Precision Wealth Strategies LLC Makes New Investment in AT&T Inc. $T

Key Points

• Precision Wealth Strategies LLC has acquired a new position in AT&T, purchasing 75,885 shares valued at approximately $2.196 million during the second quarter.
• AT&T reported earnings per share of $0.54 for the last quarter, surpassing estimates, with revenues totaling $30.85 billion, which is above analysts' forecasts.
• The company has announced a quarterly dividend of $0.2775 per share, which represents a 4.0% yield and will be distributed to shareholders on November 3rd, with an ex-dividend date of October 10th.

Precision Wealth Strategies LLC acquired a new position in shares of AT&T Inc. (NYSE:T - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 75,885 shares of the technology company's stock, valued at approximately $2,196,000.

Several other hedge funds have also recently bought and sold shares of the stock. B.O.S.S. Retirement Advisors LLC raised its stake in AT&T by 7.9% during the second quarter. B.O.S.S. Retirement Advisors LLC now owns 10,889 shares of the technology company's stock worth $315,000 after acquiring an additional 796 shares in the last quarter. Heritage Financial Services LLC raised its stake in AT&T by 35.5% during the second quarter. Heritage Financial Services LLC now owns 13,899 shares of the technology company's stock worth $402,000 after acquiring an additional 3,640 shares in the last quarter. Vigilare Wealth Management acquired a new position in AT&T during the second quarter worth $314,000. Trilogy Capital Inc. raised its stake in AT&T by 86.1% during the second quarter. Trilogy Capital Inc. now owns 22,233 shares of the technology company's stock worth $643,000 after acquiring an additional 10,284 shares in the last quarter. Finally, Trust Co. of Vermont raised its stake in AT&T by 3.9% during the second quarter. Trust Co. of Vermont now owns 106,101 shares of the technology company's stock worth $3,071,000 after acquiring an additional 3,977 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Price Performance

AT&T stock opened at $27.55 on Thursday. The business's 50-day simple moving average is $28.63 and its 200 day simple moving average is $27.91. The stock has a market cap of $196.96 billion, a price-to-earnings ratio of 15.65, a P/E/G ratio of 3.62 and a beta of 0.42. AT&T Inc. has a 12-month low of $21.05 and a 12-month 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.

AT&T (NYSE:T - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.01. The business had revenue of $30.85 billion for the quarter, compared to analysts' expectations of $30.44 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The firm's quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.51 earnings per share. As a group, research 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 announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be paid 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 4.0%. AT&T's dividend payout ratio is presently 63.07%.

Analyst Ratings Changes

T has been the topic of several research analyst reports. HSBC cut AT&T from a "buy" rating to a "hold" rating and set a $30.00 target price on the stock. in a report on Thursday, July 24th. Citigroup restated a "buy" rating on shares of AT&T in a report on Tuesday, August 26th. Bank of America initiated coverage on AT&T in a report on Monday, July 7th. They set a "buy" rating and a $32.00 target price on the stock. Hsbc Global Res cut AT&T from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 24th. Finally, Wells Fargo & Company increased their target price on AT&T from $30.00 to $31.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $30.74.

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.

Want to see what other hedge funds are holding T? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AT&T Inc. (NYSE:T - Free Report).

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.