AT&T Inc. $T Shares Purchased by Opal Wealth Advisors LLC

Key Points

• Opal Wealth Advisors LLC increased its stake in AT&T by 89.1% in the second quarter, now holding 27,546 shares worth approximately $797,000.
• AT&T reported a quarterly EPS of $0.54, exceeding expectations, with revenues of $30.85 billion, showcasing a 3.4% year-over-year growth.
• The firm recently announced a quarterly dividend of $0.2775, yielding around 3.8%, with a payout ratio of 63.07%.

Opal Wealth Advisors LLC lifted its position in AT&T Inc. (NYSE:T - Free Report) by 89.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,546 shares of the technology company's stock after purchasing an additional 12,977 shares during the period. Opal Wealth Advisors LLC's holdings in AT&T were worth $797,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in T. Capstone Wealth Management LLC purchased a new stake in shares of AT&T during the first quarter worth $201,000. Wedmont Private Capital grew its holdings in shares of AT&T by 7.9% during the first quarter. Wedmont Private Capital now owns 123,247 shares of the technology company's stock worth $3,302,000 after buying an additional 9,027 shares in the last quarter. Xponance Inc. grew its holdings in shares of AT&T by 10.2% during the first quarter. Xponance Inc. now owns 1,109,933 shares of the technology company's stock worth $31,389,000 after buying an additional 102,419 shares in the last quarter. NBT Bank N A NY grew its holdings in shares of AT&T by 7.5% in the first quarter. NBT Bank N A NY now owns 129,428 shares of the technology company's stock valued at $3,660,000 after purchasing an additional 8,989 shares during the period. Finally, Park Edge Advisors LLC purchased a new stake in shares of AT&T in the first quarter valued at about $1,000,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on T. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $33.00 target price (up previously from $31.00) on shares of AT&T in a research report on Thursday. The Goldman Sachs Group initiated coverage on shares of AT&T in a research report on Tuesday, September 2nd. They issued a "buy" rating and a $32.00 target price on the stock. Scotiabank increased their price target on shares of AT&T from $29.50 to $30.00 and gave the stock a "sector outperform" rating in a research report on Friday, July 11th. HSBC cut 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 report on Thursday, July 24th. Finally, Morgan Stanley increased their price target on shares of AT&T from $31.00 to $32.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, AT&T currently has an average rating of "Moderate Buy" and a consensus target price of $30.74.

AT&T Stock Performance

Shares of AT&T stock opened at $28.92 on Tuesday. The firm has a market capitalization of $206.79 billion, a P/E ratio of 16.43, a P/E/G ratio of 3.59 and a beta of 0.44. 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 firm's 50 day moving average is $28.49 and its two-hundred day moving average is $27.84.

AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.53 by $0.01. The company had revenue of $30.85 billion for 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% on a year-over-year basis. During the same period in the prior year, the firm posted $0.51 earnings per share. Research analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 3.8%. The ex-dividend date was Thursday, July 10th. AT&T's dividend payout ratio is currently 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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