Secure Asset Management LLC Acquires 6,172 Shares of AT&T Inc. $T

by · The Markets Daily

Secure Asset Management LLC grew its holdings in AT&T Inc. (NYSE:T – Free Report) by 11.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 58,691 shares of the technology company’s stock after acquiring an additional 6,172 shares during the quarter. Secure Asset Management LLC’s holdings in AT&T were worth $1,699,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of T. David J Yvars Group boosted its holdings in shares of AT&T by 2.8% in the 2nd quarter. David J Yvars Group now owns 13,884 shares of the technology company’s stock valued at $402,000 after buying an additional 372 shares during the last quarter. AllSquare Wealth Management LLC raised its stake in AT&T by 7.1% in the 1st quarter. AllSquare Wealth Management LLC now owns 5,704 shares of the technology company’s stock valued at $161,000 after acquiring an additional 378 shares during the period. Next Level Private LLC raised its stake in AT&T by 0.3% in the 1st quarter. Next Level Private LLC now owns 113,379 shares of the technology company’s stock valued at $3,206,000 after acquiring an additional 379 shares during the period. Barnes Wealth Management Group Inc raised its stake in AT&T by 2.6% in the 1st quarter. Barnes Wealth Management Group Inc now owns 15,027 shares of the technology company’s stock valued at $425,000 after acquiring an additional 380 shares during the period. Finally, Carolinas Wealth Consulting LLC raised its stake in AT&T by 1.6% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 24,161 shares of the technology company’s stock valued at $550,000 after acquiring an additional 384 shares during the period. 57.10% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

T has been the topic of a number of research analyst reports. UBS Group set a $32.00 price target on AT&T in a research note on Thursday, September 4th. Bank of America initiated coverage on AT&T in a research report on Monday, July 7th. They set a “buy” rating and a $32.00 price objective on the stock. Sanford C. Bernstein increased their price objective on AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, September 4th. Raymond James Financial reiterated a “strong-buy” rating and set a $31.00 price objective (up previously from $30.00) on shares of AT&T in a research report on Thursday, July 24th. Finally, Citigroup reiterated a “buy” rating on shares of AT&T in a research report on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.60.

Get Our Latest Stock Analysis on T

AT&T Stock Up 0.6%

Shares of NYSE T opened at $29.52 on Thursday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81. AT&T Inc. has a 52 week low of $21.05 and a 52 week high of $29.79. The stock has a market capitalization of $211.08 billion, a P/E ratio of 16.77, a PEG ratio of 3.63 and a beta of 0.44. The stock’s fifty day moving average is $28.38 and its 200 day moving average is $27.78.

AT&T (NYSE:T – Get Free Report) last issued 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 company had revenue of $30.85 billion for the quarter, compared to analysts’ expectations of $30.44 billion. During the same quarter last year, the business earned $0.51 earnings per share. AT&T’s revenue was up 3.4% on a year-over-year basis. Sell-side analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were given a $0.2775 dividend. The ex-dividend date 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 presently 63.07%.

AT&T Profile

(Free Report)

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.

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