Bell & Brown Wealth Advisors LLC Grows Holdings in AT&T Inc. (T)
Bell & Brown Wealth Advisors LLC raised its holdings in shares of AT&T Inc. (NYSE:T) by 6.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 40,794 shares of the technology company’s stock after purchasing an additional 2,433 shares during the period. Bell & Brown Wealth Advisors LLC’s holdings in AT&T were worth $1,310,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in the business. CKW Financial Group increased its stake in shares of AT&T by 105.0% in the 2nd quarter. CKW Financial Group now owns 4,215 shares of the technology company’s stock valued at $135,000 after acquiring an additional 2,159 shares during the last quarter. Braun Bostich & Associates Inc. bought a new stake in shares of AT&T in the 1st quarter valued at about $137,000. Elmwood Wealth Management Inc. bought a new stake in shares of AT&T in the 1st quarter valued at about $178,000. Cerebellum GP LLC bought a new stake in shares of AT&T in the 2nd quarter valued at about $178,000. Finally, Bristol John W & Co. Inc. NY bought a new stake in shares of AT&T in the 1st quarter valued at about $201,000. Institutional investors own 64.63% of the company’s stock.
A number of research firms recently issued reports on T. Deutsche Bank increased their target price on AT&T from $35.00 to $37.00 and gave the stock a “hold” rating in a research note on Monday, September 24th. Zacks Investment Research cut AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 25th. Barclays set a $33.00 target price on AT&T and gave the stock a “hold” rating in a research note on Wednesday. UBS Group raised AT&T from a “neutral” rating to a “buy” rating and increased their target price for the stock from $33.00 to $38.00 in a research note on Friday, September 21st. They noted that the move was a valuation call. Finally, ValuEngine raised AT&T from a “strong sell” rating to a “sell” rating in a research note on Wednesday, September 12th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $37.82.
AT&T (NYSE:T) last issued its quarterly earnings results on Tuesday, July 24th. The technology company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.06. The company had revenue of $38.99 billion during the quarter, compared to analysts’ expectations of $38.45 billion. AT&T had a net margin of 20.12% and a return on equity of 13.64%. The business’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period last year, the business earned $0.79 EPS. As a group, sell-side analysts expect that AT&T Inc. will post 3.52 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 1st. Stockholders of record on Wednesday, October 10th will be paid a dividend of $0.50 per share. The ex-dividend date is Tuesday, October 9th. This represents a $2.00 annualized dividend and a dividend yield of 6.20%. AT&T’s dividend payout ratio is currently 65.57%.
In related news, Director Matthew K. Rose acquired 65,500 shares of the business’s stock in a transaction dated Thursday, July 26th. The stock was bought at an average price of $30.51 per share, with a total value of $1,998,405.00. Following the acquisition, the director now owns 81,319 shares in the company, valued at approximately $2,481,042.69. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Piazza Samuel A. Jr. Di acquired 7,690 shares of the business’s stock in a transaction dated Wednesday, August 8th. The stock was bought at an average cost of $32.48 per share, with a total value of $249,771.20. Following the acquisition, the director now owns 31,405 shares in the company, valued at approximately $1,020,034.40. The disclosure for this purchase can be found here. 0.09% of the stock is owned by company insiders.
AT&T Inc provides communications and digital entertainment services. The company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility, and International. The Business Solutions segment offers wireless services, strategic services, legacy voice, data services, wireless equipment, and other services to multinational companies, governmental and wholesale customers, and individual subscribers.
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