Wedmont Private Capital Has $5.34 Million Stake in AT&T Inc. $T

Key Points

• Wedmont Private Capital increased its stake in AT&T by 54%, now owning 189,850 shares valued at approximately $5.34 million.
• AT&T's quarterly earnings report showed revenue of $30.85 billion, surpassing analyst expectations, along with an earnings per share of $0.54.
• Multiple analysts have raised their price targets for AT&T, with JPMorgan Chase setting a new target at $33.00 and maintaining an "overweight" rating.

Wedmont Private Capital grew its stake in shares of AT&T Inc. (NYSE:T - Free Report) by 54.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 189,850 shares of the technology company's stock after buying an additional 66,603 shares during the period. Wedmont Private Capital's holdings in AT&T were worth $5,335,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of T. Brighton Jones LLC lifted its holdings in shares of AT&T by 26.5% in the 4th quarter. Brighton Jones LLC now owns 48,579 shares of the technology company's stock worth $1,106,000 after buying an additional 10,188 shares during the period. Yoffe Investment Management LLC purchased a new stake in AT&T in the fourth quarter valued at about $213,000. Visionary Wealth Advisors raised its stake in AT&T by 24.1% in the fourth quarter. Visionary Wealth Advisors now owns 43,471 shares of the technology company's stock valued at $990,000 after buying an additional 8,449 shares during the last quarter. Waverly Advisors LLC raised its stake in AT&T by 12.0% in the fourth quarter. Waverly Advisors LLC now owns 339,011 shares of the technology company's stock valued at $7,719,000 after buying an additional 36,277 shares during the last quarter. Finally, Glen Eagle Advisors LLC increased its holdings in shares of AT&T by 121.7% in the fourth quarter. Glen Eagle Advisors LLC now owns 31,801 shares of the technology company's stock valued at $724,000 after purchasing an additional 17,459 shares during the period. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

T has been the topic of a number of research reports. HSBC lowered AT&T from a "buy" rating to a "hold" rating and set a $30.00 price objective on the stock. in a report on Thursday, July 24th. Wells Fargo & Company raised their price objective on AT&T from $30.00 to $31.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Citigroup restated a "buy" rating on shares of AT&T in a research report on Tuesday, August 26th. Raymond James Financial reissued a "strong-buy" rating and set a $33.00 target price (up previously from $31.00) on shares of AT&T in a research note on Thursday. Finally, Scotiabank lifted their price objective on AT&T from $29.50 to $30.00 and gave the company a "sector outperform" rating in a research note on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, AT&T presently has a consensus rating of "Moderate Buy" and an average target price of $30.74.

AT&T Stock Down 0.5%

NYSE:T traded down $0.16 during trading hours on Friday, hitting $29.04. 62,059,787 shares of the stock traded hands, compared to its average volume of 28,068,662. The firm has a 50 day moving average price of $28.45 and a 200 day moving average price of $27.81. 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 fifty-two week low of $21.05 and a fifty-two week high of $29.79. The firm has a market cap of $207.65 billion, a price-to-earnings ratio of 16.50, a PEG ratio of 3.61 and a beta of 0.44.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings data 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. The firm 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%. AT&T's revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.51 earnings per share. Equities 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 declared a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend was Thursday, July 10th. AT&T's dividend payout ratio is 63.07%.

About AT&T

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.