LeConte Wealth Management LLC Invests $466,000 in AT&T Inc. (NYSE:T)

Key Points

• LeConte Wealth Management LLC invested approximately $466,000 in AT&T Inc. by acquiring 16,477 shares during the 1st quarter.
• AT&T announced a quarterly dividend of $0.2775 per share, with a dividend yield of 3.8% and a payout ratio of 63.07%.
• The company reported a quarterly revenue of $30.85 billion, exceeding analyst estimates, with earnings per share of $0.54, up from $0.51 in the previous year.

LeConte Wealth Management LLC acquired a new position in AT&T Inc. (NYSE:T - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 16,477 shares of the technology company's stock, valued at approximately $466,000.

Several other institutional investors also recently modified their holdings of the business. AllSquare Wealth Management LLC raised its holdings in shares of AT&T by 7.1% in the 1st quarter. AllSquare Wealth Management LLC now owns 5,704 shares of the technology company's stock worth $161,000 after acquiring an additional 378 shares during the last quarter. Next Level Private LLC increased its stake in shares of AT&T by 0.3% during the 1st quarter. Next Level Private LLC now owns 113,379 shares of the technology company's stock worth $3,206,000 after purchasing an additional 379 shares during the last quarter. Carolinas Wealth Consulting LLC increased its stake in shares of AT&T by 1.6% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 24,161 shares of the technology company's stock worth $550,000 after purchasing an additional 384 shares during the last quarter. Kozak & Associates Inc. increased its stake in shares of AT&T by 9.4% during the 1st quarter. Kozak & Associates Inc. now owns 4,617 shares of the technology company's stock worth $126,000 after purchasing an additional 398 shares during the last quarter. Finally, Silver Oak Securities Incorporated increased its stake in shares of AT&T by 0.3% during the 1st quarter. Silver Oak Securities Incorporated now owns 114,324 shares of the technology company's stock worth $3,222,000 after purchasing an additional 398 shares during the last quarter. Institutional investors own 57.10% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on T shares. Cowen restated a "hold" rating on shares of AT&T in a research note on Thursday, April 24th. Raymond James Financial restated a "strong-buy" rating and set a $31.00 price objective (up previously from $30.00) on shares of AT&T in a research report on Thursday, July 24th. Williams Trading set a $30.00 target price on shares of AT&T in a research report on Thursday, April 24th. HSBC cut shares of AT&T from a "buy" rating to a "hold" rating and set a $30.00 price objective on the stock. in a research report on Thursday, July 24th. Finally, UBS Group restated a "buy" rating and issued a $31.00 price objective (up previously from $30.00) on shares of AT&T in a research report on Wednesday, June 18th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $30.21.

AT&T Price Performance

Shares of NYSE:T opened at $28.89 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81. The firm has a fifty day moving average price of $27.90 and a 200 day moving average price of $27.21. AT&T Inc. has a fifty-two week low of $19.08 and a fifty-two week high of $29.19. The firm has a market cap of $206.57 billion, a price-to-earnings ratio of 16.41, a P/E/G ratio of 3.57 and a beta of 0.42.

AT&T (NYSE:T - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 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 business had revenue of $30.85 billion during the quarter, compared to analyst estimates of $30.44 billion. During the same quarter last year, the business earned $0.51 earnings per share. AT&T's quarterly revenue was up 3.4% compared to the same quarter last year. As a group, 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. Stockholders of record on Thursday, July 10th were issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Thursday, July 10th. AT&T's dividend payout ratio (DPR) is 63.07%.

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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