GW Henssler & Associates Ltd. Makes New Investment in AT&T Inc. $T

Key Points

• GW Henssler & Associates Ltd. has invested approximately $302,000 in AT&T by acquiring 10,421 shares in the second quarter of 2023.
• AT&T reported earnings of $0.54 per share for the recent quarter, exceeding analysts' expectations and reflecting a 3.4% revenue increase year-over-year.
• The company announced a quarterly dividend of $0.2775 per share, which will be paid on November 3rd, representing an annual yield of 4.3%.

GW Henssler & Associates Ltd. acquired a new position in shares of AT&T Inc. (NYSE:T - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,421 shares of the technology company's stock, valued at approximately $302,000.

Other hedge funds have also recently bought and sold shares of the company. CHURCHILL MANAGEMENT Corp increased its stake in shares of AT&T by 1.5% in the second quarter. CHURCHILL MANAGEMENT Corp now owns 324,104 shares of the technology company's stock valued at $9,380,000 after buying an additional 4,793 shares in the last quarter. Capstone Wealth Management LLC acquired a new stake in shares of AT&T in the first quarter valued at $201,000. Kickstand Ventures LLC. acquired a new stake in shares of AT&T in the second quarter valued at $489,000. ASR Vermogensbeheer N.V. increased its stake in shares of AT&T by 1.4% in the second quarter. ASR Vermogensbeheer N.V. now owns 722,568 shares of the technology company's stock valued at $20,910,000 after buying an additional 9,970 shares in the last quarter. Finally, Simplicity Wealth LLC increased its stake in shares of AT&T by 180.5% in the second quarter. Simplicity Wealth LLC now owns 114,091 shares of the technology company's stock valued at $3,302,000 after buying an additional 73,417 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Price Performance

AT&T stock opened at $25.85 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01. AT&T Inc. has a 12-month low of $21.05 and a 12-month high of $29.79. The stock has a market cap of $184.82 billion, a price-to-earnings ratio of 14.69, a P/E/G ratio of 2.10 and a beta of 0.42. The business's 50-day simple moving average is $28.45 and its 200 day simple moving average is $27.88.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.53 by $0.01. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The firm had revenue of $30.85 billion for the quarter, compared to analysts' expectations of $30.44 billion. During the same quarter last year, the business earned $0.51 earnings per share. The company's revenue was up 3.4% compared to the same quarter last year. As a group, research analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be issued 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 4.3%. AT&T's dividend payout ratio (DPR) is 63.07%.

Analyst Ratings Changes

A number of analysts have recently weighed in on T shares. Wells Fargo & Company raised their target price on AT&T from $30.00 to $31.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Bank of America started coverage on AT&T in a research note on Monday, July 7th. They issued a "buy" rating and a $32.00 target price for the company. Citigroup restated a "buy" rating on shares of AT&T in a research note on Tuesday, August 26th. UBS Group set a $33.00 price target on AT&T in a report on Thursday, September 18th. Finally, Scotiabank set a $30.25 price target on AT&T and gave the company a "sector perform" rating in a report on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $30.75.

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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