Bell & Brown Wealth Advisors LLC Increases Holdings in AT&T Inc. (T)

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Bell & Brown Wealth Advisors LLC raised its holdings in shares of AT&T Inc. (NYSE:T) by 6.3% in the 2nd quarter, Holdings Channel reports. The firm owned 40,794 shares of the technology company’s stock after buying an additional 2,433 shares during the period. Bell & Brown Wealth Advisors LLC’s holdings in AT&T were worth $1,310,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in the business. Guardian Investment Management increased its position in AT&T by 8.4% during the 2nd quarter. Guardian Investment Management now owns 143,209 shares of the technology company’s stock worth $4,598,000 after buying an additional 11,054 shares during the period. Ironsides Asset Advisors LLC increased its position in AT&T by 450.8% during the 2nd quarter. Ironsides Asset Advisors LLC now owns 54,043 shares of the technology company’s stock worth $1,735,000 after buying an additional 44,231 shares during the period. Whittier Trust Co. increased its position in AT&T by 9.5% during the 2nd quarter. Whittier Trust Co. now owns 462,757 shares of the technology company’s stock worth $14,859,000 after buying an additional 40,293 shares during the period. BP PLC increased its position in AT&T by 30.5% during the 2nd quarter. BP PLC now owns 914,826 shares of the technology company’s stock worth $29,375,000 after buying an additional 213,826 shares during the period. Finally, AdvisorNet Financial Inc increased its position in AT&T by 14.1% during the 2nd quarter. AdvisorNet Financial Inc now owns 50,507 shares of the technology company’s stock worth $1,622,000 after buying an additional 6,247 shares during the period. 64.63% of the stock is owned by institutional investors and hedge funds.

In other AT&T news, Director Piazza Samuel A. Jr. Di bought 7,690 shares of the firm’s stock in a transaction on Wednesday, August 8th. The shares were purchased at an average price of $32.48 per share, for a total transaction of $249,771.20. Following the completion of the transaction, the director now directly owns 31,405 shares in the company, valued at approximately $1,020,034.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Matthew K. Rose bought 65,500 shares of the firm’s stock in a transaction on Thursday, July 26th. The stock was acquired at an average price of $30.51 per share, for a total transaction of $1,998,405.00. Following the transaction, the director now owns 81,319 shares of the company’s stock, valued at $2,481,042.69. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by company insiders.

Shares of NYSE T opened at $32.25 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.92. AT&T Inc. has a 52 week low of $30.13 and a 52 week high of $39.33. The firm has a market capitalization of $206.15 billion, a P/E ratio of 10.57, a P/E/G ratio of 2.67 and a beta of 0.39.

AT&T (NYSE:T) last issued its quarterly earnings results on Tuesday, July 24th. The technology company reported $0.91 EPS for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.06. AT&T had a return on equity of 13.64% and a net margin of 20.12%. The company had revenue of $38.99 billion for the quarter, compared to analysts’ expectations of $38.45 billion. During the same quarter last year, the business earned $0.79 earnings per share. AT&T’s revenue was down 2.1% on a year-over-year basis. As a group, equities analysts anticipate that AT&T Inc. will post 3.52 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 1st. Investors of record on Wednesday, October 10th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.20%. The ex-dividend date of this dividend is Tuesday, October 9th. AT&T’s payout ratio is currently 65.57%.

T has been the topic of several recent research reports. Zacks Investment Research cut AT&T from a “buy” rating to a “hold” rating in a research report on Friday, July 20th. Bank of America upgraded AT&T from a “neutral” rating to a “buy” rating and set a $37.00 price objective on the stock in a research report on Monday, July 30th. They noted that the move was a valuation call. Credit Suisse Group initiated coverage on AT&T in a research report on Tuesday, July 10th. They set an “underperform” rating and a $29.00 price objective on the stock. Macquarie reiterated a “buy” rating and set a $35.00 price objective on shares of AT&T in a research report on Wednesday, September 12th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $37.00 price objective on shares of AT&T in a research report on Wednesday, June 27th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $37.82.

AT&T Profile

AT&T Inc provides communications and digital entertainment services. The company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility, and International. The Business Solutions segment offers wireless services, strategic services, legacy voice, data services, wireless equipment, and other services to multinational companies, governmental and wholesale customers, and individual subscribers.

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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