Simplicity Wealth LLC Raises Stock Position in AT&T Inc. $T

Key Points

• Simplicity Wealth LLC increased its holdings in AT&T Inc. by 180.5% in the second quarter, owning 114,091 shares worth $3.3 million after acquiring an additional 73,417 shares.
• AT&T reported earnings per share of $0.54 for the last quarter, surpassing analysts' expectations, and had a revenue of $30.85 billion, up 3.4% from the previous year.
• The company announced a quarterly dividend of $0.2775 per share, set to be paid on November 3rd, with a yield of 4.1% and a payout ratio of 63.07%.

Simplicity Wealth LLC grew its holdings in AT&T Inc. (NYSE:T - Free Report) by 180.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 114,091 shares of the technology company's stock after purchasing an additional 73,417 shares during the quarter. Simplicity Wealth LLC's holdings in AT&T were worth $3,302,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Olistico Wealth LLC lifted its holdings in AT&T by 43.8% during the 2nd quarter. Olistico Wealth LLC now owns 7,612 shares of the technology company's stock worth $220,000 after buying an additional 2,318 shares in the last quarter. MBL Wealth LLC increased its position in shares of AT&T by 7.1% during the second quarter. MBL Wealth LLC now owns 11,195 shares of the technology company's stock worth $324,000 after acquiring an additional 740 shares during the period. Sutton Place Investors LLC increased its position in shares of AT&T by 10.0% during the second quarter. Sutton Place Investors LLC now owns 8,855 shares of the technology company's stock worth $256,000 after acquiring an additional 807 shares during the period. Wealthcare Advisory Partners LLC raised its stake in shares of AT&T by 10.9% in the second quarter. Wealthcare Advisory Partners LLC now owns 92,250 shares of the technology company's stock valued at $2,670,000 after acquiring an additional 9,038 shares in the last quarter. Finally, Ergawealth Advisors Inc. boosted its holdings in AT&T by 7.1% in the second quarter. Ergawealth Advisors Inc. now owns 13,117 shares of the technology company's stock valued at $380,000 after purchasing an additional 867 shares during the period. Institutional investors and hedge funds own 57.10% of the company's stock.

AT&T Stock Up 0.2%

Shares of NYSE T opened at $27.06 on Monday. The stock has a market capitalization of $193.49 billion, a price-to-earnings ratio of 15.38, a price-to-earnings-growth ratio of 3.46 and a beta of 0.42. AT&T Inc. has a 52 week low of $21.05 and a 52 week high of $29.79. The firm has a 50-day moving average price of $28.60 and a 200 day moving average price of $27.93. 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 issued its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.53 by $0.01. The company had revenue of $30.85 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period last year, the company posted $0.51 earnings per share. Equities research analysts anticipate 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. Stockholders of record on Friday, October 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend is Friday, October 10th. AT&T's dividend payout ratio (DPR) is 63.07%.

Wall Street Analyst Weigh In

T has been the topic of several analyst reports. The Goldman Sachs Group began coverage on shares of AT&T in a report on Tuesday, September 2nd. They issued 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 research note on Thursday, July 24th. Barclays reaffirmed an "equal weight" rating and set a $30.00 price objective on shares of AT&T in a research report on Wednesday. HSBC lowered AT&T from a "buy" rating to a "hold" rating and set a $30.00 target price on the stock. in a research report on Thursday, July 24th. Finally, Bank of America assumed coverage on AT&T in a report on Monday, July 7th. They issued a "buy" rating and a $32.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price 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.

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