Integrated Wealth Concepts LLC Has $8.50 Million Holdings in AT&T Inc. $T

Key Points

• Integrated Wealth Concepts LLC increased its stake in AT&T by 9.6% during Q1, owning 300,658 shares worth approximately $8.5 million.
• AT&T reported $0.54 earnings per share for the last quarter, exceeding estimates of $0.53, with a net margin of 10.29% and a 3.4% year-over-year revenue increase.
• The firm declared a quarterly dividend of $0.2775, equating to an annualized yield of 3.8% and a payout ratio of 63.07%.

Integrated Wealth Concepts LLC grew its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 9.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 300,658 shares of the technology company's stock after purchasing an additional 26,410 shares during the quarter. Integrated Wealth Concepts LLC's holdings in AT&T were worth $8,503,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the stock. Brighton Jones LLC lifted its position in AT&T by 26.5% in the 4th quarter. Brighton Jones LLC now owns 48,579 shares of the technology company's stock valued at $1,106,000 after purchasing an additional 10,188 shares during the last quarter. Yoffe Investment Management LLC acquired a new position in AT&T during the 4th quarter valued at about $213,000. CoreCap Advisors LLC boosted its stake in AT&T by 23.9% during the 4th quarter. CoreCap Advisors LLC now owns 64,841 shares of the technology company's stock valued at $1,476,000 after purchasing an additional 12,489 shares during the period. EP Wealth Advisors LLC boosted its stake in AT&T by 31.7% during the 4th quarter. EP Wealth Advisors LLC now owns 205,279 shares of the technology company's stock valued at $4,674,000 after purchasing an additional 49,386 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in AT&T by 455.1% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,990,732 shares of the technology company's stock valued at $45,329,000 after purchasing an additional 1,632,098 shares during the period. Institutional investors own 57.10% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on T shares. 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 research note on Thursday, July 10th. Raymond James Financial reissued a "strong-buy" rating and set a $31.00 target price (up previously from $30.00) on shares of AT&T in a research note on Thursday, July 24th. Morgan Stanley raised their target price on shares of AT&T from $31.00 to $32.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Citigroup reaffirmed a "buy" rating on shares of AT&T in a report on Tuesday, August 26th. Finally, Scotiabank boosted 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. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, AT&T presently has a consensus rating of "Moderate Buy" and an average target price of $30.60.

AT&T Price Performance

Shares of AT&T stock traded down $0.69 during midday trading on Monday, reaching $28.91. The company had a trading volume of 40,572,915 shares, compared to its average volume of 27,213,860. The stock has a fifty day simple moving average of $28.23 and a 200 day simple moving average of $27.65. AT&T Inc. has a 1-year low of $20.92 and a 1-year high of $29.79. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $206.68 billion, a price-to-earnings ratio of 16.42, a price-to-earnings-growth ratio of 3.66 and a beta of 0.44.

AT&T (NYSE:T - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $30.85 billion for the quarter, compared to the consensus estimate of $30.44 billion. During the same quarter in the prior year, the business earned $0.51 EPS. The business's revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, equities research analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were issued a dividend of $0.2775 per share. The ex-dividend date was Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 3.8%. AT&T's 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.