Warren Street Wealth Advisors LLC Invests $251,000 in AT&T Inc. $T

Warren Street Wealth Advisors LLC purchased a new position in shares of AT&T Inc. (NYSE:T) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 8,663 shares of the technology company’s stock, valued at approximately $251,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in T. Brighton Jones LLC increased its holdings in AT&T by 26.5% in the 4th quarter. Brighton Jones LLC now owns 48,579 shares of the technology company’s stock valued at $1,106,000 after purchasing an additional 10,188 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its holdings in AT&T by 24.1% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 14,035 shares of the technology company’s stock valued at $397,000 after purchasing an additional 2,725 shares during the last quarter. Apella Capital LLC increased its holdings in AT&T by 18.0% in the 1st quarter. Apella Capital LLC now owns 34,911 shares of the technology company’s stock valued at $924,000 after purchasing an additional 5,321 shares during the last quarter. Amplius Wealth Advisors LLC increased its holdings in AT&T by 18.2% in the 1st quarter. Amplius Wealth Advisors LLC now owns 15,224 shares of the technology company’s stock valued at $431,000 after purchasing an additional 2,342 shares during the last quarter. Finally, Contravisory Investment Management Inc. increased its holdings in AT&T by 89.5% in the 1st quarter. Contravisory Investment Management Inc. now owns 40,242 shares of the technology company’s stock valued at $1,138,000 after purchasing an additional 19,011 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on T shares. Scotiabank lifted their target price on shares of AT&T from $29.50 to $30.00 and gave the company a “sector outperform” rating in a report on Friday, July 11th. Citigroup reissued a “buy” rating on shares of AT&T in a research report on Tuesday, August 26th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $33.00 price objective (up from $31.00) on shares of AT&T in a research report on Thursday, September 18th. Hsbc Global Res cut shares of AT&T from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 24th. Finally, Wells Fargo & Company boosted their price target on shares of AT&T from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $30.74.

AT&T Trading Down 2.5%

Shares of AT&T stock opened at $27.55 on Thursday. AT&T Inc. has a 52-week low of $21.05 and a 52-week high of $29.79. 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’s 50-day simple moving average is $28.63 and its 200-day simple moving average is $27.91. 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 (NYSE:T) last issued its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.01. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The business 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 business posted $0.51 earnings per share. The business’s revenue was up 3.4% compared to the same quarter last year. As a group, equities research analysts anticipate that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Dividend Announcement

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