Total Clarity Wealth Management Inc. Invests $239,000 in AT&T Inc. $T

Total Clarity Wealth Management Inc. bought a new position in AT&T Inc. (NYSE:T) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 8,263 shares of the technology company’s stock, valued at approximately $239,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Stone House Investment Management LLC purchased a new position in shares of AT&T in the 1st quarter worth approximately $25,000. O Brien Wealth Partners LLC bought a new stake in shares of AT&T during the 2nd quarter worth approximately $26,000. Hager Investment Management Services LLC lifted its stake in shares of AT&T by 182.1% during the 1st 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 last quarter. Kennebec Savings Bank lifted its stake in shares of AT&T by 412.1% during the 2nd quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock worth $28,000 after acquiring an additional 783 shares during the last quarter. Finally, Core Alternative Capital lifted its stake in shares of AT&T by 125.4% during the 1st 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 last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on T shares. UBS Group set a $33.00 price target on AT&T in a research note on Thursday, September 18th. HSBC lowered AT&T from a “buy” rating to a “hold” rating and set a $30.00 price target for the company. in a research note on Thursday, July 24th. Wells Fargo & Company raised their price target on AT&T from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Thursday, July 10th. Scotiabank set a $30.25 price target on AT&T and gave the stock a “sector perform” rating in a research note on Monday, October 6th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and set a $33.00 target price (up from $31.00) on shares of AT&T in a research report on Thursday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, AT&T has a consensus rating of “Moderate Buy” and an average target price of $30.75.

AT&T Trading Down 1.2%

Shares of NYSE T opened at $25.57 on Tuesday. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01. The business has a fifty day simple moving average of $28.41 and a two-hundred day simple moving average of $27.86. The firm has a market cap of $182.80 billion, a PE ratio of 14.53, a price-to-earnings-growth ratio of 2.10 and a beta of 0.42. AT&T Inc. has a twelve month low of $21.05 and a twelve month high of $29.79.

AT&T (NYSE:T) last issued its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.01. The business had revenue of $30.85 billion during the quarter, compared to analyst estimates of $30.44 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%.AT&T’s revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.51 EPS. Analysts expect 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, November 3rd. Stockholders of record on Friday, October 10th will be given a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend is Friday, October 10th. AT&T’s payout ratio is presently 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.