AT&T Inc. $T is St. Louis Financial Planners Asset Management LLC's 7th Largest Position

St. Louis Financial Planners Asset Management LLC increased its stake in AT&T Inc. (NYSE:T - Free Report) by 874.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 126,404 shares of the technology company's stock after acquiring an additional 113,429 shares during the quarter. AT&T makes up about 2.8% of St. Louis Financial Planners Asset Management LLC's portfolio, making the stock its 7th biggest holding. St. Louis Financial Planners Asset Management LLC's holdings in AT&T were worth $3,658,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the business. Riversedge Advisors LLC grew its holdings in shares of AT&T by 6.3% during the second quarter. Riversedge Advisors LLC now owns 12,681 shares of the technology company's stock worth $367,000 after buying an additional 757 shares in the last quarter. Reyes Financial Architecture Inc. grew its holdings in shares of AT&T by 591.5% in the second quarter. Reyes Financial Architecture Inc. now owns 1,867 shares of the technology company's stock valued at $54,000 after purchasing an additional 1,597 shares during the period. Czech National Bank grew its holdings in shares of AT&T by 6.7% in the second quarter. Czech National Bank now owns 1,758,860 shares of the technology company's stock valued at $50,901,000 after purchasing an additional 110,142 shares during the period. Sard Wealth Management Group LLC lifted its position in AT&T by 7.0% in the second quarter. Sard Wealth Management Group LLC now owns 17,508 shares of the technology company's stock valued at $507,000 after buying an additional 1,146 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its position in AT&T by 26.5% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 42,762 shares of the technology company's stock valued at $1,238,000 after buying an additional 8,971 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company's stock.

Analysts Set New Price Targets

T has been the subject of several recent research reports. JPMorgan Chase & Co. raised their price objective on shares of AT&T from $31.00 to $33.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Wells Fargo & Company raised their target price on shares of AT&T from $30.00 to $31.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Sanford C. Bernstein raised their target price on shares of AT&T from $31.00 to $32.00 and gave the company an "outperform" rating in a report on Thursday, September 4th. The Goldman Sachs Group initiated coverage on shares of AT&T in a research note on Tuesday, September 2nd. They issued a "buy" rating and a $32.00 price target on the stock. Finally, HSBC lowered shares of AT&T from a "buy" rating to a "hold" rating and set a $30.00 price target on the stock. in a research note on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $30.60.

AT&T Trading Up 0.3%

Shares of T stock opened at $29.66 on Tuesday. The stock has a 50-day simple moving average of $28.33 and a 200 day simple moving average of $27.76. AT&T Inc. has a fifty-two week low of $21.05 and a fifty-two week high of $29.79. The stock has a market capitalization of $212.08 billion, a P/E ratio of 16.85, a P/E/G ratio of 3.68 and a beta of 0.44. The company has a quick ratio of 0.76, a current ratio of 0.81 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 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 analysts' expectations of $30.44 billion. During the same quarter last year, the business posted $0.51 earnings per share. The company's quarterly revenue was up 3.4% on a year-over-year basis. On average, sell-side analysts expect that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were given a $0.2775 dividend. The ex-dividend date was Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.7%. AT&T's dividend payout ratio (DPR) is 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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