Obermeyer Wealth Partners Takes Position in AT&T Inc. $T

Obermeyer Wealth Partners purchased a new stake in AT&T Inc. (NYSE:T) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 6,946 shares of the technology company’s stock, valued at approximately $201,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Denali Advisors LLC increased its position in AT&T by 5.9% in the 2nd quarter. Denali Advisors LLC now owns 401,037 shares of the technology company’s stock valued at $11,606,000 after buying an additional 22,394 shares in the last quarter. Tredje AP fonden increased its position in AT&T by 1.8% in the 2nd quarter. Tredje AP fonden now owns 1,221,395 shares of the technology company’s stock valued at $35,347,000 after buying an additional 21,720 shares in the last quarter. CHURCHILL MANAGEMENT Corp increased its position in AT&T by 1.5% in the 2nd quarter. CHURCHILL MANAGEMENT Corp now owns 324,104 shares of the technology company’s stock valued at $9,380,000 after buying an additional 4,793 shares in the last quarter. Kickstand Ventures LLC. bought a new stake in AT&T in the 2nd quarter valued at about $489,000. Finally, Sentry Investment Management LLC increased its position in AT&T by 153.2% in the 2nd quarter. Sentry Investment Management LLC now owns 22,095 shares of the technology company’s stock valued at $625,000 after buying an additional 13,370 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

T stock opened at $24.53 on Tuesday. The firm has a market cap of $175.40 billion, a PE ratio of 7.96, a P/E/G ratio of 2.16 and a beta of 0.42. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 1.01. The business has a 50 day moving average of $27.49 and a 200-day moving average of $27.69. AT&T Inc. has a 12-month low of $21.38 and a 12-month high of $29.79.

AT&T (NYSE:T) last released its earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.54. The company had revenue of $30.71 billion during the quarter, compared to analyst estimates of $30.85 billion. AT&T had a return on equity of 12.72% and a net margin of 17.87%.AT&T’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.60 earnings per share. As a group, sell-side 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 was paid on Monday, November 3rd. Stockholders of record on Friday, October 10th were issued a $0.2775 dividend. The ex-dividend date of this dividend was Friday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.5%. AT&T’s dividend payout ratio is currently 36.04%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on T shares. Barclays decreased their target price on AT&T from $30.00 to $28.00 and set an “equal weight” rating for the company in a research report on Thursday, October 23rd. Bank of America assumed 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. Wall Street Zen raised AT&T from a “hold” rating to a “buy” rating in a report on Saturday, October 25th. Sanford C. Bernstein boosted their price objective on AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, September 4th. Finally, Hsbc Global Res lowered AT&T from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $30.67.

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.