Leo Wealth LLC Raises Stock Position in AT&T Inc. $T

Leo Wealth LLC boosted its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 29.6% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 136,278 shares of the technology company's stock after acquiring an additional 31,125 shares during the period. Leo Wealth LLC's holdings in AT&T were worth $3,944,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Kingstone Capital Partners Texas LLC purchased a new stake in shares of AT&T during the second quarter worth about $5,266,758,000. Nuveen LLC purchased a new stake in shares of AT&T during the first quarter worth about $1,072,128,000. GQG Partners LLC increased its stake in shares of AT&T by 17.7% during the first quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company's stock worth $3,222,711,000 after purchasing an additional 17,177,874 shares in the last quarter. Ontario Teachers Pension Plan Board increased its stake in shares of AT&T by 30,527.5% during the first quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company's stock worth $338,213,000 after purchasing an additional 11,920,392 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of AT&T by 350.4% during the first quarter. Wellington Management Group LLP now owns 11,363,940 shares of the technology company's stock worth $321,372,000 after purchasing an additional 8,841,126 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Up 0.3%

NYSE T opened at $26.24 on Thursday. AT&T Inc. has a 52 week low of $21.05 and a 52 week high of $29.79. 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 business's fifty day simple moving average is $28.51 and its 200-day simple moving average is $27.90. The firm has a market cap of $187.63 billion, a PE ratio of 14.91, a P/E/G ratio of 3.35 and a beta of 0.42.

AT&T (NYSE:T - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $30.44 billion. During the same quarter in the previous year, the firm earned $0.51 EPS. The company's quarterly revenue was up 3.4% compared to the same quarter last year. As a group, equities analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

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 issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Friday, October 10th. AT&T's payout ratio is currently 63.07%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on T. HSBC cut shares of AT&T from a "buy" rating to a "hold" rating and set a $30.00 target price for the company. in a research note on Thursday, July 24th. UBS Group set a $33.00 price objective on AT&T in a report on Thursday, September 18th. JPMorgan Chase & Co. raised their price objective on AT&T from $31.00 to $33.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Bank of America began coverage on AT&T in a report on Monday, July 7th. They issued a "buy" rating and a $32.00 price objective on the stock. Finally, Citigroup restated a "buy" rating on shares of AT&T in a report on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $30.75.

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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