BCS Wealth Management Grows Position in AT&T Inc. $T

Key Points

• BCS Wealth Management increased its stake in AT&T Inc. by 20.6% during the second quarter, owning a total of 57,858 shares valued at approximately $1.67 million.
• Several large investors are also increasing their positions in AT&T, with new stakes purchased and existing holdings significantly lifted, indicating growing institutional interest in the company.
• Brokerages have issued diverse ratings and price targets for AT&T, with Wells Fargo raising its target to $31.00 and Bank of America assigning a $32.00 target, reflecting overall positive sentiment about the stock's performance.

BCS Wealth Management raised its position in AT&T Inc. (NYSE:T - Free Report) by 20.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 57,858 shares of the technology company's stock after acquiring an additional 9,900 shares during the quarter. BCS Wealth Management's holdings in AT&T were worth $1,674,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Stone House Investment Management LLC purchased a new stake in shares of AT&T during the 1st quarter worth $25,000. O Brien Wealth Partners LLC purchased a new stake in AT&T during the 2nd quarter worth about $26,000. Hager Investment Management Services LLC lifted its holdings in AT&T by 182.1% during the 1st 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 last quarter. IMA Advisory Services Inc. acquired a new position in shares of AT&T during the 1st quarter worth about $29,000. Finally, Core Alternative Capital increased its holdings in shares of AT&T by 125.4% in the 1st quarter. Core Alternative Capital now owns 1,021 shares of the technology company's stock valued at $29,000 after acquiring an additional 568 shares during the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on T. Wells Fargo & Company upped their price target on AT&T from $30.00 to $31.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Bank of America began coverage on shares of AT&T in a research report on Monday, July 7th. They issued a "buy" rating and a $32.00 target price on the stock. Hsbc Global Res lowered shares of AT&T from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 24th. Raymond James Financial restated a "strong-buy" rating and issued a $33.00 price objective (up previously from $31.00) on shares of AT&T in a research note on Thursday, September 18th. Finally, Citigroup reaffirmed a "buy" rating on shares of AT&T in a report on Tuesday, August 26th. One research 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $30.74.

AT&T Trading Down 0.5%

NYSE:T opened at $28.78 on Wednesday. The stock has a fifty day moving average price of $28.52 and a two-hundred day moving average price of $27.85. 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 stock has a market capitalization of $205.75 billion, a price-to-earnings ratio of 16.35, a PEG ratio of 3.58 and a beta of 0.44. AT&T Inc. has a 1 year low of $21.05 and a 1 year high of $29.79.

AT&T (NYSE:T - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $30.44 billion. During the same quarter in the previous year, the firm earned $0.51 earnings per share. The firm's revenue was up 3.4% on a year-over-year basis. As a group, sell-side analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

About AT&T

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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