AT&T Inc. $T Shares Acquired by Philip James Wealth Mangement LLC

Philip James Wealth Mangement LLC grew its stake in shares of AT&T Inc. (NYSE:T) by 3.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,645 shares of the technology company’s stock after purchasing an additional 616 shares during the quarter. Philip James Wealth Mangement LLC’s holdings in AT&T were worth $569,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in T. Kingstone Capital Partners Texas LLC purchased a new stake in shares of AT&T in the second quarter valued at $5,266,758,000. Nuveen LLC bought a new stake in shares of AT&T in the 1st quarter worth approximately $1,072,128,000. GQG Partners LLC boosted its holdings in AT&T by 17.7% during the first 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 in the last quarter. Ontario Teachers Pension Plan Board increased its position in shares of AT&T by 30,527.5% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company’s stock worth $338,213,000 after purchasing an additional 11,920,392 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in AT&T by 350.4% in the 1st quarter. Wellington Management Group LLP now owns 11,363,940 shares of the technology company’s stock valued at $321,372,000 after acquiring an additional 8,841,126 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Trading Down 2.5%

NYSE:T opened at $27.55 on Thursday. AT&T Inc. has a 12 month low of $21.05 and a 12 month high of $29.79. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. The firm’s 50 day moving average is $28.63 and its 200 day moving average is $27.91. The stock has a market capitalization of $196.96 billion, a PE ratio of 15.65, a price-to-earnings-growth ratio of 3.62 and a beta of 0.42.

AT&T (NYSE:T) last issued its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) 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 analyst estimates of $30.44 billion. During the same period in the previous year, the company posted $0.51 earnings per share. The business’s revenue was up 3.4% on a year-over-year basis. Sell-side analysts expect that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be issued a $0.2775 dividend. The ex-dividend date is Friday, October 10th. This represents a $1.11 annualized dividend and a yield of 4.0%. AT&T’s dividend payout ratio is 63.07%.

Analysts Set New Price Targets

T has been the subject of several research analyst reports. Citigroup reissued a “buy” rating on shares of AT&T in a report on Tuesday, August 26th. Morgan Stanley increased 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. Hsbc Global Res lowered shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 24th. Scotiabank boosted their target price on shares of AT&T from $29.50 to $30.00 and gave the stock a “sector outperform” rating in a research note on Friday, July 11th. Finally, Wells Fargo & Company raised their price target on shares of AT&T from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus 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.