Avidian Wealth Solutions LLC Has $1 Million Holdings in AT&T Inc. (NYSE:T)

Avidian Wealth Solutions LLC raised its position in AT&T Inc. (NYSE:T) by 7.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 56,887 shares of the technology company’s stock after purchasing an additional 3,883 shares during the quarter. Avidian Wealth Solutions LLC’s holdings in AT&T were worth $1,001,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of T. Cantor Fitzgerald Investment Advisors L.P. acquired a new position in shares of AT&T during the 4th quarter worth about $11,554,000. Provence Wealth Management Group increased its position in shares of AT&T by 55.8% during the 4th quarter. Provence Wealth Management Group now owns 16,217 shares of the technology company’s stock worth $272,000 after purchasing an additional 5,807 shares during the last quarter. Clearbridge Investments LLC raised its stake in shares of AT&T by 250.3% during the 4th quarter. Clearbridge Investments LLC now owns 67,303 shares of the technology company’s stock worth $1,129,000 after purchasing an additional 48,091 shares in the last quarter. Retireful LLC bought a new position in shares of AT&T in the fourth quarter valued at $1,163,000. Finally, Brighton Jones LLC increased its holdings in AT&T by 12.6% during the fourth quarter. Brighton Jones LLC now owns 46,265 shares of the technology company’s stock worth $776,000 after buying an additional 5,161 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors.

AT&T Trading Down 0.3 %

Shares of NYSE:T traded down $0.06 during midday trading on Wednesday, hitting $18.74. 29,826,922 shares of the stock were exchanged, compared to its average volume of 36,449,688. The business’s 50-day moving average price is $17.87 and its 200 day moving average price is $17.29. The stock has a market capitalization of $134.37 billion, a price-to-earnings ratio of 10.06, a P/E/G ratio of 3.55 and a beta of 0.58. AT&T Inc. has a 12 month low of $13.43 and a 12 month high of $19.32. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.63 and a current ratio of 0.68.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. The company had revenue of $30.03 billion for the quarter, compared to analyst estimates of $30.62 billion. AT&T had a net margin of 11.13% and a return on equity of 14.63%. AT&T’s revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.60 earnings per share. Analysts predict that AT&T Inc. will post 2.23 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.92%. The ex-dividend date is Wednesday, July 10th. AT&T’s dividend payout ratio is currently 59.68%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Barclays raised AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price objective for the company in a research report on Monday, April 29th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Scotiabank increased their price objective on shares of AT&T from $22.50 to $23.00 and gave the company a “sector outperform” rating in a research report on Wednesday. UBS Group reaffirmed a “buy” rating and set a $24.00 target price on shares of AT&T in a report on Tuesday, June 18th. Finally, Oppenheimer reissued an “outperform” rating and issued a $21.00 price target on shares of AT&T in a report on Tuesday, June 25th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and an average target price of $21.85.

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.