Monument Capital Management Has $3.64 Million Holdings in AT&T Inc. $T

Key Points

• Monument Capital Management increased its holdings in AT&T by 259.8%, owning 125,624 shares worth approximately $3.64 million following the purchase of an additional 90,708 shares in the 2nd quarter.
• AT&T's recent earnings report showed an EPS of $0.54, exceeding expectations of $0.53, with a net revenue of $30.85 billion, which was above analyst predictions of $30.44 billion.
• AT&T announced a quarterly dividend of $0.2775, set to be paid on November 3rd, with a current annualized yield of 4.2%.

Monument Capital Management raised its position in AT&T Inc. (NYSE:T - Free Report) by 259.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 125,624 shares of the technology company's stock after purchasing an additional 90,708 shares during the period. Monument Capital Management's holdings in AT&T were worth $3,636,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. David J Yvars Group raised its stake in AT&T by 2.8% during the second quarter. David J Yvars Group now owns 13,884 shares of the technology company's stock worth $402,000 after buying an additional 372 shares during the last quarter. AllSquare Wealth Management LLC grew its holdings in AT&T by 7.1% during 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 period. Barnes Wealth Management Group Inc raised its position in shares of AT&T by 2.6% in the 1st quarter. Barnes Wealth Management Group Inc now owns 15,027 shares of the technology company's stock worth $425,000 after acquiring an additional 380 shares in the last quarter. Kathmere Capital Management LLC raised its position in shares of AT&T by 0.8% in the 2nd quarter. Kathmere Capital Management LLC now owns 50,802 shares of the technology company's stock worth $1,470,000 after acquiring an additional 381 shares in the last quarter. Finally, James J. Burns & Company LLC lifted its stake in shares of AT&T by 1.0% in the 2nd quarter. James J. Burns & Company LLC now owns 40,362 shares of the technology company's stock valued at $1,168,000 after purchasing an additional 383 shares during the period. Institutional investors own 57.10% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on T. Hsbc Global Res cut AT&T from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 24th. Weiss Ratings restated a "buy (b)" rating on shares of AT&T in a report on Wednesday. Morgan Stanley lifted their price objective on shares of AT&T from $31.00 to $32.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Raymond James Financial reaffirmed a "strong-buy" rating and set a $33.00 price target (up from $31.00) on shares of AT&T in a research note on Thursday, September 18th. Finally, The Goldman Sachs Group started coverage on shares of AT&T in a report on Tuesday, September 2nd. They set a "buy" rating and a $32.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $30.75.

AT&T Stock Down 0.5%

AT&T stock opened at $26.12 on Friday. AT&T Inc. has a fifty-two week low of $21.05 and a fifty-two 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. The firm's 50-day simple moving average is $28.49 and its 200 day simple moving average is $27.89. The stock has a market cap of $186.77 billion, a PE ratio of 14.84, a price-to-earnings-growth ratio of 3.36 and a beta of 0.42.

AT&T (NYSE:T - Get Free Report) last posted its 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 net margin of 10.29% and a return on equity of 13.36%. The firm had revenue of $30.85 billion for the quarter, compared to analysts' expectations of $30.44 billion. During the same quarter last year, the firm earned $0.51 EPS. The company's quarterly revenue was up 3.4% compared to the same quarter last year. Research analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

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

AT&T 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.