Focus Financial Network Inc. Buys 1,362 Shares of AT&T Inc. (NYSE:T)

Focus Financial Network Inc. boosted its stake in AT&T Inc. (NYSE:T) by 7.3% in the 2nd quarter, Holdings Channel reports. The firm owned 19,947 shares of the technology company’s stock after acquiring an additional 1,362 shares during the quarter. Focus Financial Network Inc.’s holdings in AT&T were worth $382,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of T. Frank Rimerman Advisors LLC purchased a new stake in shares of AT&T during the fourth quarter valued at $25,000. Pineridge Advisors LLC bought a new stake in shares of AT&T during the fourth quarter worth $25,000. First Pacific Financial grew its stake in AT&T by 166.7% in the first quarter. First Pacific Financial now owns 1,600 shares of the technology company’s stock worth $28,000 after purchasing an additional 1,000 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its holdings in AT&T by 176.6% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock worth $35,000 after buying an additional 1,192 shares during the period. Finally, Western Pacific Wealth Management LP purchased a new position in shares of AT&T in the 4th quarter worth approximately $39,000. 57.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

T has been the subject of a number of analyst reports. UBS Group reiterated a “buy” rating and issued a $24.00 price objective on shares of AT&T in a research report on Tuesday, June 18th. Evercore ISI raised their price target on AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a research note on Thursday, July 25th. The Goldman Sachs Group initiated coverage on AT&T in a research note on Monday, July 1st. They set a “buy” rating and a $22.00 price target on the stock. Daiwa America raised AT&T to a “hold” rating in a report on Friday, July 26th. Finally, Moffett Nathanson lifted their price objective on AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, AT&T currently has an average rating of “Moderate Buy” and an average target price of $22.06.

AT&T Trading Up 0.1 %

T stock traded up $0.01 during mid-day trading on Wednesday, reaching $19.50. 7,454,323 shares of the stock traded hands, compared to its average volume of 36,005,594. The stock’s fifty day moving average is $18.85 and its 200-day moving average is $17.75. The company has a market cap of $139.82 billion, a P/E ratio of 10.46, a P/E/G ratio of 3.31 and a beta of 0.58. AT&T Inc. has a 52-week low of $14.03 and a 52-week high of $19.99. 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 (NYSE:T) last released its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, meeting the consensus estimate of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The company had revenue of $29.80 billion for the quarter, compared to analysts’ expectations of $30.05 billion. During the same quarter in the previous year, the business posted $0.63 EPS. The business’s revenue for the quarter was down .3% on a year-over-year basis. As a group, sell-side analysts expect that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were paid a $0.2775 dividend. The ex-dividend date was Wednesday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.69%. AT&T’s payout ratio is 59.68%.

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.