AAFMAA Wealth Management & Trust LLC Buys Shares of 61,866 AT&T Inc. $T

Key Points

• AAFMAA Wealth Management & Trust LLC purchased 61,866 shares of AT&T Inc., valued at approximately $1,790,000, during the second quarter, indicating a growing interest in the telecom stock among institutional investors.
• AT&T reported a quarterly EPS of $0.54, slightly exceeding analysts' expectations of $0.53, with revenues up 3.4% year-over-year to $30.85 billion.
• The company declared a quarterly dividend of $0.2775 per share, representing an annualized yield of 3.9%, with a payout ratio of 63.07%.

AAFMAA Wealth Management & Trust LLC purchased a new position in AT&T Inc. (NYSE:T - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 61,866 shares of the technology company's stock, valued at approximately $1,790,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in T. David J Yvars Group raised its position in AT&T by 2.8% during the second quarter. David J Yvars Group now owns 13,884 shares of the technology company's stock valued at $402,000 after purchasing an additional 372 shares in the last quarter. AllSquare Wealth Management LLC increased its position in shares of AT&T by 7.1% during the 1st quarter. AllSquare Wealth Management LLC now owns 5,704 shares of the technology company's stock valued at $161,000 after purchasing an additional 378 shares during the last quarter. Next Level Private LLC increased its position in shares of AT&T by 0.3% during the 1st quarter. Next Level Private LLC now owns 113,379 shares of the technology company's stock valued at $3,206,000 after purchasing an additional 379 shares during the last quarter. Barnes Wealth Management Group Inc raised its holdings in shares of AT&T by 2.6% during the 1st quarter. Barnes Wealth Management Group Inc now owns 15,027 shares of the technology company's stock valued at $425,000 after buying an additional 380 shares in the last quarter. Finally, James J. Burns & Company LLC lifted its position in AT&T by 1.0% in the 2nd quarter. James J. Burns & Company LLC now owns 40,362 shares of the technology company's stock worth $1,168,000 after buying an additional 383 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company's stock.

AT&T Stock Down 0.0%

Shares of NYSE T opened at $28.31 on Friday. The firm's fifty day moving average is $28.58 and its 200 day moving average is $27.86. AT&T Inc. has a 52 week low of $21.05 and a 52 week high of $29.79. 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 company has a market cap of $202.42 billion, a price-to-earnings ratio of 16.08, a PEG ratio of 3.63 and a beta of 0.44.

AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.53 by $0.01. AT&T had a net margin of 10.29% and a return on equity of 13.36%. 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. The company's revenue was up 3.4% on a year-over-year basis. On average, equities research analysts expect that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Friday, October 10th. AT&T's payout ratio is currently 63.07%.

Analysts Set New Price Targets

A number of brokerages have commented on T. Wells Fargo & Company increased their price target on shares of AT&T from $30.00 to $31.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Bank of America assumed coverage on shares of AT&T in a research note on Monday, July 7th. They issued a "buy" rating and a $32.00 price objective for the company. HSBC lowered shares of AT&T from a "buy" rating to a "hold" rating and set a $30.00 target price on the stock. in a report on Thursday, July 24th. Scotiabank boosted their price target on shares of AT&T from $29.50 to $30.00 and gave the stock a "sector outperform" rating in a research note on Friday, July 11th. Finally, Raymond James Financial restated a "strong-buy" rating and set a $33.00 price target (up from $31.00) on shares of AT&T in a research report on Thursday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, AT&T presently has an average rating of "Moderate Buy" and an average price target of $30.74.

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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