OneAscent Investment Solutions LLC Invests $438,000 in AT&T Inc. (NYSE:T)

Key Points

• OneAscent Investment Solutions LLC has invested $438,000 in AT&T Inc. by purchasing 15,473 shares during the first quarter, as disclosed in their recent 13F filing.
• AT&T recently reported earnings of $0.54 per share for the quarter, exceeding analysts' expectations of $0.53, with revenue for the quarter reaching $30.85 billion.
• The company declared a quarterly dividend of $0.2775 per share, which represents an annualized dividend of $1.11 and a yield of 3.9%.

OneAscent Investment Solutions LLC purchased a new stake in AT&T Inc. (NYSE:T - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 15,473 shares of the technology company's stock, valued at approximately $438,000.

A number of other hedge funds also recently made changes to their positions in T. Stone House Investment Management LLC acquired a new position in shares of AT&T during the 1st quarter valued at $25,000. Hager Investment Management Services LLC lifted its holdings in shares of AT&T by 182.1% during the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company's stock valued at $28,000 after acquiring an additional 641 shares in the last quarter. IMA Advisory Services Inc. acquired a new position in shares of AT&T during the 1st quarter valued at $29,000. Core Alternative Capital lifted its holdings in shares of AT&T by 125.4% during the 1st quarter. Core Alternative Capital now owns 1,021 shares of the technology company's stock valued at $29,000 after acquiring an additional 568 shares in the last quarter. Finally, Capital A Wealth Management LLC acquired a new position in shares of AT&T during the 4th quarter valued at $25,000. Institutional investors and hedge funds own 57.10% of the company's stock.

AT&T Price Performance

T stock traded up $0.36 on Thursday, hitting $28.76. 24,523,413 shares of the company's stock traded hands, compared to its average volume of 33,400,236. AT&T Inc. has a 1-year low of $18.97 and a 1-year high of $29.19. The stock has a market cap of $205.61 billion, a price-to-earnings ratio of 16.34, a P/E/G ratio of 3.51 and a beta of 0.42. The stock has a fifty day moving average of $27.89 and a 200-day moving average of $27.16. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.53 by $0.01. The business had revenue of $30.85 billion during the quarter, compared to the consensus estimate of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The firm's quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.51 EPS. On average, analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were given a $0.2775 dividend. The ex-dividend date was Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a yield of 3.9%. AT&T's dividend payout ratio is presently 63.07%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on T shares. TD Securities lifted their price target on shares of AT&T from $29.00 to $30.00 and gave the stock a "hold" rating in a research note on Thursday, April 24th. Scotiabank boosted 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 report on Friday, July 11th. Raymond James Financial reaffirmed 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. Hsbc Global Res downgraded shares of AT&T from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 24th. Finally, Evercore ISI boosted their price objective on shares of AT&T from $25.00 to $27.00 and gave the company an "in-line" rating in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $29.66.

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.