KCS Wealth Advisory Makes New Investment in AT&T Inc. (NYSE:T)

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KCS Wealth Advisory purchased a new position in shares of AT&T Inc. (NYSE:T) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 12,931 shares of the technology company’s stock, valued at approximately $433,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Horan Securities Inc. increased its holdings in shares of AT&T by 439.2% in the second quarter. Horan Securities Inc. now owns 1,019 shares of the technology company’s stock valued at $34,000 after purchasing an additional 830 shares during the period. NuWave Investment Management LLC acquired a new position in shares of AT&T in the fourth quarter valued at approximately $40,000. Contravisory Investment Management Inc. increased its holdings in shares of AT&T by 36.0% in the second quarter. Contravisory Investment Management Inc. now owns 1,277 shares of the technology company’s stock valued at $43,000 after purchasing an additional 338 shares during the period. Smart Portfolios LLC increased its holdings in shares of AT&T by 44.8% in the fourth quarter. Smart Portfolios LLC now owns 1,615 shares of the technology company’s stock valued at $46,000 after purchasing an additional 500 shares during the period. Finally, Centaurus Financial Inc. increased its holdings in shares of AT&T by 24.4% in the first quarter. Centaurus Financial Inc. now owns 1,700 shares of the technology company’s stock valued at $54,000 after purchasing an additional 333 shares during the period. 53.05% of the stock is currently owned by institutional investors.

T traded up $0.35 during trading on Tuesday, reaching $34.83. 464,712 shares of the stock were exchanged, compared to its average volume of 33,241,594. The stock’s 50 day moving average price is $33.66. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a market capitalization of $252.38 billion, a P/E ratio of 9.91, a price-to-earnings-growth ratio of 2.16 and a beta of 0.62. AT&T Inc. has a 1 year low of $26.80 and a 1 year high of $34.64.

AT&T (NYSE:T) last posted its earnings results on Wednesday, July 24th. The technology company reported $0.89 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.89. The company had revenue of $44.96 billion for the quarter, compared to the consensus estimate of $44.97 billion. AT&T had a return on equity of 13.38% and a net margin of 9.47%. AT&T’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.91 earnings per share. Equities research analysts anticipate that AT&T Inc. will post 3.57 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were given a dividend of $0.51 per share. The ex-dividend date was Tuesday, July 9th. This represents a $2.04 dividend on an annualized basis and a yield of 5.86%. AT&T’s payout ratio is 57.95%.

In other AT&T news, CEO John T. Stankey sold 4,024 shares of the business’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $34.15, for a total transaction of $137,419.60. Following the sale, the chief executive officer now directly owns 2,366 shares in the company, valued at $80,798.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.07% of the stock is currently owned by insiders.

T has been the topic of a number of recent research reports. Desjardins reissued an “average” rating and issued a $55.50 target price on shares of AT&T in a report on Tuesday, August 6th. Morgan Stanley reissued a “buy” rating and issued a $37.00 target price on shares of AT&T in a report on Thursday, August 1st. Cowen upped their price objective on AT&T from $34.00 to $40.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Bank of America reaffirmed a “buy” rating and set a $37.00 price objective on shares of AT&T in a report on Monday, June 24th. Finally, ValuEngine lowered AT&T from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company. AT&T has an average rating of “Buy” and an average price target of $36.72.

AT&T Profile

AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.

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

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