Empirical Financial Services LLC d.b.a. Empirical Wealth Management Buys 130,595 Shares of AT&T Inc. (NYSE:T)

Key Points

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Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in AT&T Inc. (NYSE:T - Free Report) by 65.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 331,469 shares of the technology company's stock after purchasing an additional 130,595 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in AT&T were worth $9,374,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of T. AllSquare Wealth Management LLC boosted its stake in shares of AT&T by 7.1% in the 1st quarter. AllSquare Wealth Management LLC now owns 5,704 shares of the technology company's stock worth $161,000 after buying an additional 378 shares during the last quarter. Next Level Private LLC lifted its holdings in AT&T by 0.3% during the first quarter. Next Level Private LLC now owns 113,379 shares of the technology company's stock worth $3,206,000 after acquiring an additional 379 shares during the period. Carolinas Wealth Consulting LLC boosted 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 last quarter. Kozak & Associates Inc. grew its stake in AT&T by 9.4% in the 1st quarter. Kozak & Associates Inc. now owns 4,617 shares of the technology company's stock valued at $126,000 after purchasing an additional 398 shares during the period. Finally, Silver Oak Securities Incorporated grew its stake 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 purchasing an additional 398 shares during the period. Institutional investors own 57.10% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on T shares. Wall Street Zen upgraded AT&T from a "hold" rating to a "buy" rating in a research note on Friday, April 25th. JPMorgan Chase & Co. lifted their price objective on shares of AT&T from $31.00 to $33.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. HSBC cut shares of AT&T from a "buy" rating to a "hold" rating and set a $30.00 target price on the stock. in a research note on Thursday, July 24th. Morgan Stanley raised their price target on shares of AT&T from $31.00 to $32.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Finally, Hsbc Global Res downgraded AT&T from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $29.66.

AT&T Price Performance

AT&T stock traded up $0.14 during midday trading on Friday, reaching $27.55. 9,027,133 shares of the stock were exchanged, compared to its average volume of 37,783,730. AT&T Inc. has a 52 week low of $18.64 and a 52 week high of $29.19. 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 has a market cap of $196.96 billion, a PE ratio of 15.64, a PEG ratio of 3.41 and a beta of 0.42. The company's fifty day moving average is $27.80 and its 200-day moving average is $26.77.

AT&T (NYSE:T - Get Free Report) last released its quarterly 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. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The firm had revenue of $30.85 billion for the quarter, compared to analysts' expectations of $30.44 billion. During the same quarter in the prior year, the firm posted $0.51 earnings per share. The business's quarterly revenue was up 3.4% on a year-over-year basis. On average, sell-side analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be issued a $0.2775 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.0%. AT&T's dividend payout ratio (DPR) is presently 63.07%.

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.