AE Wealth Management LLC Buys 273,369 Shares of AT&T Inc. (NYSE:T)

AE Wealth Management LLC increased its stake in shares of AT&T Inc. (NYSE:T) by 17.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,875,722 shares of the technology company’s stock after purchasing an additional 273,369 shares during the quarter. AE Wealth Management LLC’s holdings in AT&T were worth $35,845,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Cantor Fitzgerald Investment Advisors L.P. bought a new position in shares of AT&T during the 4th quarter valued at approximately $11,554,000. Clearbridge Investments LLC grew its position in AT&T by 250.3% in the 4th quarter. Clearbridge Investments LLC now owns 67,303 shares of the technology company’s stock valued at $1,129,000 after acquiring an additional 48,091 shares during the last quarter. Skopos Labs Inc. bought a new position in AT&T in the 4th quarter valued at $839,000. Wealth Enhancement Advisory Services LLC grew its position in AT&T by 4.3% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 1,037,529 shares of the technology company’s stock valued at $19,827,000 after acquiring an additional 43,062 shares during the last quarter. Finally, M&G Plc bought a new position in AT&T in the 1st quarter valued at $9,074,000. Institutional investors own 57.10% of the company’s stock.

AT&T Trading Down 1.7 %

Shares of NYSE T opened at $21.35 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. The stock has a market capitalization of $153.08 billion, a P/E ratio of 11.48, a price-to-earnings-growth ratio of 3.79 and a beta of 0.59. AT&T Inc. has a 1-year low of $14.12 and a 1-year high of $22.34. The business has a fifty day moving average price of $19.82 and a 200 day moving average price of $18.30.

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

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.20%. The ex-dividend date was Wednesday, July 10th. AT&T’s dividend payout ratio (DPR) is currently 59.68%.

Analyst Ratings Changes

Several equities analysts have commented on the company. Oppenheimer upped 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. Evercore ISI upped their price objective 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. Royal Bank of Canada upped their price objective on AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a research report on Thursday, July 25th. TD Cowen upped their price objective on AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Finally, JPMorgan Chase & Co. upped their price objective on AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $22.31.

About AT&T

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.