Smith Salley Wealth Management Purchases 3,755 Shares of AT&T Inc. $T

Smith Salley Wealth Management increased its position in shares of AT&T Inc. (NYSE:T) by 3.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 123,888 shares of the technology company’s stock after acquiring an additional 3,755 shares during the period. Smith Salley Wealth Management’s holdings in AT&T were worth $3,585,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Stone House Investment Management LLC purchased a new position in AT&T in the 1st quarter worth approximately $25,000. O Brien Wealth Partners LLC purchased a new position in AT&T in the 2nd quarter worth approximately $26,000. Hager Investment Management Services LLC grew its stake in AT&T by 182.1% in the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock worth $28,000 after buying an additional 641 shares in the last quarter. Core Alternative Capital grew its stake in AT&T by 125.4% in the 1st quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock worth $29,000 after buying an additional 568 shares in the last quarter. Finally, IMA Advisory Services Inc. purchased a new position in AT&T in the 1st quarter worth approximately $29,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Trading Up 0.0%

Shares of T opened at $28.31 on Monday. The stock has a market capitalization of $202.43 billion, a P/E ratio of 16.09, a PEG ratio of 3.62 and a beta of 0.44. 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 firm has a fifty day simple moving average of $28.61 and a two-hundred day simple moving average of $27.90. AT&T Inc. has a twelve month low of $21.05 and a twelve month high of $29.79.

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. The business had revenue of $30.85 billion during the quarter, compared to analysts’ expectations of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.51 EPS. On average, research analysts anticipate that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be given a dividend of $0.2775 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.11 annualized dividend and a yield of 3.9%. AT&T’s dividend payout ratio is presently 63.07%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Citigroup reissued a “buy” rating on shares of AT&T in a research note on Tuesday, August 26th. UBS Group set a $33.00 price objective on shares of AT&T in a research note on Thursday, September 18th. HSBC cut shares of AT&T from a “buy” rating to a “hold” rating and set a $30.00 price objective for the company. in a research note on Thursday, July 24th. Bank of America began coverage on shares of AT&T in a research note on Monday, July 7th. They issued a “buy” rating and a $32.00 price objective for the company. Finally, The Goldman Sachs Group began coverage on shares of AT&T in a research note on Tuesday, September 2nd. They issued a “buy” rating and a $32.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $30.74.

AT&T Company 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.