Envestnet Portfolio Solutions Inc. Acquires 8,370 Shares of AT&T Inc. (NYSE:T)

Envestnet Portfolio Solutions Inc. grew its position in shares of AT&T Inc. (NYSE:T) by 1.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 438,329 shares of the technology company’s stock after buying an additional 8,370 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in AT&T were worth $8,376,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Frank Rimerman Advisors LLC bought a new position in AT&T during the 4th quarter worth $25,000. Pineridge Advisors LLC acquired a new stake in shares of AT&T during the 4th quarter worth $25,000. First Pacific Financial grew its holdings in shares of AT&T by 166.7% during the 1st quarter. First Pacific Financial now owns 1,600 shares of the technology company’s stock worth $28,000 after purchasing an additional 1,000 shares in the last quarter. Western Pacific Wealth Management LP acquired a new stake in shares of AT&T during the 4th quarter worth $39,000. Finally, ESL Trust Services LLC acquired a new stake in shares of AT&T during the 1st quarter worth $39,000. Institutional investors own 57.10% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. TD Cowen increased their target price on AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. The Goldman Sachs Group initiated coverage on AT&T in a research note on Monday, July 1st. They issued a “buy” rating and a $22.00 price objective on the stock. Oppenheimer raised their price objective on AT&T from $21.00 to $23.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. raised their price objective on AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $22.33.

AT&T Stock Up 0.4 %

AT&T stock traded up $0.08 during mid-day trading on Wednesday, reaching $19.60. The stock had a trading volume of 19,154,233 shares, compared to its average volume of 36,418,266. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. AT&T Inc. has a fifty-two week low of $13.92 and a fifty-two week high of $19.99. The stock’s 50-day simple moving average is $18.74 and its 200-day simple moving average is $17.70. The firm has a market capitalization of $140.54 billion, a PE ratio of 10.54, a price-to-earnings-growth ratio of 3.28 and a beta of 0.58.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, meeting analysts’ consensus estimates of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The firm had revenue of $29.80 billion during the quarter, compared to analysts’ expectations of $30.05 billion. During the same quarter last year, the firm posted $0.63 earnings per share. The company’s revenue for the quarter was down .3% compared to the same quarter last year. On average, sell-side analysts forecast that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were given a dividend of $0.2775 per share. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.66%. AT&T’s payout ratio is 59.68%.

AT&T Company Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.