Financial Perspectives Inc Purchases 1,057 Shares of AT&T Inc. (NYSE:T)

Financial Perspectives Inc grew its position in shares of AT&T Inc. (NYSE:T) by 5.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 18,827 shares of the technology company’s stock after acquiring an additional 1,057 shares during the period. Financial Perspectives Inc’s holdings in AT&T were worth $360,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Octavia Wealth Advisors LLC raised its holdings in AT&T by 2.1% in the second quarter. Octavia Wealth Advisors LLC now owns 25,313 shares of the technology company’s stock worth $484,000 after purchasing an additional 519 shares in the last quarter. WealthCare Investment Partners LLC lifted its position in AT&T by 2.2% during the second quarter. WealthCare Investment Partners LLC now owns 24,138 shares of the technology company’s stock valued at $461,000 after acquiring an additional 525 shares during the last quarter. Integral Investment Advisors Inc. boosted its stake in AT&T by 3.2% in the second quarter. Integral Investment Advisors Inc. now owns 17,177 shares of the technology company’s stock valued at $322,000 after acquiring an additional 538 shares in the last quarter. Financial Counselors Inc. grew its holdings in AT&T by 0.6% in the second quarter. Financial Counselors Inc. now owns 92,450 shares of the technology company’s stock worth $1,767,000 after purchasing an additional 539 shares during the last quarter. Finally, Fortitude Family Office LLC grew its holdings in AT&T by 1.3% in the second quarter. Fortitude Family Office LLC now owns 42,154 shares of the technology company’s stock worth $806,000 after purchasing an additional 559 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Trading Up 0.2 %

Shares of NYSE:T opened at $21.64 on Monday. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. AT&T Inc. has a 12-month low of $14.12 and a 12-month high of $21.86. The business has a 50 day moving average of $19.59 and a two-hundred day moving average of $18.19. The company has a market capitalization of $155.16 billion, a PE ratio of 11.63, a PEG ratio of 3.68 and a beta of 0.59.

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

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were paid a $0.2775 dividend. The ex-dividend date of this dividend 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%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on T. The Goldman Sachs Group started coverage on AT&T in a research report on Monday, July 1st. They issued a “buy” rating and a $22.00 price objective for the company. Oppenheimer boosted their price target on AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Moffett Nathanson upped their price objective on shares of AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. JPMorgan Chase & Co. lifted their target price on shares of AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Finally, BNP Paribas upgraded shares of AT&T from an “underperform” rating to a “neutral” rating in a research note on Tuesday, June 11th. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $22.31.

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.