Ashton Thomas Private Wealth LLC Raises Position in AT&T Inc. $T

Ashton Thomas Private Wealth LLC grew its position in AT&T Inc. (NYSE:T) by 41.3% during the 2nd quarter, Holdings Channel reports. The fund owned 57,729 shares of the technology company’s stock after buying an additional 16,879 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in AT&T were worth $1,671,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Stone House Investment Management LLC purchased a new stake in shares of AT&T in the first quarter valued at about $25,000. O Brien Wealth Partners LLC purchased a new stake in AT&T during the second quarter worth about $26,000. Hager Investment Management Services LLC boosted its holdings in AT&T by 182.1% during the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock worth $28,000 after buying an additional 641 shares in the last quarter. Kennebec Savings Bank boosted its holdings in 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 buying an additional 783 shares in the last quarter. Finally, Solstein Capital LLC boosted its holdings in AT&T by 217.3% during the second quarter. Solstein Capital LLC now owns 952 shares of the technology company’s stock worth $28,000 after buying an additional 652 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

Shares of T opened at $25.71 on Wednesday. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 1.01. The stock has a market cap of $183.80 billion, a P/E ratio of 8.35, a PEG ratio of 2.07 and a beta of 0.42. The company has a 50-day moving average of $27.83 and a two-hundred day moving average of $27.75. AT&T Inc. has a 12-month low of $21.38 and a 12-month high of $29.79.

AT&T (NYSE:T) last announced its earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.54. The company had revenue of $30.71 billion during the quarter, compared to analysts’ expectations of $30.85 billion. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.60 earnings per share. As a group, research analysts predict that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend is Friday, October 10th. AT&T’s payout ratio is currently 36.04%.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Wall Street Zen raised shares of AT&T from a “hold” rating to a “buy” rating in a report on Saturday. Sanford C. Bernstein boosted their price objective on shares of AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, September 4th. JPMorgan Chase & Co. boosted their price objective on shares of AT&T from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Weiss Ratings reissued a “buy (b)” rating on shares of AT&T in a report on Wednesday, October 8th. Finally, HSBC downgraded shares of AT&T from a “buy” rating to a “hold” rating and set a $30.00 price objective on the stock. in a report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, AT&T currently has an average rating of “Moderate Buy” and an average target price of $30.67.

AT&T Company 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.