UP Strategic Wealth Investment Advisors LLC Makes New $218,000 Investment in AT&T Inc. (NYSE:T)

UP Strategic Wealth Investment Advisors LLC purchased a new stake in AT&T Inc. (NYSE:T) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 11,427 shares of the technology company’s stock, valued at approximately $218,000.

Other hedge funds also recently made changes to their positions in the company. Riggs Asset Managment Co. Inc. raised its position in AT&T by 356.5% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after purchasing an additional 1,116 shares in the last quarter. Pineridge Advisors LLC acquired a new position in shares of AT&T in the 4th quarter worth approximately $25,000. Frank Rimerman Advisors LLC bought a new position in shares of AT&T during the 4th quarter worth approximately $25,000. American Capital Advisory LLC boosted its stake in AT&T by 107.5% in the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after buying an additional 807 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its position in AT&T by 176.6% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock valued at $35,000 after acquiring an additional 1,192 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Citigroup boosted their price target on shares of AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Evercore ISI raised their price objective on shares of AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a report on Thursday, July 25th. Royal Bank of Canada boosted their target price on AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a report on Thursday, July 25th. Finally, Oppenheimer lifted their price objective on AT&T from $21.00 to $23.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, AT&T presently has an average rating of “Hold” and a consensus target price of $22.31.

AT&T Price Performance

Shares of T opened at $21.74 on Thursday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. AT&T Inc. has a 52-week low of $14.12 and a 52-week high of $22.34. The stock has a 50 day simple moving average of $19.78 and a 200 day simple moving average of $18.28. The firm has a market capitalization of $155.84 billion, a PE ratio of 11.69, a P/E/G ratio of 3.68 and a beta of 0.59.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, hitting analysts’ consensus estimates of $0.57. The business had revenue of $29.80 billion for the quarter, compared to analyst estimates of $30.05 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The firm’s quarterly revenue was down .3% on a year-over-year basis. During the same period last year, the business posted $0.63 earnings per share. Sell-side analysts predict that AT&T Inc. will post 2.2 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were issued a dividend of $0.2775 per share. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.11%. AT&T’s payout ratio 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.