Wealth Dimensions Group Ltd. Boosts Stock Position in AT&T Inc. (NYSE:T)

Wealth Dimensions Group Ltd. grew its holdings in shares of AT&T Inc. (NYSE:T) by 18.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,501 shares of the technology company’s stock after buying an additional 3,141 shares during the period. Wealth Dimensions Group Ltd.’s holdings in AT&T were worth $392,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. raised its stake in AT&T by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 624,994,998 shares of the technology company’s stock worth $10,999,912,000 after acquiring an additional 2,588,539 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of AT&T by 7.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock valued at $1,549,375,000 after purchasing an additional 5,592,123 shares during the period. Norges Bank purchased a new position in AT&T during the 4th quarter worth approximately $1,118,288,000. LSV Asset Management increased its position in AT&T by 1.1% during the second quarter. LSV Asset Management now owns 30,092,610 shares of the technology company’s stock worth $575,070,000 after buying an additional 315,580 shares during the period. Finally, Thornburg Investment Management Inc. lifted its stake in AT&T by 22.0% in the second quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company’s stock valued at $477,528,000 after buying an additional 4,511,725 shares during the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on T. Evercore ISI raised their target price on shares of AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a research report on Thursday, July 25th. Barclays lifted their price objective on shares of AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Royal Bank of Canada increased their target price on shares of AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 25th. Scotiabank cut AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, Citigroup upped their price objective on AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, AT&T presently has an average rating of “Moderate Buy” and a consensus price target of $22.31.

AT&T Stock Up 0.2 %

Shares of NYSE T opened at $21.64 on Monday. The firm has a 50-day moving average price of $19.59 and a 200 day moving average price of $18.19. AT&T Inc. has a 52 week low of $14.12 and a 52 week high of $21.86. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $155.16 billion, a price-to-earnings ratio of 11.63, a price-to-earnings-growth ratio of 3.68 and a beta of 0.59.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, meeting the consensus estimate of $0.57. The firm had revenue of $29.80 billion during the quarter, compared to the consensus estimate of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. AT&T’s quarterly revenue was down .3% on a year-over-year basis. During the same period last year, the business posted $0.63 EPS. Equities research analysts anticipate that AT&T Inc. will post 2.2 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were given a $0.2775 dividend. The ex-dividend date was Wednesday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.13%. AT&T’s dividend payout ratio is presently 59.68%.

About AT&T

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.