Ritholtz Wealth Management Raises Position in AT&T Inc. $T

Key Points

• Ritholtz Wealth Management increased its stake in AT&T Inc. by 34.7% in Q2, holding 262,073 shares valued at approximately $7.58 million.
• Wall Street analysts have mixed sentiments on AT&T, with ratings ranging from "Strong Buy" to "Hold" and an average price target of $30.75.
• AT&T recently declared a quarterly dividend of $0.2775 per share, with a yield of 4.3%, set to be paid on November 3rd.

Ritholtz Wealth Management increased its stake in AT&T Inc. (NYSE:T - Free Report) by 34.7% during the second quarter, according to its most recent filing with the SEC. The fund owned 262,073 shares of the technology company's stock after buying an additional 67,536 shares during the quarter. Ritholtz Wealth Management's holdings in AT&T were worth $7,584,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of T. David J Yvars Group lifted 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 purchasing an additional 372 shares during the last quarter. AllSquare Wealth Management LLC boosted its stake in shares of AT&T by 7.1% during the first quarter. AllSquare Wealth Management LLC now owns 5,704 shares of the technology company's stock valued at $161,000 after purchasing an additional 378 shares during the period. Barnes Wealth Management Group Inc grew its holdings in shares of AT&T by 2.6% in the first quarter. Barnes Wealth Management Group Inc now owns 15,027 shares of the technology company's stock worth $425,000 after purchasing an additional 380 shares during the last quarter. Kathmere Capital Management LLC increased its stake in shares of AT&T by 0.8% in the second quarter. Kathmere Capital Management LLC now owns 50,802 shares of the technology company's stock worth $1,470,000 after buying an additional 381 shares during the period. Finally, James J. Burns & Company LLC raised its holdings in AT&T by 1.0% during 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 buying an additional 383 shares during the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on T shares. HSBC downgraded shares of AT&T from a "buy" rating to a "hold" rating and set a $30.00 price objective for the company. in a research note on Thursday, July 24th. Barclays reiterated an "equal weight" rating and issued a $30.00 price objective on shares of AT&T in a research report on Wednesday, October 1st. Sanford C. Bernstein boosted their price objective on shares of AT&T from $31.00 to $32.00 and gave the company an "outperform" rating in a research report on Thursday, September 4th. The Goldman Sachs Group assumed coverage on shares of AT&T in a research note on Tuesday, September 2nd. They issued a "buy" rating and a $32.00 price target for the company. Finally, Morgan Stanley upped their price target on AT&T from $31.00 to $32.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. One 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 company. According to MarketBeat.com, AT&T currently has an average rating of "Moderate Buy" and an average price target of $30.75.

AT&T Price Performance

Shares of NYSE T opened at $26.12 on Wednesday. AT&T Inc. has a twelve month low of $21.05 and a twelve month high of $29.79. The company has a 50 day moving average of $28.37 and a 200 day moving average of $27.85. 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 firm has a market cap of $186.74 billion, a P/E ratio of 14.84, a PEG ratio of 2.07 and a beta of 0.42.

AT&T (NYSE:T - Get Free Report) last released its quarterly earnings data 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 company 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%.AT&T's revenue was up 3.4% compared to the same quarter last year. During the same period last year, the firm posted $0.51 earnings per share. As a group, research analysts expect that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The company 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 4.3%. The ex-dividend date of this dividend is Friday, October 10th. AT&T's dividend payout ratio is presently 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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