Kingsman Wealth Management Inc. Makes New Investment in AT&T Inc. $T

Key Points

• Kingsman Wealth Management Inc. has purchased a new position in AT&T, acquiring 31,089 shares valued at approximately $900,000.
• AT&T recently reported a quarterly EPS of $0.54, exceeding analyst expectations, with revenue reaching $30.85 billion, up 3.4% from the previous year.
• The company declared a quarterly dividend of $0.2775, set to be paid on November 3rd, representing an annual yield of 3.9%.

Kingsman Wealth Management Inc. 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 firm bought 31,089 shares of the technology company's stock, valued at approximately $900,000.

Other hedge funds have also made changes to their positions in the company. Stone House Investment Management LLC acquired a new stake in AT&T during the 1st quarter valued at $25,000. O Brien Wealth Partners LLC acquired a new stake in AT&T during the 2nd quarter valued at $26,000. Hager Investment Management Services LLC increased its stake in shares of AT&T by 182.1% in the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company's stock valued at $28,000 after buying an additional 641 shares in the last quarter. Core Alternative Capital increased its stake 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 buying an additional 568 shares in the last quarter. Finally, IMA Advisory Services Inc. acquired a new stake in shares of AT&T in the first quarter valued at $29,000. Institutional investors and hedge funds own 57.10% of the company's stock.

AT&T Stock Performance

Shares of AT&T stock opened at $28.31 on Friday. The firm has a fifty day moving average of $28.58 and a two-hundred day moving average of $27.86. The stock has a market capitalization of $202.42 billion, a price-to-earnings ratio of 16.08, a PEG ratio of 3.63 and a beta of 0.44. AT&T Inc. has a 52 week low of $21.05 and a 52 week 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.

AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 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 business had revenue of $30.85 billion during the quarter, compared to analysts' expectations of $30.44 billion. During the same period in the previous year, the firm earned $0.51 earnings per share. The firm's quarterly revenue was up 3.4% compared to the same quarter last year. As a group, equities research analysts predict that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be paid a $0.2775 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.9%. AT&T's dividend payout ratio is 63.07%.

Wall Street Analyst Weigh In

Several research firms have weighed in on T. Hsbc Global Res cut shares of AT&T from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 24th. Morgan Stanley raised their price target on shares of AT&T from $31.00 to $32.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Citigroup reissued a "buy" rating on shares of AT&T in a report on Tuesday, August 26th. Wells Fargo & Company lifted 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. Finally, Sanford C. Bernstein lifted their target price on AT&T from $31.00 to $32.00 and gave the company an "outperform" rating in a research note on Thursday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $30.74.

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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