Belmont Capital LLC Makes New $566,000 Investment in AT&T Inc. $T

Key Points

• Belmont Capital LLC has made a new investment in AT&T Inc., purchasing 20,000 shares valued at approximately $566,000 in the 1st quarter.
• Equities analysts have a consensus rating of "Moderate Buy" for AT&T, with a price target averaging $30.40.
• AT&T reported earnings of $0.54 per share for the latest quarter, exceeding analysts' expectations, and revealed a dividend yield of 3.8% with a recent quarterly payout of $0.2775.

Belmont Capital LLC purchased a new stake in AT&T Inc. (NYSE:T - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 20,000 shares of the technology company's stock, valued at approximately $566,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Stone House Investment Management LLC acquired a new position in AT&T during the 1st quarter worth about $25,000. Hager Investment Management Services LLC boosted its holdings in 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 acquiring an additional 641 shares in the last quarter. IMA Advisory Services Inc. purchased a new stake in shares of AT&T in the first quarter worth approximately $29,000. Core Alternative Capital increased its position in shares of AT&T by 125.4% during the first 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. Finally, Capital A Wealth Management LLC purchased a new stake in shares of AT&T during the fourth quarter valued at approximately $25,000. Institutional investors own 57.10% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on T shares. UBS Group reissued a "buy" rating and set a $31.00 price objective (up from $30.00) on shares of AT&T in a report on Wednesday, June 18th. Bank of America assumed coverage on AT&T in a research note on Monday, July 7th. They set a "buy" rating and a $32.00 price objective for the company. Wells Fargo & Company raised their price target on AT&T from $30.00 to $31.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Hsbc Global Res downgraded AT&T from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 24th. Finally, Scotiabank raised their target price on AT&T from $29.50 to $30.00 and gave the stock a "sector outperform" rating in a research note on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, AT&T currently has an average rating of "Moderate Buy" and a consensus price target of $30.40.

AT&T Stock Performance

Shares of T opened at $29.07 on Wednesday. AT&T Inc. has a 52 week low of $19.92 and a 52 week high of $29.65. The stock has a market cap of $207.86 billion, a P/E ratio of 16.52, a P/E/G ratio of 3.62 and a beta of 0.44. The business's 50 day moving average price is $28.15 and its 200-day moving average price is $27.57. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01.

AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings data 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. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The company had revenue of $30.85 billion during the quarter, compared to analyst estimates of $30.44 billion. During the same period in the previous year, the business earned $0.51 EPS. The firm's revenue for the quarter was up 3.4% on a year-over-year basis. Equities research analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal 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 $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date was Thursday, July 10th. AT&T's payout ratio is presently 63.07%.

AT&T 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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