EverSource Wealth Advisors LLC Buys 9,446 Shares of AT&T Inc. (NYSE:T)

EverSource Wealth Advisors LLC lifted its stake in shares of AT&T Inc. (NYSE:T) by 55.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 26,376 shares of the technology company’s stock after acquiring an additional 9,446 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in AT&T were worth $508,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in T. Frank Rimerman Advisors LLC bought a new position in shares of AT&T in the fourth quarter worth approximately $25,000. Pineridge Advisors LLC bought a new stake in AT&T during the fourth quarter valued at about $25,000. Strategic Financial Concepts LLC lifted its position in shares of AT&T by 227.6% in the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after acquiring an additional 91,578 shares in the last quarter. Riggs Asset Managment Co. Inc. boosted its stake in 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 worth $27,000 after purchasing an additional 1,116 shares during the period. Finally, American Capital Advisory LLC grew its holdings 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 buying an additional 807 shares in the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Citigroup lifted their price objective on AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Moffett Nathanson upped their price target on shares of AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. boosted their target price on shares of AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. UBS Group restated a “buy” rating and set a $24.00 price objective on shares of AT&T in a research report on Tuesday, June 18th. Finally, Scotiabank cut AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $22.31.

AT&T Stock Down 0.3 %

T stock opened at $21.48 on Tuesday. AT&T Inc. has a 12 month low of $14.12 and a 12 month high of $22.34. The firm has a market capitalization of $154.02 billion, a PE ratio of 11.55, a P/E/G ratio of 3.79 and a beta of 0.59. The company’s 50 day simple moving average is $19.94 and its 200-day simple moving average is $18.38. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66.

AT&T (NYSE:T) last released its earnings results on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, meeting the consensus estimate of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. 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 firm posted $0.63 earnings per share. The business’s quarterly revenue was down .3% compared to the same quarter last year. Equities analysts expect that AT&T Inc. will post 2.2 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were given a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 5.17%. The ex-dividend date of this dividend was Wednesday, July 10th. AT&T’s payout ratio is 59.68%.

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.