BridgePort Financial Solutions LLC Takes Position in AT&T Inc. $T

Key Points

• BridgePort Financial Solutions LLC has acquired a new position in AT&T, purchasing 10,465 shares valued at approximately $303,000 during the second quarter.
• AT&T recently reported earnings of $0.54 per share for the last quarter, surpassing estimates and displaying revenue growth of 3.4% year-over-year.
• The company announced a quarterly dividend of $0.2775 per share, representing a yield of 4.1%, with the payment date set for November 3rd.

BridgePort Financial Solutions LLC purchased a new position in shares of AT&T Inc. (NYSE:T - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 10,465 shares of the technology company's stock, valued at approximately $303,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Talbot Financial LLC boosted its holdings in AT&T by 17.9% in the 2nd quarter. Talbot Financial LLC now owns 388,725 shares of the technology company's stock valued at $11,250,000 after purchasing an additional 58,909 shares during the period. Accel Wealth Management raised its position in shares of AT&T by 12.3% in the second quarter. Accel Wealth Management now owns 14,128 shares of the technology company's stock valued at $409,000 after buying an additional 1,547 shares in the last quarter. Checchi Capital Advisers LLC boosted its stake in shares of AT&T by 1.2% in the second quarter. Checchi Capital Advisers LLC now owns 55,207 shares of the technology company's stock valued at $1,598,000 after buying an additional 679 shares during the period. Oak Hill Wealth Advisors LLC boosted its stake in shares of AT&T by 48.5% in the second quarter. Oak Hill Wealth Advisors LLC now owns 34,512 shares of the technology company's stock valued at $976,000 after buying an additional 11,265 shares during the period. Finally, Signature Wealth Management Partners LLC grew its position in AT&T by 3.4% during the second quarter. Signature Wealth Management Partners LLC now owns 52,947 shares of the technology company's stock worth $1,532,000 after buying an additional 1,730 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company's stock.

AT&T Trading Up 0.2%

T opened at $27.06 on Friday. The company's 50 day moving average is $28.60 and its 200-day moving average is $27.92. The company 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 current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.53 by $0.01. The business had revenue of $30.85 billion during the quarter, compared to the consensus estimate of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The firm's revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.51 EPS. Equities research analysts predict 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 will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be given a dividend of $0.2775 per share. The ex-dividend date is Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.1%. AT&T's payout ratio is currently 63.07%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. The Goldman Sachs Group started coverage on AT&T in a report on Tuesday, September 2nd. They issued a "buy" rating and a $32.00 price objective for the company. Hsbc Global Res downgraded AT&T from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 24th. Weiss Ratings reiterated a "buy (b)" rating on shares of AT&T in a research note on Saturday, September 27th. UBS Group set a $33.00 target price on shares of AT&T in a report on Thursday, September 18th. Finally, HSBC downgraded shares of AT&T from a "buy" rating to a "hold" rating and set a $30.00 price target for the company. in a report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $30.74.

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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