Arkfeld Wealth Strategies L.L.C. Grows Position in AT&T Inc. $T

Arkfeld Wealth Strategies L.L.C. increased its holdings in AT&T Inc. (NYSE:T) by 4.9% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 25,454 shares of the technology company’s stock after purchasing an additional 1,178 shares during the period. Arkfeld Wealth Strategies L.L.C.’s holdings in AT&T were worth $723,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of T. Capital A Wealth Management LLC purchased a new stake in AT&T in the fourth quarter worth approximately $25,000. Stone House Investment Management LLC bought a new position in shares of AT&T during the 1st quarter valued at $25,000. O Brien Wealth Partners LLC purchased a new position in shares of AT&T in the 2nd quarter worth $26,000. Putney Financial Group LLC purchased a new position in shares of AT&T in the 4th quarter worth $27,000. Finally, Hager Investment Management Services LLC grew its holdings 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 worth $28,000 after acquiring an additional 641 shares during the period. Institutional investors own 57.10% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on T. Morgan Stanley increased their target price on AT&T from $31.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday, July 16th. Sanford C. Bernstein increased their price objective on shares of AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, September 4th. UBS Group set a $33.00 target price on shares of AT&T in a research report on Thursday. Scotiabank upped their target price on shares of AT&T from $29.50 to $30.00 and gave the company a “sector outperform” rating in a report on Friday, July 11th. Finally, Hsbc Global Res cut shares of AT&T from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and an average target price of $30.74.

AT&T Trading Down 1.1%

Shares of AT&T stock opened at $29.21 on Friday. AT&T Inc. has a twelve month low of $21.05 and a twelve month 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. The business has a 50-day moving average price of $28.41 and a 200-day moving average price of $27.79. The firm has a market cap of $208.83 billion, a price-to-earnings ratio of 16.59, a PEG ratio of 3.65 and a beta of 0.44.

AT&T (NYSE:T) last posted its earnings results on Wednesday, July 23rd. The technology company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.01. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The company had revenue of $30.85 billion for the quarter, compared to the consensus estimate of $30.44 billion. During the same period in the previous year, the business earned $0.51 earnings per share. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. Equities research analysts anticipate that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were issued a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.8%. AT&T’s dividend payout ratio (DPR) is 63.07%.

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.