FourThought Financial Partners LLC Raises Stake in AT&T Inc. $T

FourThought Financial Partners LLC grew its holdings in AT&T Inc. (NYSE:T) by 5.5% in the second quarter, Holdings Channel.com reports. The institutional investor owned 97,637 shares of the technology company’s stock after acquiring an additional 5,104 shares during the quarter. FourThought Financial Partners LLC’s holdings in AT&T were worth $2,826,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Stone House Investment Management LLC purchased a new stake in AT&T during the 1st quarter valued at approximately $25,000. O Brien Wealth Partners LLC purchased a new position in shares of AT&T in the 2nd quarter valued at approximately $26,000. Solstein Capital LLC increased its holdings in shares of AT&T by 217.3% in the second quarter. Solstein Capital LLC now owns 952 shares of the technology company’s stock valued at $28,000 after purchasing an additional 652 shares during the period. Kennebec Savings Bank increased its holdings in shares of AT&T by 412.1% in the second 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 period. Finally, Curio Wealth LLC raised its stake in shares of AT&T by 26,100.0% during the second quarter. Curio Wealth LLC now owns 1,048 shares of the technology company’s stock worth $30,000 after purchasing an additional 1,044 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on T shares. Wells Fargo & Company lowered their price objective on shares of AT&T from $31.00 to $29.00 and set an “overweight” rating on the stock in a research report on Thursday, October 16th. KeyCorp upgraded shares of AT&T from a “sector weight” rating to an “overweight” rating and set a $30.00 target price for the company in a research note on Tuesday, November 11th. Citigroup reaffirmed a “buy” rating on shares of AT&T in a report on Tuesday, August 26th. Wall Street Zen lowered shares of AT&T from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of AT&T in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $30.64.

AT&T Stock Performance

NYSE:T opened at $25.60 on Tuesday. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 1.01. AT&T Inc. has a fifty-two week low of $21.38 and a fifty-two week high of $29.79. The stock has a market cap of $181.49 billion, a PE ratio of 8.31, a price-to-earnings-growth ratio of 2.16 and a beta of 0.40. The firm’s fifty day simple moving average is $26.29 and its 200-day simple moving average is $27.46.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, October 22nd. The technology company reported $0.54 EPS for the quarter, meeting the consensus estimate of $0.54. The firm 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 business’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.60 earnings per share. Analysts expect that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Friday, October 10th were paid a dividend of $0.2775 per share. The ex-dividend date of this dividend was Friday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.3%. AT&T’s payout ratio is 36.04%.

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.