith Chas P & Associates PA Cpas now owns 31,602 shares of the technology company’s stock valued at $915,000 after buying an additional 1,936 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on T shares. The Goldman Sachs Group started coverage on AT&T in a research note on Tuesday, September 2nd. They issued a “buy” rating and a $32.00 target price on the stock. Citigroup reissued a “buy” rating on shares of AT&T in a research note on Tuesday, August 26th. UBS Group set a $33.00 target price on AT&T in a research note on Thursday, September 18th. Hsbc Global Res lowered AT&T from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 24th. Finally, Sanford C. Bernstein raised their price target on AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, September 4th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $30.74.

AT&T Stock Down 0.8%

Shares of AT&T stock opened at $28.07 on Tuesday. The business’s 50 day simple moving average is $28.62 and its 200 day simple moving average is $27.91. AT&T Inc. has a 52-week low of $21.05 and a 52-week high of $29.79. The firm has a market cap of $200.71 billion, a PE ratio of 15.95, a P/E/G ratio of 3.62 and a beta of 0.44. 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 announced its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.01. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The business had revenue of $30.85 billion for the quarter, compared to analyst estimates of $30.44 billion. During the same quarter last year, the firm earned $0.51 EPS. AT&T’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Friday, October 10th. AT&T’s dividend payout ratio (DPR) is currently 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.