Farther Finance Advisors LLC Buys 20,714 Shares of AT&T Inc. $T

Key Points

• Farther Finance Advisors LLC increased its holdings in AT&T Inc. by 13.6%, acquiring an additional 20,714 shares during the 2nd quarter, bringing their total to 173,557 shares worth approximately $5,023,000.
• AT&T recently reported earnings of $0.54 per share, exceeding the consensus estimate, with quarterly revenue rising 3.4% year-over-year to $30.85 billion.
• Several analysts have raised their price targets for AT&T stock, with estimates now ranging from $31.00 to $33.00, indicating a generally positive outlook with a consensus rating of "Moderate Buy."

Farther Finance Advisors LLC raised its holdings in AT&T Inc. (NYSE:T - Free Report) by 13.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 173,557 shares of the technology company's stock after buying an additional 20,714 shares during the quarter. Farther Finance Advisors LLC's holdings in AT&T were worth $5,023,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Stone House Investment Management LLC bought a new position in shares of AT&T during the first quarter valued at approximately $25,000. O Brien Wealth Partners LLC purchased a new position in shares of AT&T during the 2nd quarter worth $26,000. Hager Investment Management Services LLC increased its stake in AT&T by 182.1% during the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company's stock worth $28,000 after purchasing an additional 641 shares during the period. IMA Advisory Services Inc. acquired a new position in AT&T in the first quarter valued at approximately $29,000. Finally, Core Alternative Capital increased its holdings in shares of AT&T by 125.4% in the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company's stock valued at $29,000 after purchasing an additional 568 shares during the period. 57.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on T shares. Wells Fargo & Company lifted their target price on shares of AT&T from $30.00 to $31.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Sanford C. Bernstein lifted their target price on shares of AT&T from $31.00 to $32.00 and gave the company an "outperform" rating in a research report on Thursday, September 4th. Morgan Stanley upped their price objective on shares of AT&T from $31.00 to $32.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. JPMorgan Chase & Co. upped their price objective on shares of AT&T from $31.00 to $33.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Finally, Bank of America began coverage on shares of AT&T in a report on Monday, July 7th. They set a "buy" rating and a $32.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $30.74.

AT&T Trading Down 0.5%

T opened at $29.04 on Friday. AT&T Inc. has a one year low of $21.05 and a one year high of $29.79. 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 business's 50-day simple moving average is $28.45 and its 200-day simple moving average is $27.82. The company has a market cap of $207.65 billion, a P/E ratio of 16.50, a PEG ratio of 3.59 and a beta of 0.44.

AT&T (NYSE:T - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.01. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The business had revenue of $30.85 billion for the quarter, compared to analyst estimates of $30.44 billion. During the same period last year, the company posted $0.51 EPS. The business's quarterly revenue was up 3.4% on a year-over-year basis. As a group, equities research analysts expect that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 1st. Investors 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 yield of 3.8%. AT&T's dividend payout ratio (DPR) is currently 63.07%.

About AT&T

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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