Goldstone Financial Group LLC Purchases 4,258 Shares of AT&T Inc. $T

Goldstone Financial Group LLC raised its position in shares of AT&T Inc. (NYSE:T) by 12.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,802 shares of the technology company’s stock after acquiring an additional 4,258 shares during the period. Goldstone Financial Group LLC’s holdings in AT&T were worth $1,072,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Capital A Wealth Management LLC bought a new stake in shares of AT&T during the fourth quarter worth approximately $25,000. Stone House Investment Management LLC bought a new stake in shares of AT&T during the first quarter worth approximately $25,000. Putney Financial Group LLC bought a new stake in shares of AT&T during the fourth quarter worth approximately $27,000. Hager Investment Management Services LLC boosted its holdings in shares of 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 acquiring an additional 641 shares during the period. Finally, Core Alternative Capital boosted its holdings in shares of AT&T by 125.4% during the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock worth $29,000 after acquiring an additional 568 shares during the period. Institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on T. Bank of America initiated coverage on AT&T in a report on Monday, July 7th. They set a “buy” rating and a $32.00 price objective for the company. Wells Fargo & Company lifted their price target on shares of AT&T from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Thursday, July 10th. Sanford C. Bernstein lifted their price target on shares of AT&T from $31.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, September 4th. HSBC downgraded shares of AT&T from a “buy” rating to a “hold” rating and set a $30.00 price target for the company. in a research report on Thursday, July 24th. Finally, Scotiabank lifted their price target on shares of AT&T from $29.50 to $30.00 and gave the company a “sector outperform” rating in a research report on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $30.60.

AT&T Stock Up 0.3%

Shares of T opened at $29.59 on Monday. AT&T Inc. has a one year low of $21.05 and a one year high of $29.79. The company has a market cap of $211.58 billion, a P/E ratio of 16.81, a P/E/G ratio of 3.68 and a beta of 0.44. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76. The firm has a 50 day simple moving average of $28.31 and a two-hundred day simple moving average of $27.74.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.53 by $0.01. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The business had revenue of $30.85 billion during the quarter, compared to the consensus estimate of $30.44 billion. During the same period in the previous year, the business earned $0.51 earnings per share. The company’s revenue was up 3.4% on a year-over-year basis. Research analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 3.8%. The ex-dividend date was Thursday, July 10th. AT&T’s payout ratio is currently 63.07%.

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.