Accel Wealth Management Grows Stock Position in AT&T Inc. $T

Accel Wealth Management grew its holdings in shares of AT&T Inc. (NYSE:T) by 12.3% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,128 shares of the technology company’s stock after purchasing an additional 1,547 shares during the quarter. Accel Wealth Management’s holdings in AT&T were worth $409,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in T. Stone House Investment Management LLC purchased a new stake in shares of AT&T during the 1st quarter valued at about $25,000. O Brien Wealth Partners LLC purchased a new stake in shares of AT&T during the 2nd quarter valued at about $26,000. Hager Investment Management Services LLC increased its position in shares of AT&T by 182.1% during the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock valued at $28,000 after purchasing an additional 641 shares during the last quarter. Kennebec Savings Bank increased its position in shares of AT&T by 412.1% during the 2nd quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock valued at $28,000 after purchasing an additional 783 shares during the last quarter. Finally, Core Alternative Capital grew its stake in shares of AT&T by 125.4% during the 1st quarter. Core Alternative Capital now owns 1,021 shares of the technology company’s stock valued at $29,000 after acquiring an additional 568 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 0.2%

Shares of T opened at $27.06 on Friday. The company has a market cap of $193.49 billion, a PE ratio of 15.38, a P/E/G ratio of 3.46 and a beta of 0.42. The business has a fifty day moving average of $28.60 and a 200 day moving average of $27.92. 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.

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. The company had revenue of $30.85 billion during the quarter, compared to the consensus estimate of $30.44 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%.AT&T’s revenue was up 3.4% on a year-over-year basis. During the same period last year, the company earned $0.51 earnings per share. On average, sell-side analysts expect that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be paid a $0.2775 dividend. The ex-dividend date is Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.1%. AT&T’s dividend payout ratio (DPR) is presently 63.07%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on T shares. Raymond James Financial reiterated a “strong-buy” rating and set a $33.00 price objective (up from $31.00) on shares of AT&T in a research note on Thursday, September 18th. Hsbc Global Res downgraded AT&T from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 24th. Bank of America started coverage on AT&T in a research note on Monday, July 7th. They set a “buy” rating and a $32.00 price objective for the company. Sanford C. Bernstein boosted their price objective on AT&T from $31.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, September 4th. Finally, The Goldman Sachs Group started coverage on AT&T in a research note on Tuesday, September 2nd. They set a “buy” rating and a $32.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, AT&T currently has an average rating of “Moderate Buy” and an average target price of $30.74.

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.