FAS Wealth Partners Inc. Acquires 586 Shares of AT&T Inc. (NYSE:T)

FAS Wealth Partners Inc. raised its holdings in shares of AT&T Inc. (NYSE:T) by 1.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,692 shares of the technology company’s stock after purchasing an additional 586 shares during the quarter. FAS Wealth Partners Inc.’s holdings in AT&T were worth $625,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of T. Frank Rimerman Advisors LLC bought a new stake in shares of AT&T in the 4th quarter worth $25,000. Pineridge Advisors LLC bought a new stake in shares of AT&T in the 4th quarter worth $25,000. Riggs Asset Managment Co. Inc. grew its stake in shares of AT&T by 356.5% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after acquiring an additional 1,116 shares in the last quarter. First Pacific Financial grew its stake in shares of AT&T by 166.7% in the 1st quarter. First Pacific Financial now owns 1,600 shares of the technology company’s stock worth $28,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its stake in shares of AT&T by 176.6% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock worth $35,000 after acquiring an additional 1,192 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

T traded down $0.05 on Thursday, reaching $19.77. The company had a trading volume of 20,769,441 shares, compared to its average volume of 35,525,402. The business has a 50 day simple moving average of $19.07 and a 200 day simple moving average of $17.85. The company has a market cap of $141.75 billion, a price-to-earnings ratio of 10.63, a P/E/G ratio of 3.26 and a beta of 0.58. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. AT&T Inc. has a 52-week low of $14.12 and a 52-week high of $19.99.

AT&T (NYSE:T) last announced its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.57. The business had revenue of $29.80 billion for the quarter, compared to the consensus estimate of $30.05 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. AT&T’s quarterly revenue was down .3% on a year-over-year basis. During the same period last year, the firm posted $0.63 earnings per share. As a group, sell-side analysts anticipate that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 5.61%. The ex-dividend date was Wednesday, July 10th. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on T. Moffett Nathanson upped their target price on shares of AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. BNP Paribas raised shares of AT&T from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 11th. Daiwa America raised shares of AT&T to a “hold” rating in a report on Friday, July 26th. TD Cowen boosted their price target on shares of AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Finally, UBS Group reissued a “buy” rating and issued a $24.00 price target on shares of AT&T in a report on Tuesday, June 18th. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, AT&T currently has a consensus rating of “Moderate Buy” and an average price target of $22.06.

AT&T Company Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.