Liberty Wealth Management LLC Acquires 18,563 Shares of AT&T Inc. (NYSE:T)

Key Points

• Liberty Wealth Management LLC increased its holdings in AT&T by 92.6%, acquiring an additional 18,563 shares, reaching a total of 38,614 shares valued at approximately $1.09 million.
• Analysts have lifted AT&T's target prices, with Scotiabank and Royal Bank of Canada setting new targets at $30, reflecting positive market sentiment.
• AT&T declared a quarterly dividend of $0.2775 per share, which represents an annual yield of 4.0% and a payout ratio of 63.07%.

Liberty Wealth Management LLC grew its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 92.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 38,614 shares of the technology company's stock after acquiring an additional 18,563 shares during the period. Liberty Wealth Management LLC's holdings in AT&T were worth $1,092,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Keystone Financial Group raised its stake in shares of AT&T by 196.3% during the fourth quarter. Keystone Financial Group now owns 216,980 shares of the technology company's stock valued at $5,322,000 after acquiring an additional 143,744 shares during the last quarter. Capstone Wealth Management LLC bought a new position in AT&T during the first quarter worth $201,000. DigitalBridge Group Inc. raised its stake in AT&T by 14.6% during the fourth quarter. DigitalBridge Group Inc. now owns 2,865,814 shares of the technology company's stock worth $65,255,000 after buying an additional 365,776 shares during the last quarter. Wedmont Private Capital raised its stake in AT&T by 7.9% during the first quarter. Wedmont Private Capital now owns 123,247 shares of the technology company's stock worth $3,302,000 after buying an additional 9,027 shares during the last quarter. Finally, Xponance Inc. raised its stake in AT&T by 10.2% during the first quarter. Xponance Inc. now owns 1,109,933 shares of the technology company's stock worth $31,389,000 after buying an additional 102,419 shares during the last quarter. Institutional investors own 57.10% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Scotiabank lifted their target price on shares of AT&T from $29.50 to $30.00 and gave the stock a "sector outperform" rating in a research note on Friday, July 11th. Royal Bank Of Canada lifted their target price on shares of AT&T from $28.00 to $30.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Citigroup reissued a "buy" rating on shares of AT&T in a research note on Tuesday, June 17th. Wells Fargo & Company lifted their target price on shares of AT&T from $30.00 to $31.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Finally, Wall Street Zen raised shares of AT&T from a "hold" rating to a "buy" rating in a research note on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $29.66.

AT&T Stock Up 1.3%

Shares of NYSE T opened at $27.76 on Monday. The stock has a market capitalization of $198.49 billion, a P/E ratio of 15.77, a P/E/G ratio of 3.44 and a beta of 0.42. The company has a 50-day moving average price of $27.80 and a 200-day moving average price of $26.88. AT&T Inc. has a 1 year low of $18.64 and a 1 year high of $29.19. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76.

AT&T (NYSE:T - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, topping 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 for the quarter, compared to analysts' expectations of $30.44 billion. During the same period in the previous year, the company earned $0.51 earnings per share. The firm's revenue for the quarter was up 3.4% compared to the same quarter last year. On average, equities research analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were issued a dividend of $0.2775 per share. The ex-dividend date was Thursday, July 10th. This represents a $1.11 annualized dividend and a yield of 4.0%. AT&T's payout ratio is 63.07%.

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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