Leo Wealth LLC Purchases New Holdings in AT&T Inc. $T

Leo Wealth LLC purchased a new position in shares of AT&T Inc. (NYSE:T) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 79,494 shares of the technology company’s stock, valued at approximately $1,940,000.

Several other large investors also recently modified their holdings of T. Apollon Wealth Management LLC increased its stake in shares of AT&T by 14.2% in the 3rd quarter. Apollon Wealth Management LLC now owns 290,818 shares of the technology company’s stock valued at $7,096,000 after acquiring an additional 36,131 shares in the last quarter. Tower View Wealth Management LLC boosted its stake in AT&T by 396.7% during the third quarter. Tower View Wealth Management LLC now owns 5,652 shares of the technology company’s stock worth $138,000 after acquiring an additional 4,514 shares in the last quarter. Samalin Investment Counsel LLC boosted its stake in AT&T by 5.9% during the third quarter. Samalin Investment Counsel LLC now owns 21,413 shares of the technology company’s stock worth $522,000 after acquiring an additional 1,200 shares in the last quarter. Revolve Wealth Partners LLC grew its holdings in AT&T by 18.8% in the third quarter. Revolve Wealth Partners LLC now owns 19,963 shares of the technology company’s stock worth $487,000 after purchasing an additional 3,158 shares during the period. Finally, Brandywine Oak Private Wealth LLC grew its holdings in AT&T by 23.0% in the third quarter. Brandywine Oak Private Wealth LLC now owns 14,318 shares of the technology company’s stock worth $349,000 after purchasing an additional 2,681 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on T. Barclays decreased their price target on shares of AT&T from $24.00 to $21.00 and set an “equal weight” rating for the company in a research note on Thursday. The Goldman Sachs Group set a $27.00 price objective on shares of AT&T in a research report on Wednesday, October 21st. Argus restated a “buy” rating and issued a $30.00 target price on shares of AT&T in a research note on Thursday, October 22nd. Morgan Stanley decreased their target price on AT&T from $28.00 to $25.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, JPMorgan Chase & Co. dropped their price target on AT&T from $33.00 to $31.00 and set an “overweight” rating on the stock in a research note on Thursday, October 22nd. Twelve analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $28.55.

AT&T Price Performance

Shares of T opened at $20.83 on Tuesday. AT&T Inc. has a 12-month low of $19.89 and a 12-month high of $29.43. The business’s fifty day moving average is $24.76 and its 200 day moving average is $25.04. The company has a quick ratio of 0.82, a current ratio of 0.87 and a debt-to-equity ratio of 1.22. The stock has a market cap of $140.30 billion, a P/E ratio of 11.26, a P/E/G ratio of 1.04 and a beta of 0.25.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, October 21st. The technology company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.05. The business had revenue of $32.32 billion during the quarter, compared to the consensus estimate of $31.69 billion. AT&T had a net margin of 10.19% and a return on equity of 13.41%. AT&T’s revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.54 EPS. Sell-side analysts anticipate that AT&T Inc. will post 2.39 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Monday, October 12th will be paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date of this dividend is Friday, October 9th. AT&T’s dividend payout ratio (DPR) is 60.00%.

About AT&T

AT&T Inc (NYSE: T) is a telecommunications company that provides wireless communications, broadband, and related connectivity services. Its offerings include mobile voice and data plans, internet access, fiber broadband, fixed wireless services, and business communications solutions.

The company serves consumers, businesses, government agencies, and other organizations primarily in the United States. AT&T’s business operations include wireless network services, wireline connectivity, fiber-optic internet, voice services, and networking solutions designed to connect locations, devices, and applications.

AT&T traces its history to the Bell System and has operated under its current corporate name since 2005, following the acquisition of AT&T Corp.