Aegis Wealth Management LLC Makes New $441,000 Investment in AT&T Inc. (NYSE:T)

Key Points

• Aegis Wealth Management LLC has acquired a new stake in AT&T, purchasing 15,597 shares valued at approximately $441,000 during the first quarter of the year.
• Several analysts have recently raised their price targets for AT&T, with Evercore ISI setting a new target of $27.00 and Tigress Financial raising theirs to $34.00, reflecting positive sentiment towards the stock.
• AT&T recently announced a quarterly dividend of $0.2775, translating to an annualized yield of 4.05% for shareholders of record, which demonstrates the company's strong commitment to returning value to its investors.

Aegis Wealth Management LLC acquired a new position in AT&T Inc. (NYSE:T - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 15,597 shares of the technology company's stock, valued at approximately $441,000.

Several other large investors have also made changes to their positions in the business. AllSquare Wealth Management LLC grew its holdings 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 worth $161,000 after purchasing an additional 378 shares in the last quarter. Next Level Private LLC raised its stake in shares of AT&T by 0.3% in the first 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 in the last quarter. Carolinas Wealth Consulting LLC lifted its position in AT&T by 1.6% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 24,161 shares of the technology company's stock worth $550,000 after purchasing an additional 384 shares during the period. Kozak & Associates Inc. boosted its stake in AT&T by 9.4% during the first quarter. Kozak & Associates Inc. now owns 4,617 shares of the technology company's stock worth $126,000 after buying an additional 398 shares in the last quarter. Finally, Silver Oak Securities Incorporated increased its holdings in AT&T by 0.3% in the 1st quarter. Silver Oak Securities Incorporated now owns 114,324 shares of the technology company's stock valued at $3,222,000 after buying an additional 398 shares during the period. Institutional investors and hedge funds own 57.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Wells Fargo & Company lifted their target price 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. Hsbc Global Res cut shares of AT&T from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 24th. Cowen reaffirmed a "hold" rating on shares of AT&T in a report on Thursday, April 24th. HSBC cut AT&T from a "buy" rating to a "hold" rating and set a $30.00 target price for the company. in a report on Thursday, July 24th. Finally, Bank of America began coverage on AT&T in a research report on Monday, July 7th. They set a "buy" rating and a $32.00 target price for the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, AT&T presently has a consensus rating of "Moderate Buy" and an average target price of $29.66.

AT&T Price Performance

T traded up $0.09 during midday trading on Wednesday, hitting $27.50. The company had a trading volume of 30,063,016 shares, compared to its average volume of 31,821,926. AT&T Inc. has a twelve month low of $18.64 and a twelve month high of $29.19. The company has a market capitalization of $196.64 billion, a PE ratio of 15.63, a P/E/G ratio of 3.40 and a beta of 0.42. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81. The firm's 50-day simple moving average is $27.79 and its 200-day simple moving average is $26.73.

AT&T (NYSE:T - Get Free Report) last released its earnings results on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.53 by $0.01. The company 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 business's revenue for the quarter was up 3.4% on a year-over-year basis. During the same period last year, the firm earned $0.51 EPS. Equities research analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be given a dividend of $0.2775 per share. The ex-dividend date is Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.04%. AT&T's payout ratio is presently 63.07%.

About AT&T

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.