49 Wealth Management LLC Has $775,000 Stock Holdings in AT&T Inc. $T

49 Wealth Management LLC lifted its position in shares of AT&T Inc. (NYSE:T) by 12.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,768 shares of the technology company’s stock after acquiring an additional 3,038 shares during the quarter. 49 Wealth Management LLC’s holdings in AT&T were worth $775,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in T. Stone House Investment Management LLC acquired a new stake in AT&T during the 1st quarter worth $25,000. O Brien Wealth Partners LLC acquired a new stake in shares of AT&T during the second quarter worth $26,000. Hager Investment Management Services LLC grew its stake in shares of AT&T by 182.1% during the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock worth $28,000 after purchasing an additional 641 shares during the period. Kennebec Savings Bank increased its holdings in AT&T by 412.1% in the second quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock valued at $28,000 after purchasing an additional 783 shares during the last quarter. Finally, Solstein Capital LLC increased its holdings in AT&T by 217.3% in the second quarter. Solstein Capital LLC now owns 952 shares of the technology company’s stock valued at $28,000 after purchasing an additional 652 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Up 0.3%

Shares of T opened at $24.81 on Monday. The firm has a fifty day moving average price of $27.14 and a 200-day moving average price of $27.63. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 1.01. The firm 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 Inc. has a 12-month low of $21.38 and a 12-month high of $29.79.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, October 22nd. The technology company reported $0.54 EPS for the quarter, hitting the consensus estimate of $0.54. The company had revenue of $30.71 billion for the quarter, compared to the consensus estimate of $30.85 billion. AT&T had a return on equity of 12.72% and a net margin of 17.87%.AT&T’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period last year, the business posted $0.60 EPS. Equities research analysts expect that AT&T Inc. will post 2.14 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Friday, October 10th were issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.5%. The ex-dividend date was Friday, October 10th. AT&T’s dividend payout ratio is currently 36.04%.

Analysts Set New Price Targets

Several equities research analysts have commented on T shares. Barclays lowered their target price on shares of AT&T from $30.00 to $28.00 and set an “equal weight” rating for the company in a research note on Thursday, October 23rd. JPMorgan Chase & Co. upped their price objective on shares of AT&T from $31.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. Sanford C. Bernstein raised their price objective on AT&T from $31.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, September 4th. Wall Street Zen lowered AT&T from a “buy” rating to a “hold” rating in a report on Saturday. Finally, TD Cowen increased their price target on AT&T from $32.00 to $33.00 and gave the stock a “hold” rating in a report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, AT&T currently has an average rating of “Moderate Buy” and an average price target of $30.67.

About AT&T

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.