Sound Income Strategies LLC Has $25.81 Million Stock Holdings in AT&T Inc. $T

Key Points

• Sound Income Strategies LLC has increased its stake in AT&T Inc. by 5.8%, owning 891,758 shares valued at approximately $25.81 million, making it the firm’s 15th largest position.
• AT&T reported earnings of $0.54 per share for the last quarter, beating analyst estimates, with revenues of $30.85 billion, reflecting a 3.4% year-over-year increase.
• The company announced a quarterly dividend of $0.2775 per share, yielding 3.9%, payable on November 3rd to shareholders of record by October 10th.

Sound Income Strategies LLC increased its position in AT&T Inc. (NYSE:T - Free Report) by 5.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 891,758 shares of the technology company's stock after purchasing an additional 48,870 shares during the quarter. AT&T makes up 1.5% of Sound Income Strategies LLC's holdings, making the stock its 15th largest position. Sound Income Strategies LLC's holdings in AT&T were worth $25,807,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Stone House Investment Management LLC acquired a new position in shares of AT&T during the 1st quarter worth approximately $25,000. O Brien Wealth Partners LLC acquired a new stake in AT&T during the 2nd quarter valued at $26,000. Hager Investment Management Services LLC boosted its position in AT&T by 182.1% during the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company's stock worth $28,000 after purchasing an additional 641 shares during the period. Core Alternative Capital increased its holdings in shares of AT&T by 125.4% in the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company's stock valued at $29,000 after purchasing an additional 568 shares during the last quarter. Finally, IMA Advisory Services Inc. bought a new position in shares of AT&T in the first quarter valued at about $29,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Up 0.0%

Shares of T opened at $28.31 on Monday. 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 Inc. has a 12 month low of $21.05 and a 12 month high of $29.79. The firm's 50 day moving average is $28.61 and its 200-day moving average is $27.90. The stock has a market capitalization of $202.43 billion, a PE ratio of 16.09, a P/E/G ratio of 3.62 and a beta of 0.44.

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

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders 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 yield of 3.9%. The ex-dividend date is Friday, October 10th. AT&T's dividend payout ratio is presently 63.07%.

Wall Street Analyst Weigh In

Several analysts recently commented on T shares. JPMorgan Chase & Co. lifted their target price on shares of AT&T from $31.00 to $33.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. UBS Group set a $33.00 price objective on shares of AT&T in a research report on Thursday, September 18th. Raymond James Financial restated a "strong-buy" rating and set a $33.00 price objective (up previously from $31.00) on shares of AT&T in a report on Thursday, September 18th. 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 note on Thursday, July 24th. Finally, Morgan Stanley lifted their price target on AT&T from $31.00 to $32.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus 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.

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