Ibex Wealth Advisors Acquires 36,892 Shares of AT&T Inc. $T

Ibex Wealth Advisors lifted its stake in shares of AT&T Inc. (NYSE:T) by 6.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 592,694 shares of the technology company’s stock after buying an additional 36,892 shares during the quarter. AT&T comprises about 1.8% of Ibex Wealth Advisors’ holdings, making the stock its 9th biggest holding. Ibex Wealth Advisors’ holdings in AT&T were worth $17,153,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of T. Stone House Investment Management LLC acquired a new position in AT&T in the first quarter valued at $25,000. O Brien Wealth Partners LLC purchased a new position in shares of AT&T during the second quarter worth about $26,000. Hager Investment Management Services LLC increased its position in AT&T by 182.1% in the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock valued at $28,000 after acquiring an additional 641 shares during the period. Kennebec Savings Bank increased its position in AT&T by 412.1% in the 2nd quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock valued at $28,000 after acquiring an additional 783 shares during the period. Finally, Solstein Capital LLC raised its stake in AT&T by 217.3% during the 2nd quarter. Solstein Capital LLC now owns 952 shares of the technology company’s stock valued at $28,000 after acquiring an additional 652 shares during the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on T shares. Scotiabank set a $30.25 target price on shares of AT&T and gave the company a “sector perform” rating in a report on Monday, October 6th. Hsbc Global Res lowered AT&T from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 24th. Wells Fargo & Company dropped their target price on AT&T from $31.00 to $29.00 and set an “overweight” rating on the stock in a research report on Thursday, October 16th. Cowen reissued a “hold” rating on shares of AT&T in a research note on Thursday, October 23rd. Finally, Sanford C. Bernstein lifted their price target on AT&T from $31.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, September 4th. One investment 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 data from MarketBeat.com, AT&T has an average rating of “Moderate Buy” and a consensus target price of $30.67.

AT&T Trading Up 0.3%

Shares of AT&T stock opened at $24.81 on Monday. AT&T Inc. has a 1 year low of $21.38 and a 1 year high of $29.79. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.01 and a quick ratio of 0.96. The business has a 50 day moving average price of $27.14 and a 200 day moving average price of $27.63. The company has a market capitalization of $175.85 billion, a P/E ratio of 8.05, a P/E/G ratio of 2.16 and a beta of 0.40.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.54. The company had revenue of $30.71 billion for 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 revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period last year, the company earned $0.60 EPS. Sell-side analysts anticipate that AT&T Inc. will post 2.14 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Friday, October 10th were issued a $0.2775 dividend. The ex-dividend date was Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.5%. AT&T’s dividend payout ratio (DPR) is presently 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.