AT&T Inc. $T Shares Purchased by Heritage Financial Services LLC

Heritage Financial Services LLC grew its position in shares of AT&T Inc. (NYSE:T) by 35.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,899 shares of the technology company’s stock after acquiring an additional 3,640 shares during the quarter. Heritage Financial Services LLC’s holdings in AT&T were worth $402,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Stone House Investment Management LLC acquired a new position in shares of AT&T during the first quarter worth approximately $25,000. O Brien Wealth Partners LLC acquired a new position in AT&T during the 2nd quarter worth $26,000. Hager Investment Management Services LLC boosted its position in AT&T by 182.1% during the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock worth $28,000 after acquiring an additional 641 shares during the period. Core Alternative Capital grew its stake in shares of AT&T by 125.4% in the first quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock worth $29,000 after purchasing an additional 568 shares in the last quarter. Finally, IMA Advisory Services Inc. acquired a new position in shares of AT&T during the first quarter valued at $29,000. Institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

T has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their price objective on shares of AT&T from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. UBS Group set a $33.00 price target on shares of AT&T in a research report on Thursday, September 18th. Citigroup reaffirmed a “buy” rating on shares of AT&T in a research note on Tuesday, August 26th. JPMorgan Chase & Co. increased their price objective on shares of AT&T from $31.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Finally, Bank of America began coverage on AT&T in a report on Monday, July 7th. They set a “buy” rating and a $32.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $30.74.

AT&T Trading Down 2.5%

AT&T stock opened at $27.55 on Thursday. The firm has a market cap of $196.96 billion, a price-to-earnings ratio of 15.65, a price-to-earnings-growth ratio of 3.62 and a beta of 0.42. AT&T Inc. has a 1 year low of $21.05 and a 1 year high of $29.79. The firm’s 50 day moving average price is $28.63 and its two-hundred day moving average price is $27.91. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81.

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

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be issued a dividend of $0.2775 per share. The ex-dividend date is Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.0%. AT&T’s dividend payout ratio (DPR) is currently 63.07%.

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.