Reston Wealth Management LLC Purchases New Shares in AT&T Inc. (NYSE:T)

Reston Wealth Management LLC acquired a new position in AT&T Inc. (NYSE:T) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 1,587 shares of the technology company’s stock, valued at approximately $35,000.

Several other large investors have also recently made changes to their positions in T. Strategic Financial Concepts LLC increased its holdings in shares of AT&T by 227.6% during the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $25,000 after buying an additional 91,578 shares during the last quarter. Riggs Asset Managment Co. Inc. raised its stake in shares of AT&T by 356.5% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after acquiring an additional 1,116 shares in the last quarter. American Capital Advisory LLC raised its position in AT&T by 107.5% in the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after purchasing an additional 807 shares in the last quarter. Altshuler Shaham Ltd purchased a new position in AT&T in the second quarter worth approximately $30,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its stake in shares of 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 purchasing an additional 1,192 shares in the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

T has been the topic of several research analyst reports. Hsbc Global Res raised AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. Royal Bank of Canada reissued a “sector perform” rating and set a $22.00 price objective on shares of AT&T in a report on Thursday, October 24th. JPMorgan Chase & Co. upped their target price on shares of AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Wells Fargo & Company dropped their target price on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Finally, Moffett Nathanson boosted their price target on shares of AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $23.40.

AT&T Trading Down 1.9 %

Shares of T stock opened at $22.12 on Friday. The company has a market capitalization of $158.72 billion, a P/E ratio of 17.98, a price-to-earnings-growth ratio of 3.31 and a beta of 0.60. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The business’s 50 day moving average is $21.47 and its two-hundred day moving average is $19.31. AT&T Inc. has a twelve month low of $15.46 and a twelve month high of $22.73.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The company had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. During the same quarter in the prior year, the firm earned $0.64 EPS. AT&T’s quarterly revenue was down .5% on a year-over-year basis. Equities analysts forecast that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were given a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 5.02%. The ex-dividend date was Thursday, October 10th. AT&T’s payout ratio is 90.24%.

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.