229,950 Shares in AT&T Inc. $T Purchased by Grant Private Wealth Management Inc

Key Points

• Grant Private Wealth Management Inc has invested approximately $6.66 million in AT&T Inc., acquiring 229,950 shares, which now represents 3.8% of its portfolio.
• AT&T's latest earnings report revealed a net margin of 10.29% and a 3.4% year-over-year revenue increase, reporting earnings per share of $0.54, exceeding estimates by $0.01.
• Analysts have issued a consensus rating of "Moderate Buy" for AT&T, with a consensus price target of $30.74, reflecting overall positive sentiment despite mixed ratings from different firms.

Grant Private Wealth Management Inc purchased a new position in AT&T Inc. (NYSE:T - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 229,950 shares of the technology company's stock, valued at approximately $6,655,000. AT&T makes up 3.8% of Grant Private Wealth Management Inc's investment portfolio, making the stock its 7th biggest position.

Several other large investors also recently modified their holdings of the stock. Farther Finance Advisors LLC boosted its stake in shares of AT&T by 13.6% during the 2nd quarter. Farther Finance Advisors LLC now owns 173,557 shares of the technology company's stock worth $5,023,000 after buying an additional 20,714 shares during the last quarter. Busey Bank raised its holdings in AT&T by 17.9% during the 2nd quarter. Busey Bank now owns 97,660 shares of the technology company's stock valued at $2,826,000 after acquiring an additional 14,825 shares during the period. UMB Bank n.a. raised its position in AT&T by 2.5% in the 2nd quarter. UMB Bank n.a. now owns 184,342 shares of the technology company's stock worth $5,335,000 after purchasing an additional 4,566 shares during the period. Wright Investors Service Inc. lifted its position in AT&T by 120.6% during the second quarter. Wright Investors Service Inc. now owns 122,850 shares of the technology company's stock valued at $3,555,000 after buying an additional 67,149 shares during the period. Finally, My Legacy Advisors LLC grew its stake in shares of AT&T by 2.3% in the second quarter. My Legacy Advisors LLC now owns 50,192 shares of the technology company's stock worth $1,386,000 after acquiring an additional 1,128 shares during the period. 57.10% of the stock is currently owned by institutional investors.

AT&T Stock Performance

Shares of NYSE T traded down $0.16 during trading hours on Friday, hitting $29.04. 62,059,787 shares of the company's stock were exchanged, compared to its average volume of 29,475,850. The company's 50-day moving average price is $28.45 and its 200-day moving average price is $27.83. AT&T Inc. has a 1-year low of $21.05 and a 1-year high of $29.79. The stock has a market capitalization of $207.65 billion, a price-to-earnings ratio of 16.50, a PEG ratio of 3.59 and a beta of 0.44. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76.

AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $30.44 billion. During the same period in the previous year, the firm posted $0.51 EPS. The firm's revenue was up 3.4% on a year-over-year basis. On average, sell-side analysts expect that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 3.8%. The ex-dividend date was Thursday, July 10th. AT&T's dividend payout ratio (DPR) is 63.07%.

Analyst Ratings Changes

A number of research firms have recently weighed in on T. The Goldman Sachs Group assumed coverage on AT&T in a research report on Tuesday, September 2nd. They issued a "buy" rating and a $32.00 price objective for the company. HSBC lowered shares of AT&T from a "buy" rating to a "hold" rating and set a $30.00 price objective on the stock. in a report on Thursday, July 24th. Raymond James Financial reiterated a "strong-buy" rating and set a $33.00 price target (up from $31.00) on shares of AT&T in a research report on Thursday. Bank of America started coverage on shares of AT&T in a report on Monday, July 7th. They set a "buy" rating and a $32.00 price target for the company. Finally, Scotiabank raised their price objective on shares of AT&T from $29.50 to $30.00 and gave the company a "sector outperform" rating in a research note on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target 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.