Geneos Wealth Management Inc. Decreases Stake in AT&T Inc. (NYSE:T)

Geneos Wealth Management Inc. decreased its position in AT&T Inc. (NYSE:T) by 2.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 100,169 shares of the technology company’s stock after selling 2,893 shares during the period. Geneos Wealth Management Inc.’s holdings in AT&T were worth $1,763,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in T. Texas Capital Bank Wealth Management Services Inc raised its position in AT&T by 1.7% in the 4th quarter. Texas Capital Bank Wealth Management Services Inc now owns 35,098 shares of the technology company’s stock worth $589,000 after purchasing an additional 598 shares during the period. Klingman & Associates LLC raised its position in AT&T by 3.1% in the 1st quarter. Klingman & Associates LLC now owns 19,889 shares of the technology company’s stock worth $350,000 after purchasing an additional 603 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA raised its position in AT&T by 35.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock worth $39,000 after purchasing an additional 606 shares during the period. JB Capital LLC raised its position in AT&T by 2.4% in the 4th quarter. JB Capital LLC now owns 26,620 shares of the technology company’s stock worth $447,000 after purchasing an additional 614 shares during the period. Finally, Fortitude Family Office LLC raised its position in AT&T by 1.5% in the 1st quarter. Fortitude Family Office LLC now owns 41,595 shares of the technology company’s stock worth $732,000 after purchasing an additional 614 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

T has been the topic of a number of recent analyst reports. UBS Group reissued a “buy” rating and issued a $24.00 price target on shares of AT&T in a report on Tuesday, June 18th. Scotiabank raised their price target on shares of AT&T from $22.50 to $23.00 and gave the stock a “sector outperform” rating in a report on Wednesday. The Goldman Sachs Group initiated coverage on shares of AT&T in a report on Monday, July 1st. They issued a “buy” rating and a $22.00 price target on the stock. Oppenheimer reissued an “outperform” rating and issued a $21.00 price target on shares of AT&T in a report on Tuesday, June 25th. Finally, Barclays raised shares of AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 target price on the stock in a research note on Monday, April 29th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $21.85.

AT&T Stock Up 0.6 %

T opened at $18.86 on Friday. The firm has a 50 day moving average price of $17.94 and a 200-day moving average price of $17.31. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $135.23 billion, a price-to-earnings ratio of 10.14, a PEG ratio of 3.54 and a beta of 0.58. AT&T Inc. has a twelve month low of $13.43 and a twelve month high of $19.32.

AT&T (NYSE:T) last announced its earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.02. The company had revenue of $30.03 billion during the quarter, compared to analyst estimates of $30.62 billion. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The firm’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.60 earnings per share. Equities research analysts forecast that AT&T Inc. will post 2.23 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be given a dividend of $0.2775 per share. The ex-dividend date is Wednesday, July 10th. This represents a $1.11 annualized dividend and a yield of 5.89%. AT&T’s dividend payout ratio (DPR) is 59.68%.

About AT&T

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.