Daymark Wealth Partners LLC Buys 6,176 Shares of AT&T Inc. (NYSE:T)

Daymark Wealth Partners LLC boosted its position in shares of AT&T Inc. (NYSE:T) by 29.7% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 26,966 shares of the technology company’s stock after purchasing an additional 6,176 shares during the quarter. Daymark Wealth Partners LLC’s holdings in AT&T were worth $515,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Riggs Asset Managment Co. Inc. lifted its stake in shares of AT&T by 356.5% during the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after acquiring an additional 1,116 shares during the period. Pineridge Advisors LLC bought a new stake in AT&T during the 4th quarter worth about $25,000. Frank Rimerman Advisors LLC acquired a new position in AT&T during the 4th quarter valued at about $25,000. American Capital Advisory LLC lifted its position in AT&T by 107.5% during 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 during the period. Finally, Altshuler Shaham Ltd acquired a new stake in shares of AT&T during the 2nd quarter worth approximately $30,000. 57.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

T has been the topic of several analyst reports. Royal Bank of Canada increased their price objective on shares of AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a report on Thursday, July 25th. Daiwa America raised AT&T to a “hold” rating in a research note on Friday, July 26th. BNP Paribas raised AT&T from an “underperform” rating to a “neutral” rating in a research note on Tuesday, June 11th. JPMorgan Chase & Co. increased their target price on AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Finally, Tigress Financial boosted their target price on AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $22.38.

AT&T Stock Up 1.1 %

AT&T stock opened at $21.90 on Friday. The company has a 50 day moving average of $20.15 and a 200-day moving average of $18.49. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. AT&T Inc. has a twelve month low of $14.12 and a twelve month high of $22.34. The stock has a market capitalization of $156.99 billion, a PE ratio of 11.77, a price-to-earnings-growth ratio of 3.68 and a beta of 0.59.

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

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.