Chemistry Wealth Management LLC Takes $297,000 Position in AT&T Inc. $T

Key Points

• Chemistry Wealth Management LLC has acquired a position in AT&T Inc., purchasing 10,256 shares valued at approximately $297,000.
• AT&T's recent analyst ratings indicate a mix of optimism, with one strong buy, seventeen buy, and five hold ratings, along with a projected average target price of $30.60.
• The company reported earnings of $0.54 per share, exceeding the consensus estimate, with revenue for the quarter reaching $30.85 billion, up 3.4% year-over-year.

Chemistry Wealth Management LLC purchased a new position in shares of AT&T Inc. (NYSE:T - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 10,256 shares of the technology company's stock, valued at approximately $297,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of T. Capital A Wealth Management LLC acquired a new position in AT&T during the 4th quarter worth approximately $25,000. Stone House Investment Management LLC acquired a new position in AT&T during the 1st quarter worth approximately $25,000. Putney Financial Group LLC acquired a new position in AT&T during the 4th quarter worth approximately $27,000. Hager Investment Management Services LLC lifted its position 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 acquiring an additional 641 shares in the last quarter. Finally, Core Alternative Capital lifted its position in AT&T by 125.4% during the 1st quarter. Core Alternative Capital now owns 1,021 shares of the technology company's stock worth $29,000 after acquiring an additional 568 shares in the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

T has been the topic of several analyst reports. The Goldman Sachs Group initiated coverage on AT&T in a report on Tuesday, September 2nd. They set a "buy" rating and a $32.00 price objective on the stock. Raymond James Financial restated a "strong-buy" rating and set a $31.00 price objective (up from $30.00) on shares of AT&T in a report on Thursday, July 24th. Morgan Stanley lifted their price objective on AT&T from $31.00 to $32.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Sanford C. Bernstein lifted their price objective on AT&T from $31.00 to $32.00 and gave the stock an "outperform" rating in a report on Thursday, September 4th. Finally, Hsbc Global Res downgraded AT&T from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $30.60.

AT&T Trading Up 0.3%

NYSE:T opened at $29.59 on Monday. AT&T Inc. has a 1 year low of $21.05 and a 1 year high of $29.79. The stock has a market cap of $211.58 billion, a price-to-earnings ratio of 16.81, a PEG ratio of 3.68 and a beta of 0.44. The business has a fifty day moving average of $28.31 and a 200-day moving average of $27.74. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81.

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, beating the consensus estimate 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 return on equity of 13.36% and a net margin of 10.29%.The company's revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.51 earnings per share. Equities analysts predict that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were issued a $0.2775 dividend. The ex-dividend date was Thursday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 3.8%. AT&T's dividend payout ratio is 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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