Global Wealth Management Investment Advisory Inc. Invests $212,000 in AT&T Inc. $T

Global Wealth Management Investment Advisory Inc. acquired a new stake in shares of AT&T Inc. (NYSE:T) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 7,323 shares of the technology company’s stock, valued at approximately $212,000.

Other hedge funds have also made changes to their positions in the company. Sound View Wealth Advisors Group LLC increased its stake in AT&T by 63.2% during the second quarter. Sound View Wealth Advisors Group LLC now owns 31,127 shares of the technology company’s stock valued at $901,000 after acquiring an additional 12,059 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of AT&T by 1.7% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,725,831 shares of the technology company’s stock worth $49,946,000 after acquiring an additional 28,548 shares during the period. Delta Financial Advisors LLC grew its holdings in shares of AT&T by 9.9% during the 2nd quarter. Delta Financial Advisors LLC now owns 32,276 shares of the technology company’s stock worth $934,000 after purchasing an additional 2,919 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of AT&T by 7.3% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 13,737,363 shares of the technology company’s stock valued at $397,559,000 after purchasing an additional 937,852 shares during the period. Finally, Parkside Financial Bank & Trust increased its position in shares of AT&T by 1.7% during the second quarter. Parkside Financial Bank & Trust now owns 52,994 shares of the technology company’s stock valued at $1,534,000 after purchasing an additional 865 shares during the period. Institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on T. The Goldman Sachs Group assumed coverage on AT&T in a research report on Tuesday, September 2nd. They issued a “buy” rating and a $32.00 target price for the company. Wells Fargo & Company dropped their price objective on shares of AT&T from $31.00 to $29.00 and set an “overweight” rating for the company in a research note on Thursday, October 16th. HSBC lowered shares of AT&T from a “buy” rating to a “hold” rating and set a $30.00 target price on the stock. in a research report on Thursday, July 24th. UBS Group reissued a “buy” rating on shares of AT&T in a research report on Thursday, October 23rd. Finally, Barclays decreased their price objective on AT&T from $30.00 to $28.00 and set an “equal weight” rating on the stock in a report on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $30.67.

AT&T Price Performance

Shares of AT&T stock opened at $24.81 on Monday. The stock has a market capitalization of $175.85 billion, a price-to-earnings ratio of 8.05, a P/E/G ratio of 2.16 and a beta of 0.40. The firm’s 50-day moving average price is $27.14 and its two-hundred day moving average price is $27.63. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 1.01. AT&T Inc. has a 1-year low of $21.38 and a 1-year high of $29.79.

AT&T (NYSE:T) last posted its earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share (EPS) for the quarter, meeting 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%. AT&T’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 earnings per share. On average, equities analysts predict that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Friday, October 10th were paid a $0.2775 dividend. The ex-dividend date of this dividend was Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.5%. AT&T’s payout ratio is currently 36.04%.

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.