HB Wealth Management LLC Purchases 104,559 Shares of AT&T Inc. $T

HB Wealth Management LLC increased its position in AT&T Inc. (NYSE:T) by 10.7% in the third quarter, HoldingsChannel reports. The firm owned 1,085,732 shares of the technology company’s stock after purchasing an additional 104,559 shares during the quarter. HB Wealth Management LLC’s holdings in AT&T were worth $30,661,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in T. J. L. Bainbridge & Co. Inc. lifted its position in AT&T by 1.7% during the second quarter. J. L. Bainbridge & Co. Inc. now owns 21,253 shares of the technology company’s stock valued at $615,000 after buying an additional 355 shares during the period. Financial & Tax Architects LLC increased its stake in shares of AT&T by 4.9% in the 2nd quarter. Financial & Tax Architects LLC now owns 7,588 shares of the technology company’s stock worth $220,000 after acquiring an additional 356 shares in the last quarter. Roberts Glore & Co. Inc. IL lifted its position in AT&T by 2.0% during the 2nd quarter. Roberts Glore & Co. Inc. IL now owns 18,386 shares of the technology company’s stock valued at $532,000 after acquiring an additional 357 shares during the period. Investment Partners LTD. lifted its position in AT&T by 3.5% during the 2nd quarter. Investment Partners LTD. now owns 10,464 shares of the technology company’s stock valued at $303,000 after acquiring an additional 357 shares during the period. Finally, Parcion Private Wealth LLC boosted its stake in AT&T by 2.5% during the second quarter. Parcion Private Wealth LLC now owns 14,910 shares of the technology company’s stock worth $431,000 after acquiring an additional 364 shares in the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Stock Down 1.5%

T stock opened at $23.97 on Thursday. The stock has a market capitalization of $169.90 billion, a P/E ratio of 7.78, a P/E/G ratio of 1.30 and a beta of 0.39. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.01 and a quick ratio of 0.96. AT&T Inc. has a 1-year low of $21.38 and a 1-year high of $29.79. The business has a fifty day moving average price of $24.93 and a 200-day moving average price of $26.83.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, October 22nd. The technology company reported $0.54 EPS for the quarter, meeting the consensus estimate of $0.54. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The company had revenue of $30.71 billion for the quarter, compared to analysts’ expectations of $30.85 billion. During the same period last year, the firm posted $0.60 earnings per share. AT&T’s revenue was up 1.7% compared to the same quarter last year. Equities analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, January 12th will be paid a $0.2775 dividend. The ex-dividend date is Monday, January 12th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.6%. AT&T’s payout ratio is currently 36.04%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on T. Arete downgraded shares of AT&T from a “neutral” rating to a “sell” rating and set a $20.00 target price for the company. in a research note on Tuesday. Wall Street Zen downgraded AT&T from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of AT&T in a research report on Monday, December 29th. KeyCorp raised AT&T from a “sector weight” rating to an “overweight” rating and set a $30.00 target price on the stock in a report on Tuesday, November 11th. Finally, Royal Bank Of Canada cut their target price on AT&T from $31.00 to $30.00 and set an “outperform” rating on the stock in a research note on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and an average price target of $29.42.

About AT&T

AT&T Inc is a global telecommunications company that provides a broad range of communications and digital entertainment services. Its core activities include consumer and business wireless services, broadband and fiber internet, and network infrastructure. The company operates branded wireless services through AT&T Mobility and deploys fixed-line and fiber networks to deliver high-speed internet and related home services.

AT&T’s product and service portfolio spans mobile voice and data plans, smartphones and device sales, home internet (including fiber-to-the-home where available), and managed connectivity solutions for enterprise customers.