Ashton Thomas Private Wealth LLC Raises Stock Position in AT&T Inc. (NYSE:T)

Ashton Thomas Private Wealth LLC grew its holdings in shares of AT&T Inc. (NYSE:T) by 4.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,931 shares of the technology company’s stock after buying an additional 1,823 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in AT&T were worth $744,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in T. Vantage Financial Partners LLC lifted its position in AT&T by 25.5% in the fourth quarter. Vantage Financial Partners LLC now owns 38,207 shares of the technology company’s stock worth $641,000 after buying an additional 7,762 shares during the last quarter. Gilbert & Cook Inc. lifted its holdings in shares of AT&T by 4.1% in the 4th quarter. Gilbert & Cook Inc. now owns 31,130 shares of the technology company’s stock worth $522,000 after acquiring an additional 1,212 shares during the last quarter. Aveo Capital Partners LLC boosted its stake in shares of AT&T by 4.5% during the 4th quarter. Aveo Capital Partners LLC now owns 27,770 shares of the technology company’s stock worth $466,000 after purchasing an additional 1,194 shares during the period. Gryphon Financial Partners LLC grew its holdings in AT&T by 21.8% during the 4th quarter. Gryphon Financial Partners LLC now owns 27,253 shares of the technology company’s stock valued at $477,000 after purchasing an additional 4,870 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC raised its position in AT&T by 15.3% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 41,194 shares of the technology company’s stock worth $691,000 after purchasing an additional 5,466 shares during the period. Institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on T. UBS Group reaffirmed a “buy” rating and set a $24.00 target price on shares of AT&T in a research note on Tuesday, June 18th. Daiwa America raised AT&T to a “hold” rating in a research report on Friday, July 26th. TD Cowen lifted their target price on AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Oppenheimer upped their price target on shares of AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Moffett Nathanson lifted their price objective on shares of AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $22.06.

AT&T Stock Up 1.0 %

NYSE:T opened at $21.71 on Wednesday. The company’s 50-day simple moving average is $19.42 and its 200-day simple moving average is $18.09. 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 $14.12 and a fifty-two week high of $21.86. The stock has a market capitalization of $155.66 billion, a P/E ratio of 11.67, a P/E/G ratio of 3.57 and a beta of 0.59.

AT&T (NYSE:T) last announced its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, meeting the consensus estimate of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The company had revenue of $29.80 billion during the quarter, compared to the consensus estimate of $30.05 billion. During the same period last year, the firm earned $0.63 earnings per share. AT&T’s revenue was down .3% compared to the same quarter last year. On average, equities analysts anticipate that AT&T Inc. will post 2.2 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were given a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 5.11%. The ex-dividend date of this dividend was Wednesday, July 10th. AT&T’s payout ratio is currently 59.68%.

AT&T 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.