Apollon Wealth Management LLC Acquires 50,790 Shares of AT&T Inc. $T

Key Points

• Apollon Wealth Management LLC has increased its stake in AT&T Inc. by 22.7%, acquiring an additional 50,790 shares, bringing its total to 274,974 shares valued at approximately $7.96 million.
• AT&T announced a quarterly dividend of $0.2775 per share, to be paid on November 3rd, with a dividend yield of 4.3% and a payout ratio of 63.07%.
• Equity research analysts have given AT&T a consensus rating of "Moderate Buy" with an average price target of $30.75, reflecting optimism among investors following its recent earnings report.

Apollon Wealth Management LLC raised its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 22.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 274,974 shares of the technology company's stock after acquiring an additional 50,790 shares during the quarter. Apollon Wealth Management LLC's holdings in AT&T were worth $7,958,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in T. Brighton Jones LLC increased its holdings in shares of AT&T by 26.5% in the fourth quarter. Brighton Jones LLC now owns 48,579 shares of the technology company's stock worth $1,106,000 after purchasing an additional 10,188 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of AT&T by 15.5% in the first quarter. GAMMA Investing LLC now owns 165,258 shares of the technology company's stock worth $4,673,000 after purchasing an additional 22,195 shares during the last quarter. Focus Financial Network Inc. increased its holdings in shares of AT&T by 5.4% in the first quarter. Focus Financial Network Inc. now owns 20,679 shares of the technology company's stock worth $585,000 after purchasing an additional 1,054 shares during the last quarter. Capital Advisors Ltd. LLC increased its holdings in shares of AT&T by 13.8% in the first quarter. Capital Advisors Ltd. LLC now owns 5,485 shares of the technology company's stock worth $155,000 after purchasing an additional 667 shares during the last quarter. Finally, Fifth Third Bancorp increased its holdings in shares of AT&T by 1.4% in the first quarter. Fifth Third Bancorp now owns 933,782 shares of the technology company's stock worth $26,407,000 after purchasing an additional 12,927 shares during the last quarter. 57.10% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on T shares. Barclays reaffirmed an "equal weight" rating and issued a $30.00 target price on shares of AT&T in a report on Wednesday, October 1st. Sanford C. Bernstein lifted their target price on AT&T from $31.00 to $32.00 and gave the stock an "outperform" rating in a report on Thursday, September 4th. Bank of America initiated coverage on AT&T in a research report on Monday, July 7th. They issued a "buy" rating and a $32.00 price target for the company. Wells Fargo & Company lifted their price target on AT&T from $30.00 to $31.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Finally, UBS Group set a $33.00 price target on AT&T in a research report on Thursday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $30.75.

AT&T Trading Down 1.0%

T opened at $25.85 on Friday. AT&T Inc. has a 12 month low of $21.05 and a 12 month high of $29.79. The stock has a 50-day moving average of $28.45 and a 200 day moving average of $27.88. The firm has a market cap of $184.82 billion, a P/E ratio of 14.69, a P/E/G ratio of 2.12 and a beta of 0.42. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01.

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

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Friday, October 10th. AT&T's payout ratio is 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.

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