22,690 Shares in AT&T Inc. $T Purchased by Secured Retirement Advisors LLC

Key Points

• Secured Retirement Advisors LLC purchased 22,690 shares of AT&T Inc. for approximately $657,000, signifying growing institutional interest in the company.
• AT&T recently announced a quarterly dividend of $0.2775 per share, yielding about 4.2%, with a payout ratio of 63.07%.
• In the latest earnings report, AT&T exceeded earnings expectations, posting $0.54 earnings per share on revenues of $30.85 billion, reflecting a year-over-year revenue increase of 3.4%.

Secured Retirement Advisors LLC acquired a new position in shares of AT&T Inc. (NYSE:T - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 22,690 shares of the technology company's stock, valued at approximately $657,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of T. Stone House Investment Management LLC acquired a new stake in shares of AT&T during the 1st quarter worth about $25,000. O Brien Wealth Partners LLC acquired a new position in AT&T in the 2nd quarter valued at about $26,000. Hager Investment Management Services LLC grew its position in AT&T by 182.1% in the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company's stock valued at $28,000 after acquiring an additional 641 shares in the last quarter. Kennebec Savings Bank grew its position in AT&T by 412.1% in the 2nd quarter. Kennebec Savings Bank now owns 973 shares of the technology company's stock valued at $28,000 after acquiring an additional 783 shares in the last quarter. Finally, Core Alternative Capital grew its position in AT&T by 125.4% in the 1st quarter. Core Alternative Capital now owns 1,021 shares of the technology company's stock valued at $29,000 after acquiring an additional 568 shares in the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Stock Performance

Shares of T opened at $26.13 on Wednesday. The stock has a 50-day simple moving average of $28.54 and a 200-day simple moving average of $27.91. The stock has a market capitalization of $186.85 billion, a PE ratio of 14.85, a PEG ratio of 3.31 and a beta of 0.42. AT&T Inc. has a 1 year low of $21.05 and a 1 year high of $29.79. 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 - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.01. The firm had revenue of $30.85 billion during the quarter, compared to analysts' expectations of $30.44 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The firm's revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.51 earnings per share. 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 firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be paid a dividend of $0.2775 per share. The ex-dividend date is Friday, October 10th. This represents a $1.11 annualized dividend and a yield of 4.2%. AT&T's payout ratio is presently 63.07%.

Analysts Set New Price Targets

Several equities analysts have weighed in on T shares. Hsbc Global Res downgraded AT&T from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 24th. Sanford C. Bernstein lifted their target price on AT&T from $31.00 to $32.00 and gave the company an "outperform" rating in a research report on Thursday, September 4th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of AT&T in a research report on Saturday, September 27th. Morgan Stanley lifted their target price on AT&T from $31.00 to $32.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Finally, Citigroup reiterated a "buy" rating on shares of AT&T in a research note on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $30.75.

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.

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