Abich Financial Wealth Management LLC Has $223,000 Holdings in AT&T Inc. (NYSE:T)

Abich Financial Wealth Management LLC increased its stake in AT&T Inc. (NYSE:T) by 27.5% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 11,678 shares of the technology company’s stock after acquiring an additional 2,517 shares during the period. Abich Financial Wealth Management LLC’s holdings in AT&T were worth $223,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Frank Rimerman Advisors LLC acquired a new position in shares of AT&T in the 4th quarter valued at $25,000. Pineridge Advisors LLC acquired a new position in AT&T in the fourth quarter valued at about $25,000. Strategic Financial Concepts LLC boosted its holdings in AT&T by 227.6% during the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $25,000 after buying an additional 91,578 shares during the last quarter. Riggs Asset Managment Co. Inc. grew its position in shares of AT&T by 356.5% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after buying an additional 1,116 shares during the period. Finally, American Capital Advisory LLC increased 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 acquiring an additional 807 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Performance

T opened at $21.60 on Wednesday. The business’s 50-day simple moving average is $19.99 and its 200 day simple moving average is $18.41. AT&T Inc. has a 52-week low of $14.12 and a 52-week high of $22.34. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. The firm has a market capitalization of $154.88 billion, a PE ratio of 11.61, a PEG ratio of 3.66 and a beta of 0.59.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The company had revenue of $29.80 billion for the quarter, compared to analysts’ expectations of $30.05 billion. During the same quarter in the prior year, the business posted $0.63 EPS. The business’s revenue was down .3% compared to the same quarter last year. As a group, sell-side analysts expect that AT&T Inc. will post 2.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Moffett Nathanson lifted their price objective on shares of AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Barclays increased their price target on AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. UBS Group reiterated a “buy” rating and set a $24.00 price objective on shares of AT&T in a report on Tuesday, June 18th. Daiwa America raised AT&T to a “hold” rating in a research note on Friday, July 26th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, June 28th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, AT&T presently has an average rating of “Hold” and an average price target of $22.31.

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.