Grant Private Wealth Management Inc Invests $6.66 Million in AT&T Inc. $T

Grant Private Wealth Management Inc bought a new position in AT&T Inc. (NYSE:T) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 229,950 shares of the technology company’s stock, valued at approximately $6,655,000. AT&T accounts for approximately 3.8% of Grant Private Wealth Management Inc’s portfolio, making the stock its 7th largest position.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of AT&T by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 651,044,650 shares of the technology company’s stock valued at $18,411,543,000 after purchasing an additional 8,185,006 shares during the last quarter. Kingstone Capital Partners Texas LLC acquired a new position in shares of AT&T in the 2nd quarter valued at $5,266,758,000. GQG Partners LLC boosted its holdings in shares of AT&T by 17.7% in the 1st quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock valued at $3,222,711,000 after purchasing an additional 17,177,874 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of AT&T by 3.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 55,216,190 shares of the technology company’s stock valued at $1,561,514,000 after purchasing an additional 1,783,363 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of AT&T by 2.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 53,339,376 shares of the technology company’s stock valued at $1,508,411,000 after purchasing an additional 1,307,009 shares during the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

T has been the topic of a number of research analyst reports. Citigroup reiterated a “buy” rating on shares of AT&T in a report on Tuesday, August 26th. Sanford C. Bernstein lifted their target price on shares of AT&T from $31.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, September 4th. Hsbc Global Res lowered shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 24th. HSBC lowered shares of AT&T from a “buy” rating to a “hold” rating and set a $30.00 target price on the stock. in a report on Thursday, July 24th. Finally, Bank of America initiated coverage on shares of AT&T in a report on Monday, July 7th. They set a “buy” rating and a $32.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $30.74.

AT&T Stock Performance

AT&T stock opened at $29.04 on Friday. The firm’s fifty day moving average price is $28.45 and its 200 day moving average price is $27.82. The company has a market capitalization of $207.65 billion, a price-to-earnings ratio of 16.50, a price-to-earnings-growth ratio of 3.59 and a beta of 0.44. AT&T Inc. has a 12-month low of $21.05 and a 12-month high of $29.79. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76.

AT&T (NYSE:T) last released its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.01. The company had revenue of $30.85 billion during the quarter, compared to the consensus estimate of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The company’s revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.51 EPS. On average, research analysts forecast that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were given a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 3.8%. AT&T’s payout ratio is presently 63.07%.

AT&T Profile

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.