Litman Gregory Wealth Management LLC Has $591,000 Holdings in AT&T Inc. $T

Litman Gregory Wealth Management LLC raised its position in shares of AT&T Inc. (NYSE:T) by 60.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,410 shares of the technology company’s stock after acquiring an additional 7,660 shares during the period. Litman Gregory Wealth Management LLC’s holdings in AT&T were worth $591,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Stone House Investment Management LLC bought a new position in AT&T during the first quarter worth about $25,000. O Brien Wealth Partners LLC acquired a new position in shares of AT&T during the 2nd quarter worth approximately $26,000. Kennebec Savings Bank increased its holdings in shares of AT&T by 412.1% during the second quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock worth $28,000 after purchasing an additional 783 shares during the period. Hager Investment Management Services LLC raised its position in shares of AT&T by 182.1% in the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock valued at $28,000 after buying an additional 641 shares in the last quarter. Finally, IMA Advisory Services Inc. acquired a new stake in shares of AT&T in the first quarter valued at approximately $29,000. Institutional investors own 57.10% of the company’s stock.

AT&T Trading Up 0.2%

Shares of AT&T stock opened at $27.06 on Monday. The firm’s 50 day moving average is $28.60 and its 200 day moving average is $27.93. The firm has a market capitalization of $193.49 billion, a PE ratio of 15.38, a price-to-earnings-growth ratio of 3.46 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 company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01.

AT&T (NYSE:T) last issued its 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. The firm had revenue of $30.85 billion for the quarter, compared to analyst estimates of $30.44 billion. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The company’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the business posted $0.51 earnings per share. Equities research analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently announced 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. This represents a $1.11 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend is Friday, October 10th. AT&T’s dividend payout ratio is presently 63.07%.

Analyst Ratings Changes

A number of brokerages recently issued reports on T. Hsbc Global Res downgraded AT&T from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 24th. JPMorgan Chase & Co. increased their target price on AT&T from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. The Goldman Sachs Group began coverage on AT&T in a research report on Tuesday, September 2nd. They issued a “buy” rating and a $32.00 price target on the stock. 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 report on Thursday, July 24th. Finally, Bank of America initiated coverage on shares of AT&T in a report on Monday, July 7th. They issued a “buy” rating and a $32.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, AT&T presently has an average rating of “Moderate Buy” and an average price target of $30.75.

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.