Kickstand Ventures LLC. Makes New Investment in AT&T Inc. $T

Key Points

• Kickstand Ventures LLC acquired 16,890 shares of AT&T Inc., valued at approximately $489,000, marking a notable new investment in the company.
• AT&T recently reported earnings of $0.54 per share, exceeding the consensus estimate, alongside a revenue increase of 3.4% year-over-year.
• The company will pay a quarterly dividend of $0.2775 per share, resulting in an annualized dividend yield of 4.1%.

Kickstand Ventures LLC. bought a new position in shares of AT&T Inc. (NYSE:T - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 16,890 shares of the technology company's stock, valued at approximately $489,000.

Other large investors have also recently added to or reduced their stakes in the company. Stone House Investment Management LLC bought a new position in shares of AT&T in the 1st quarter valued at about $25,000. O Brien Wealth Partners LLC bought a new position in shares of AT&T in the 2nd quarter valued at about $26,000. Hager Investment Management Services LLC grew its holdings in shares of AT&T by 182.1% in the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company's stock valued at $28,000 after acquiring an additional 641 shares in the last quarter. Kennebec Savings Bank grew its holdings in shares of AT&T by 412.1% in the 2nd quarter. Kennebec Savings Bank now owns 973 shares of the technology company's stock valued at $28,000 after acquiring an additional 783 shares in the last quarter. Finally, Core Alternative Capital grew its holdings 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 valued at $29,000 after acquiring an additional 568 shares in the last quarter. Institutional investors own 57.10% of the company's stock.

AT&T Trading Up 0.2%

Shares of T stock opened at $27.06 on Friday. The firm has a 50 day moving average price of $28.60 and a two-hundred day moving average price of $27.92. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $193.49 billion, a PE ratio of 15.38, a price-to-earnings-growth ratio of 3.46 and a beta of 0.42. AT&T Inc. has a 12-month low of $21.05 and a 12-month high of $29.79.

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

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be given a dividend of $0.2775 per share. The ex-dividend date is Friday, October 10th. This represents a $1.11 annualized dividend and a yield of 4.1%. AT&T's dividend payout ratio (DPR) is 63.07%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on T shares. Morgan Stanley raised their price objective on AT&T from $31.00 to $32.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Hsbc Global Res downgraded shares of AT&T from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 24th. Scotiabank raised their target price 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. Raymond James Financial reiterated a "strong-buy" rating and issued a $33.00 target price (up from $31.00) on shares of AT&T in a research note on Thursday, September 18th. Finally, Sanford C. Bernstein raised their target price on shares of AT&T from $31.00 to $32.00 and gave the company an "outperform" rating in a research note on Thursday, September 4th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $30.74.

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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