Ascent Group LLC Increases Stock Holdings in AT&T Inc. $T

Key Points

• Ascent Group LLC increased its holdings in AT&T Inc. by 3.1%, owning 310,547 shares worth approximately $8,987,000 as of the latest SEC filing.
• Multiple institutional investors have also expanded their positions in AT&T, with HighMark Wealth Management increasing their stake by 20.5% during the same period.
• AT&T declared a quarterly dividend of $0.2775 per share, representing an annualized yield of 4.1%, scheduled for payment on November 3rd.

Ascent Group LLC increased its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 3.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 310,547 shares of the technology company's stock after buying an additional 9,470 shares during the quarter. Ascent Group LLC's holdings in AT&T were worth $8,987,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. HighMark Wealth Management LLC grew its stake in AT&T by 20.5% during the 2nd quarter. HighMark Wealth Management LLC now owns 2,904 shares of the technology company's stock worth $84,000 after buying an additional 494 shares during the last quarter. Yeomans Consulting Group Inc. grew its stake in AT&T by 6.7% during the 2nd quarter. Yeomans Consulting Group Inc. now owns 12,127 shares of the technology company's stock worth $350,000 after buying an additional 761 shares during the last quarter. 1900 Wealth Management LLC grew its stake in AT&T by 4.3% during the 2nd quarter. 1900 Wealth Management LLC now owns 15,402 shares of the technology company's stock worth $446,000 after buying an additional 635 shares during the last quarter. Synergy Asset Management LLC purchased a new position in AT&T during the 2nd quarter worth $208,000. Finally, Hilltop National Bank purchased a new stake in AT&T during the 2nd quarter valued at about $590,000. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Bank of America assumed coverage on AT&T in a research note on Monday, July 7th. They set a "buy" rating and a $32.00 price target on the stock. Wells Fargo & Company boosted their price target on AT&T from $30.00 to $31.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Scotiabank boosted their price target on AT&T from $29.50 to $30.00 and gave the company a "sector outperform" rating in a research note on Friday, July 11th. The Goldman Sachs Group assumed coverage on AT&T in a research note on Tuesday, September 2nd. They set a "buy" rating and a $32.00 price target on the stock. Finally, Morgan Stanley boosted their price target on AT&T from $31.00 to $32.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $30.74.

AT&T Stock Up 0.2%

Shares of T opened at $27.06 on Friday. 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 capitalization of $193.49 billion, a price-to-earnings ratio of 15.38, a PEG ratio of 3.46 and a beta of 0.42. The stock's 50-day moving average price is $28.60 and its 200-day moving average price is $27.91.

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

AT&T Dividend Announcement

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 $0.2775 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.1%. AT&T's dividend payout ratio is presently 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.

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