HB Wealth Management LLC Buys 87,590 Shares of AT&T Inc. (NYSE:T)

Key Points

• HB Wealth Management LLC has increased its stake in AT&T by 9.1% during the 1st quarter, acquiring an additional 87,590 shares, bringing its total holdings to approximately $29.7 million.
• AT&T reported $0.54 earnings per share for the last quarter, exceeding analysts' expectations, and achieved a 3.4% year-over-year increase in revenue.
• The company recently declared a $0.2775 quarterly dividend, representing an annualized yield of 3.96% and a payout ratio of 63.07%.

HB Wealth Management LLC grew its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 9.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,050,746 shares of the technology company's stock after acquiring an additional 87,590 shares during the quarter. HB Wealth Management LLC's holdings in AT&T were worth $29,715,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Minot DeBlois Advisors LLC purchased a new position in AT&T in the 4th quarter worth about $25,000. Capital A Wealth Management LLC purchased a new position in AT&T in the 4th quarter worth about $25,000. Putney Financial Group LLC purchased a new position in AT&T in the 4th quarter worth about $27,000. Hager Investment Management Services LLC raised its position in AT&T by 182.1% in the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company's stock worth $28,000 after buying an additional 641 shares during the last quarter. Finally, Core Alternative Capital boosted its stake in shares of AT&T by 125.4% in the 1st quarter. Core Alternative Capital now owns 1,021 shares of the technology company's stock worth $29,000 after buying an additional 568 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors.

AT&T Stock Performance

T opened at $28.02 on Friday. The stock has a market capitalization of $201.58 billion, a price-to-earnings ratio of 15.92, a PEG ratio of 3.48 and a beta of 0.42. The company has a fifty day moving average of $27.81 and a 200 day moving average of $26.62. AT&T Inc. has a fifty-two week low of $18.64 and a fifty-two week high of $29.19. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.65 and a current ratio of 0.81.

AT&T (NYSE:T - Get Free Report) last posted its earnings results 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 company had revenue of $30.85 billion during the quarter, compared to analysts' expectations of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. AT&T's quarterly revenue was up 3.4% on a year-over-year basis. During the same period last year, the company posted $0.51 earnings per share. As a group, sell-side analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date of this dividend is Thursday, July 10th. AT&T's payout ratio is 63.07%.

Analysts Set New Price Targets

T has been the topic of a number of research reports. Hsbc Global Res downgraded AT&T from a "strong-buy" rating to a "hold" rating in a research note on Thursday. Citigroup restated a "buy" rating on shares of AT&T in a research note on Tuesday, June 17th. Oppenheimer raised their price target on AT&T from $27.00 to $32.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 1st. JPMorgan Chase & Co. raised their price target on AT&T from $31.00 to $33.00 and gave the stock an "overweight" rating in a research note on Thursday. Finally, Raymond James Financial restated a "strong-buy" rating and issued a $31.00 price target (up from $30.00) on shares of AT&T in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $29.66.

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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