Beacon Financial Advisory LLC Purchases 19,561 Shares of AT&T Inc. $T

Key Points

• Beacon Financial Advisory LLC increased its stake in AT&T by 66.9% by acquiring an additional 19,561 shares in the second quarter, bringing its total holdings to 48,785 shares worth approximately $1.41 million.
• Several prominent investors, including Vanguard Group and Kingstone Capital Partners, have also recently expanded their positions in AT&T, indicating significant institutional interest in the stock.
• Wall Street analysts have given AT&T a consensus rating of "Moderate Buy" with an average target price of $30.74, suggesting potential price appreciation based on recent performance and forecasts.

Beacon Financial Advisory LLC lifted its stake in AT&T Inc. (NYSE:T - Free Report) by 66.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 48,785 shares of the technology company's stock after acquiring an additional 19,561 shares during the quarter. Beacon Financial Advisory LLC's holdings in AT&T were worth $1,412,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of AT&T by 1.3% in the first quarter. Vanguard Group Inc. now owns 651,044,650 shares of the technology company's stock worth $18,411,543,000 after acquiring an additional 8,185,006 shares during the period. Kingstone Capital Partners Texas LLC bought a new stake in shares of AT&T in the second quarter worth approximately $5,266,758,000. GQG Partners LLC grew its stake in shares of AT&T by 17.7% in the first quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company's stock worth $3,222,711,000 after acquiring an additional 17,177,874 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of AT&T by 3.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 55,216,190 shares of the technology company's stock worth $1,561,514,000 after acquiring an additional 1,783,363 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of AT&T by 2.5% in the first quarter. Dimensional Fund Advisors LP now owns 53,339,376 shares of the technology company's stock worth $1,508,411,000 after acquiring an additional 1,307,009 shares during the period. 57.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. The Goldman Sachs Group assumed 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 for the company. Raymond James Financial restated a "strong-buy" rating and set a $33.00 target price (up from $31.00) on shares of AT&T in a research report on Thursday, September 18th. Barclays restated an "equal weight" rating and set a $30.00 target price on shares of AT&T in a research report on Wednesday. Scotiabank boosted their target price on shares of AT&T from $29.50 to $30.00 and gave the company a "sector outperform" rating in a research report on Friday, July 11th. Finally, Bank of America assumed coverage on shares of AT&T in a research report on Monday, July 7th. They set a "buy" rating and a $32.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $30.74.

AT&T Stock Performance

T opened at $27.06 on Friday. The firm has a market cap of $193.49 billion, a P/E ratio of 15.38, a PEG ratio of 3.46 and a beta of 0.42. AT&T Inc. has a 1-year low of $21.05 and a 1-year high of $29.79. The company has a 50 day simple moving average of $28.60 and a two-hundred day simple moving average of $27.92. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76.

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 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 company's revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.51 earnings per share. Equities analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Friday, October 10th. AT&T's dividend payout ratio 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.

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