Pinnacle Wealth Management Advisory Group LLC Increases Stock Position in AT&T Inc. (NYSE:T)

Pinnacle Wealth Management Advisory Group LLC increased its position in shares of AT&T Inc. (NYSE:T) by 11.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,854 shares of the technology company’s stock after buying an additional 2,449 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in AT&T were worth $687,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of T. Newton One Investments LLC purchased a new position in AT&T during the second quarter valued at $27,000. IronBridge Private Wealth LLC acquired a new stake in shares of AT&T in the first quarter valued at about $30,000. Interactive Financial Advisors raised its position in shares of AT&T by 65.8% in the first quarter. Interactive Financial Advisors now owns 1,101 shares of the technology company’s stock valued at $33,000 after buying an additional 437 shares during the last quarter. Cypress Point Wealth Management LLC raised its position in shares of AT&T by 4,411.8% in the second quarter. Cypress Point Wealth Management LLC now owns 1,534 shares of the technology company’s stock valued at $44,000 after buying an additional 1,500 shares during the last quarter. Finally, Roble Belko & Company Inc raised its position in shares of AT&T by 21.7% in the first quarter. Roble Belko & Company Inc now owns 1,824 shares of the technology company’s stock valued at $55,000 after buying an additional 325 shares during the last quarter. 51.61% of the stock is currently owned by institutional investors and hedge funds.

NYSE T opened at $27.33 on Wednesday. The firm has a 50 day simple moving average of $27.86 and a 200-day simple moving average of $29.23. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.73 and a current ratio of 0.77. AT&T Inc. has a one year low of $26.35 and a one year high of $33.88. The firm has a market cap of $195.14 billion, a price-to-earnings ratio of -88.16, a PEG ratio of 2.11 and a beta of 0.78.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, July 21st. The technology company reported $0.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.10. AT&T had a negative net margin of 1.11% and a positive return on equity of 12.78%. The business had revenue of $44.05 billion during the quarter, compared to analyst estimates of $42.39 billion. During the same quarter last year, the firm posted $0.83 earnings per share. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. Equities analysts predict that AT&T Inc. will post 3.33 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 2nd. Stockholders of record on Friday, July 9th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 7.61%. The ex-dividend date was Thursday, July 8th. AT&T’s payout ratio is 65.41%.

A number of equities research analysts have recently commented on the stock. Morgan Stanley cut shares of AT&T to an “equal weight” rating and set a $29.00 target price for the company. in a research report on Friday, July 16th. New Street Research upgraded shares of AT&T from a “neutral” rating to a “buy” rating and set a $35.00 target price for the company in a research report on Friday, May 21st. UBS Group upgraded shares of AT&T from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $32.00 to $35.00 in a research report on Friday, May 21st. Royal Bank of Canada started coverage on shares of AT&T in a research report on Thursday, July 22nd. They set a “hold” rating and a $30.00 price objective for the company. Finally, Citigroup cut their price objective on shares of AT&T from $34.00 to $32.00 and set a “buy” rating for the company in a research report on Tuesday, August 31st. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $31.16.

AT&T Company Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications media and technology service. It operates through the following segments: Communications, WarnerMedia, and Latin America. The Communications segment provides services to businesses and consumers located in the U.S., or in U.S.

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

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