New Wave Wealth Advisors LLC Takes $763,000 Position in AT&T Inc. (NYSE:T)

New Wave Wealth Advisors LLC acquired a new position in AT&T Inc. (NYSE:T) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 39,931 shares of the technology company’s stock, valued at approximately $763,000.

Other institutional investors have also recently bought and sold shares of the company. Frank Rimerman Advisors LLC purchased a new position in AT&T in the fourth quarter valued at approximately $25,000. Pineridge Advisors LLC bought a new position in shares of AT&T during the 4th quarter worth $25,000. Strategic Financial Concepts LLC increased its holdings in AT&T by 227.6% in the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $25,000 after acquiring an additional 91,578 shares during the last quarter. Riggs Asset Managment Co. Inc. raised its stake in AT&T by 356.5% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after acquiring an additional 1,116 shares during the period. Finally, American Capital Advisory LLC boosted its position in AT&T by 107.5% during the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after purchasing an additional 807 shares during the period. Institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

T has been the topic of a number of recent research reports. The Goldman Sachs Group assumed coverage on shares of AT&T in a research note on Monday, July 1st. They set a “buy” rating and a $22.00 price target on the stock. Moffett Nathanson increased their target price on AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Evercore ISI lifted their price target on AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a research report on Thursday, July 25th. Citigroup increased their price objective on AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Finally, BNP Paribas raised AT&T from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 11th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, AT&T presently has a consensus rating of “Hold” and a consensus target price of $22.38.

AT&T Stock Up 0.4 %

Shares of NYSE:T opened at $21.99 on Tuesday. The stock has a market capitalization of $157.64 billion, a P/E ratio of 11.82, a price-to-earnings-growth ratio of 3.68 and a beta of 0.59. The stock’s 50-day moving average price is $20.21 and its 200-day moving average price is $18.54. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. AT&T Inc. has a 12-month low of $14.12 and a 12-month high of $22.34.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, meeting the consensus estimate of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The firm had revenue of $29.80 billion during the quarter, compared to the consensus estimate of $30.05 billion. During the same quarter in the previous year, the company posted $0.63 earnings per share. The business’s revenue was down .3% on a year-over-year basis. On average, equities analysts anticipate that AT&T Inc. will post 2.2 earnings per share for the current year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 5.05%. The ex-dividend date is Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

AT&T Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.