Fairvoy Private Wealth LLC Boosts Holdings in AT&T Inc. $T

Fairvoy Private Wealth LLC lifted its stake in AT&T Inc. (NYSE:T) by 10.5% in the 2nd quarter, HoldingsChannel reports. The firm owned 14,627 shares of the technology company’s stock after buying an additional 1,385 shares during the quarter. Fairvoy Private Wealth LLC’s holdings in AT&T were worth $423,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC lifted its position in AT&T by 26.5% during the 4th quarter. Brighton Jones LLC now owns 48,579 shares of the technology company’s stock valued at $1,106,000 after acquiring an additional 10,188 shares during the period. Hennion & Walsh Asset Management Inc. lifted its position in AT&T by 24.1% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 14,035 shares of the technology company’s stock valued at $397,000 after acquiring an additional 2,725 shares during the period. Beacon Financial Group lifted its position in AT&T by 2.9% during the 1st quarter. Beacon Financial Group now owns 14,976 shares of the technology company’s stock valued at $424,000 after acquiring an additional 417 shares during the period. Fermata Advisors LLC purchased a new position in AT&T during the 1st quarter valued at about $227,000. Finally, Chesley Taft & Associates LLC lifted its position in AT&T by 5.0% during the 1st quarter. Chesley Taft & Associates LLC now owns 38,503 shares of the technology company’s stock valued at $1,089,000 after acquiring an additional 1,832 shares during the period. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Stock Performance

Shares of T stock opened at $27.06 on Friday. The company has a 50 day moving average price of $28.60 and a 200-day moving average price of $27.91. AT&T Inc. has a 52 week low of $21.05 and a 52 week high of $29.79. The firm has a market capitalization of $193.49 billion, a PE ratio of 15.38, a P/E/G ratio of 3.46 and a beta of 0.42. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01.

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

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 4.1%. The ex-dividend date is Friday, October 10th. AT&T’s payout ratio is 63.07%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on T shares. Morgan Stanley lifted their price target 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 price target on shares of AT&T in a research report on Thursday, September 18th. 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. The Goldman Sachs Group started coverage on shares of AT&T in a research report on Tuesday, September 2nd. They set a “buy” rating and a $32.00 price target for the company. Finally, Hsbc Global Res cut shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $30.74.

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.