GC Wealth Management RIA LLC Purchases New Holdings in AT&T Inc. $T

GC Wealth Management RIA LLC acquired a new position in AT&T Inc. (NYSE:T) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 38,952 shares of the technology company’s stock, valued at approximately $1,127,000.

Several other institutional investors have also added to or reduced their stakes in T. Stone House Investment Management LLC purchased a new stake in shares of AT&T in the first quarter worth approximately $25,000. O Brien Wealth Partners LLC bought a new position in AT&T in the 2nd quarter valued at $26,000. Hager Investment Management Services LLC increased its stake in AT&T by 182.1% in 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. IMA Advisory Services Inc. bought a new stake in shares of AT&T during the first quarter worth $29,000. Finally, Core Alternative Capital lifted its position 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 purchasing an additional 568 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Trading Down 0.8%

NYSE:T opened at $28.07 on Tuesday. The firm has a 50-day simple moving average of $28.62 and a 200-day simple moving average of $27.91. AT&T Inc. has a one year low of $21.05 and a one year high of $29.79. The firm has a market cap of $200.71 billion, a P/E ratio of 15.95, a P/E/G ratio of 3.62 and a beta of 0.44. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.01. The company had revenue of $30.85 billion for the quarter, compared to analyst estimates 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 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 analysts anticipate that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors 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 4.0%. The ex-dividend date is Friday, October 10th. AT&T’s dividend payout ratio is 63.07%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on T. Hsbc Global Res lowered shares of AT&T from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 24th. Morgan Stanley boosted their price objective on shares of AT&T from $31.00 to $32.00 and gave the company an “overweight” rating in a research report on Wednesday, July 16th. UBS Group set a $33.00 target price on shares of AT&T in a research report on Thursday, September 18th. Citigroup reaffirmed a “buy” rating on shares of AT&T in a research note on Tuesday, August 26th. Finally, Sanford C. Bernstein boosted their price target on AT&T from $31.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, September 4th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $30.74.

AT&T Company 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.