Focus Partners Wealth Acquires 51,864 Shares of AT&T Inc. $T

Key Points

• Focus Partners Wealth increased its holdings in AT&T Inc. by 4.2% during the first quarter, now owning over 1.28 million shares worth approximately $36.4 million.
• AT&T reported earnings of $0.54 per share and revenue of $30.85 billion for the last quarter, surpassing analyst expectations.
• The company recently declared a quarterly dividend of $0.2775 per share, representing an annual yield of 3.8% and a payout ratio of 63.07%.

Focus Partners Wealth grew its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 4.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,287,754 shares of the technology company's stock after purchasing an additional 51,864 shares during the period. Focus Partners Wealth's holdings in AT&T were worth $36,418,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Stone House Investment Management LLC bought a new position in shares of AT&T during the 1st quarter valued at about $25,000. Hager Investment Management Services LLC boosted its holdings in shares of AT&T by 182.1% in the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company's stock worth $28,000 after buying an additional 641 shares during the period. IMA Advisory Services Inc. acquired a new position in shares of AT&T in the first quarter worth about $29,000. Core Alternative Capital boosted its holdings in shares of AT&T by 125.4% in the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company's stock worth $29,000 after buying an additional 568 shares during the period. Finally, Capital A Wealth Management LLC acquired a new position in shares of AT&T in the fourth quarter worth about $25,000. Institutional investors own 57.10% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Bank of America assumed coverage on shares of AT&T in a report on Monday, July 7th. They issued a "buy" rating and a $32.00 target price for the company. Scotiabank raised their target price on shares of AT&T from $29.50 to $30.00 and gave the stock a "sector outperform" rating in a report on Friday, July 11th. Raymond James Financial reiterated a "strong-buy" rating and issued a $31.00 target price (up from $30.00) on shares of AT&T in a report 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 stock an "overweight" rating in a report on Thursday, July 10th. Finally, UBS Group set a $32.00 target price on shares of AT&T in a report on Thursday, September 4th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, AT&T currently has a consensus rating of "Moderate Buy" and an average target price of $30.60.

AT&T Stock Up 0.3%

Shares of NYSE T traded up $0.10 during mid-day trading on Friday, reaching $29.59. The company had a trading volume of 22,789,775 shares, compared to its average volume of 28,351,510. The stock has a fifty day moving average of $28.31 and a two-hundred day moving average of $27.73. 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 company has a market capitalization of $211.58 billion, a price-to-earnings ratio of 16.81, a PEG ratio of 3.67 and a beta of 0.44. AT&T Inc. has a 12-month low of $21.05 and a 12-month high of $29.79.

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

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Thursday, July 10th. AT&T's dividend payout ratio (DPR) 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.