Hurlow Wealth Management Group Inc. Takes Position in AT&T Inc. $T

Hurlow Wealth Management Group Inc. bought a new stake in AT&T Inc. (NYSE:T) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,935 shares of the technology company’s stock, valued at approximately $201,000.

A number of other large investors also recently modified their holdings of the stock. Moody National Bank Trust Division lifted its holdings in shares of AT&T by 33.5% in the second quarter. Moody National Bank Trust Division now owns 57,954 shares of the technology company’s stock valued at $1,677,000 after purchasing an additional 14,552 shares in the last quarter. Contravisory Investment Management Inc. lifted its holdings in shares of AT&T by 2.4% in the second quarter. Contravisory Investment Management Inc. now owns 41,208 shares of the technology company’s stock valued at $1,193,000 after purchasing an additional 966 shares in the last quarter. Mogy Joel R Investment Counsel Inc. lifted its holdings in shares of AT&T by 1.9% in the second quarter. Mogy Joel R Investment Counsel Inc. now owns 25,445 shares of the technology company’s stock valued at $736,000 after purchasing an additional 464 shares in the last quarter. Ferguson Wellman Capital Management Inc. lifted its holdings in shares of AT&T by 1.5% in the second quarter. Ferguson Wellman Capital Management Inc. now owns 1,515,377 shares of the technology company’s stock valued at $43,855,000 after purchasing an additional 22,092 shares in the last quarter. Finally, Baker Tilly Wealth Management LLC bought a new position in shares of AT&T in the second quarter valued at approximately $201,000. Institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Scotiabank raised their target price on AT&T from $29.50 to $30.00 and gave the company a “sector outperform” rating in a report on Friday, July 11th. Hsbc Global Res lowered AT&T from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 24th. HSBC downgraded AT&T from a “buy” rating to a “hold” rating and set a $30.00 price target for the company. in a research report on Thursday, July 24th. Sanford C. Bernstein increased their price target on AT&T from $31.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, September 4th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and set a $33.00 price target (up from $31.00) on shares of AT&T in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.74.

AT&T Price Performance

AT&T stock opened at $29.21 on Friday. AT&T Inc. has a one year low of $21.05 and a one year high of $29.79. The business has a fifty day moving average price of $28.41 and a 200-day moving average price of $27.79. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76. The firm has a market capitalization of $208.83 billion, a P/E ratio of 16.59, a PEG ratio of 3.65 and a beta of 0.44.

AT&T (NYSE:T) last posted its quarterly 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 firm had revenue of $30.85 billion during the quarter, compared to analyst estimates of $30.44 billion. During the same period last year, the company earned $0.51 earnings per share. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. As a group, equities research analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

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