KFG Wealth Management LLC Purchases 786 Shares of AT&T Inc. $T

KFG Wealth Management LLC raised its holdings in shares of AT&T Inc. (NYSE:T) by 9.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,854 shares of the technology company’s stock after purchasing an additional 786 shares during the quarter. KFG Wealth Management LLC’s holdings in AT&T were worth $256,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. McGlone Suttner Wealth Management Inc. lifted its position in shares of AT&T by 5.8% during the second quarter. McGlone Suttner Wealth Management Inc. now owns 25,300 shares of the technology company’s stock valued at $732,000 after purchasing an additional 1,398 shares in the last quarter. Chapin Davis Inc. lifted its position in shares of AT&T by 598.8% during the 2nd quarter. Chapin Davis Inc. now owns 167,181 shares of the technology company’s stock worth $4,838,000 after buying an additional 143,258 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of AT&T by 18.5% in the 2nd quarter. GAMMA Investing LLC now owns 195,788 shares of the technology company’s stock worth $5,666,000 after buying an additional 30,530 shares during the last quarter. S.A. Mason LLC boosted its stake in shares of AT&T by 19.1% in the 2nd quarter. S.A. Mason LLC now owns 6,361 shares of the technology company’s stock worth $184,000 after buying an additional 1,021 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC grew its holdings in shares of AT&T by 51.5% in the second quarter. U.S. Capital Wealth Advisors LLC now owns 1,125,676 shares of the technology company’s stock valued at $32,577,000 after acquiring an additional 382,454 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Down 0.3%

Shares of NYSE T opened at $28.92 on Tuesday. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01. The company has a market cap of $206.79 billion, a P/E ratio of 16.43, a P/E/G ratio of 3.59 and a beta of 0.44. AT&T Inc. has a 52 week low of $21.05 and a 52 week high of $29.79. The business has a 50-day simple moving average of $28.49 and a two-hundred day simple moving average of $27.84.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.01. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The firm had revenue of $30.85 billion for the quarter, compared to analysts’ expectations of $30.44 billion. During the same period in the prior year, the business posted $0.51 earnings per share. The company’s revenue was up 3.4% on a year-over-year basis. Research analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were issued 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 dividend payout ratio (DPR) is presently 63.07%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. HSBC cut AT&T from a “buy” rating to a “hold” rating and set a $30.00 price objective on the stock. in a research report on Thursday, July 24th. Morgan Stanley lifted their target price on AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 16th. UBS Group set a $33.00 price target on shares of AT&T in a research report on Thursday. Sanford C. Bernstein raised their price objective on shares of AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, September 4th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and issued a $33.00 price objective (up previously from $31.00) on shares of AT&T in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, AT&T presently has an average rating of “Moderate Buy” and an average price target of $30.74.

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.