Ariadne Wealth Management LP Invests $465,000 in AT&T Inc. (NYSE:T)

Ariadne Wealth Management LP bought a new position in shares of AT&T Inc. (NYSE:T) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 24,322 shares of the technology company’s stock, valued at approximately $465,000.

Several other institutional investors and hedge funds have also recently modified their holdings of T. Frank Rimerman Advisors LLC acquired a new stake in shares of AT&T in the fourth quarter valued at approximately $25,000. Pineridge Advisors LLC purchased a new stake in AT&T in the 4th quarter valued at about $25,000. Strategic Financial Concepts LLC grew 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 valued at $25,000 after buying an additional 91,578 shares during the period. Riggs Asset Managment Co. Inc. lifted its stake in shares of 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 purchasing an additional 1,116 shares in the last quarter. Finally, American Capital Advisory LLC lifted its stake in shares of 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 purchasing an additional 807 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analysts Set New Price Targets

T has been the topic of several analyst reports. Moffett Nathanson lifted their price objective on AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. TD Cowen upped their price objective on AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Tigress Financial upped their price target on AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Friday. The Goldman Sachs Group began coverage on AT&T in a research report on Monday, July 1st. They issued a “buy” rating and a $22.00 target price on the stock. Finally, Royal Bank of Canada upped their target price on AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $22.38.

AT&T Price Performance

Shares of T opened at $21.99 on Tuesday. AT&T Inc. has a 1 year low of $14.12 and a 1 year high of $22.34. 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 company has a market capitalization of $157.64 billion, a price-to-earnings ratio of 11.82, a price-to-earnings-growth ratio of 3.68 and a beta of 0.59. The business has a 50-day moving average of $20.21 and a 200-day moving average of $18.54.

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

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be given a $0.2775 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.11 annualized dividend and a yield of 5.05%. AT&T’s dividend payout ratio is currently 59.68%.

AT&T Company 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.