Brave Asset Management Inc. Has $1.12 Million Stock Position in AT&T Inc. $T

Key Points

• Brave Asset Management Inc. increased its stake in AT&T by 90.9% in the second quarter, owning 38,744 shares valued at approximately $1.12 million.
• AT&T's recent quarterly earnings surpassed estimates, reporting an earnings per share (EPS) of $0.54, with a year-over-year revenue increase of 3.4%.
• The company declared a quarterly dividend of $0.2775 per share, representing an annual yield of 3.9%, to be paid on November 3rd to shareholders of record on October 10th.

Brave Asset Management Inc. lifted its position in AT&T Inc. (NYSE:T - Free Report) by 90.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,744 shares of the technology company's stock after buying an additional 18,451 shares during the quarter. Brave Asset Management Inc.'s holdings in AT&T were worth $1,121,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. MBE Wealth Management LLC lifted its stake in shares of AT&T by 6.7% in the second quarter. MBE Wealth Management LLC now owns 11,242 shares of the technology company's stock worth $325,000 after buying an additional 707 shares during the last quarter. Kingsman Wealth Management Inc. acquired a new stake in shares of AT&T in the second quarter worth $900,000. AAFMAA Wealth Management & Trust LLC acquired a new stake in shares of AT&T in the second quarter worth $1,790,000. Essex Financial Services Inc. lifted its stake in shares of AT&T by 46.6% in the second quarter. Essex Financial Services Inc. now owns 122,098 shares of the technology company's stock worth $3,534,000 after buying an additional 38,826 shares during the last quarter. Finally, Dakota Wealth Management lifted its stake in shares of AT&T by 132.4% in the second quarter. Dakota Wealth Management now owns 154,562 shares of the technology company's stock worth $4,473,000 after buying an additional 88,042 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Wells Fargo & Company boosted their price objective on shares of AT&T from $30.00 to $31.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Hsbc Global Res cut shares of AT&T from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 24th. Morgan Stanley upped 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. Bank of America initiated coverage on shares of AT&T in a research note on Monday, July 7th. They set a "buy" rating and a $32.00 target price for the company. Finally, The Goldman Sachs Group initiated coverage on shares of AT&T in a research note on Tuesday, September 2nd. They set a "buy" rating and a $32.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $30.74.

AT&T Trading Down 0.0%

Shares of T stock opened at $28.31 on Friday. AT&T Inc. has a 52-week low of $21.05 and a 52-week high of $29.79. The stock has a market cap of $202.42 billion, a price-to-earnings ratio of 16.08, a P/E/G ratio of 3.63 and a beta of 0.44. 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 firm has a fifty day moving average of $28.58 and a 200-day moving average of $27.86.

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 (EPS) for the quarter, beating 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 analysts' expectations of $30.44 billion. During the same quarter in the prior year, the company posted $0.51 EPS. The business's revenue was up 3.4% on a year-over-year basis. On average, equities research analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be paid a $0.2775 dividend. The ex-dividend date is Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.9%. 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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