MBL Wealth LLC Makes New Investment in AT&T Inc. $T

Key Points

• MBL Wealth LLC has acquired 10,455 shares of AT&T Inc., worth approximately $296,000, as indicated in their latest Form 13F filing with the SEC.
• Several institutional investors, including AllSquare Wealth Management LLC and Kozak & Associates Inc., have increased their stakes in AT&T, reflecting a growing interest in the company.
• Wall Street analysts have a positive outlook on AT&T, with multiple firms raising their price targets, contributing to a consensus rating of "Moderate Buy" and an average price target of $30.60.

MBL Wealth LLC purchased a new position in AT&T Inc. (NYSE:T - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 10,455 shares of the technology company's stock, valued at approximately $296,000.

A number of other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in AT&T by 1.3% in the first quarter. Vanguard Group Inc. now owns 651,044,650 shares of the technology company's stock worth $18,411,543,000 after purchasing an additional 8,185,006 shares in the last quarter. GQG Partners LLC lifted its holdings 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 acquiring an additional 17,177,874 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in AT&T by 3.3% in 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in AT&T by 31.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,432,827 shares of the technology company's stock worth $1,216,665,000 after acquiring an additional 12,881,578 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in AT&T by 2.5% in the first quarter. Dimensional Fund Advisors LP now owns 53,339,376 shares of the technology company's stock worth $1,508,411,000 after acquiring an additional 1,307,009 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on T shares. Raymond James Financial reissued a "strong-buy" rating and issued a $31.00 target price (up previously from $30.00) on shares of AT&T in a report on Thursday, July 24th. JPMorgan Chase & Co. raised their target price on shares of AT&T from $31.00 to $33.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Sanford C. Bernstein raised their target price on shares of AT&T from $31.00 to $32.00 and gave the stock an "outperform" rating in a report on Thursday, September 4th. Scotiabank raised their target price on shares of AT&T from $29.50 to $30.00 and gave the stock a "sector outperform" rating in a report on Friday, July 11th. Finally, UBS Group set a $32.00 target price on shares of AT&T in a report on Thursday, September 4th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $30.60.

AT&T Price Performance

AT&T stock traded up $0.10 during mid-day trading on Friday, hitting $29.59. The company's stock had a trading volume of 22,789,775 shares, compared to its average volume of 28,351,510. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $211.58 billion, a P/E ratio of 16.81, a P/E/G ratio of 3.67 and a beta of 0.44. AT&T Inc. has a twelve month low of $21.05 and a twelve month high of $29.79. The stock's fifty day moving average price is $28.31 and its two-hundred day moving average price is $27.73.

AT&T (NYSE:T - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.01. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The firm had revenue of $30.85 billion for the quarter, compared to analyst estimates of $30.44 billion. During the same quarter in the previous year, the business posted $0.51 earnings per share. The firm's quarterly revenue was up 3.4% compared to the same quarter last year. Research analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

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

AT&T Company 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.