Silver Oak Securities Incorporated Has $2.91 Million Holdings in AT&T Inc. $T

Key Points

• Silver Oak Securities Incorporated reduced its holdings in AT&T Inc. by 12.2% during the second quarter, now owning about $2.91 million worth of shares.
• AT&T reported $0.54 EPS for the last quarter, exceeding analysts' expectations of $0.53 and showing a revenue increase of 3.4% year-over-year.
• Multiple analysts have raised their target prices for AT&T stock, with Wells Fargo and Morgan Stanley setting targets of $31.00 and $32.00 respectively.

Silver Oak Securities Incorporated lowered its position in AT&T Inc. (NYSE:T - Free Report) by 12.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,410 shares of the technology company's stock after selling 13,914 shares during the quarter. Silver Oak Securities Incorporated's holdings in AT&T were worth $2,906,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of T. Capital A Wealth Management LLC bought a new position in AT&T during the 4th quarter valued at approximately $25,000. Stone House Investment Management LLC bought a new position in AT&T in the first quarter worth approximately $25,000. O Brien Wealth Partners LLC acquired a new stake in shares of AT&T in the 2nd quarter worth $26,000. Putney Financial Group LLC purchased a new position in shares of AT&T in the 4th quarter valued at about $27,000. Finally, Hager Investment Management Services LLC lifted its holdings in AT&T by 182.1% in the first 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 during the last quarter. 57.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on T shares. Citigroup restated a "buy" rating on shares of AT&T in a research report on Tuesday, August 26th. UBS Group set a $33.00 target price on shares of AT&T in a report on Thursday. The Goldman Sachs Group started coverage on shares of AT&T in a report on Tuesday, September 2nd. They issued a "buy" rating and a $32.00 target price for the company. Morgan Stanley raised their price objective on AT&T from $31.00 to $32.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Finally, Scotiabank boosted their price objective on AT&T from $29.50 to $30.00 and gave the stock a "sector outperform" rating in a report on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $30.74.

AT&T Price Performance

Shares of NYSE:T traded down $0.16 during trading on Friday, reaching $29.04. 62,059,787 shares of the company traded hands, compared to its average volume of 29,475,850. 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 capitalization of $207.65 billion, a PE ratio of 16.50, a PEG ratio of 3.59 and a beta of 0.44. AT&T Inc. has a 52 week low of $21.05 and a 52 week high of $29.79. The company's 50 day moving average is $28.45 and its two-hundred day moving average is $27.82.

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, topping analysts' consensus estimates of $0.53 by $0.01. The business had revenue of $30.85 billion for the quarter, compared to analyst estimates of $30.44 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%.AT&T's quarterly revenue was up 3.4% compared to the same quarter last year. During the same period last year, the company posted $0.51 earnings per share. As a group, sell-side analysts predict that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were issued a dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.8%. 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.