EverSource Wealth Advisors LLC Acquires 6,327 Shares of AT&T Inc. (NYSE:T)

EverSource Wealth Advisors LLC lifted its position in shares of AT&T Inc. (NYSE:T) by 59.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,930 shares of the technology company’s stock after buying an additional 6,327 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in AT&T were worth $286,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of T. Texas Capital Bank Wealth Management Services Inc raised its stake in shares of AT&T by 1.7% in the 4th quarter. Texas Capital Bank Wealth Management Services Inc now owns 35,098 shares of the technology company’s stock valued at $589,000 after purchasing an additional 598 shares in the last quarter. Klingman & Associates LLC raised its stake in shares of AT&T by 3.1% in the 1st quarter. Klingman & Associates LLC now owns 19,889 shares of the technology company’s stock valued at $350,000 after purchasing an additional 603 shares in the last quarter. Fortitude Family Office LLC raised its stake in shares of AT&T by 1.5% in the 1st quarter. Fortitude Family Office LLC now owns 41,595 shares of the technology company’s stock valued at $732,000 after purchasing an additional 614 shares in the last quarter. Connecticut Wealth Management LLC raised its stake in shares of AT&T by 3.0% in the 4th quarter. Connecticut Wealth Management LLC now owns 21,601 shares of the technology company’s stock valued at $362,000 after purchasing an additional 620 shares in the last quarter. Finally, AMG National Trust Bank raised its stake in AT&T by 1.0% during the fourth quarter. AMG National Trust Bank now owns 60,064 shares of the technology company’s stock worth $1,008,000 after acquiring an additional 620 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on T. Deutsche Bank Aktiengesellschaft increased their price objective on shares of AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Daiwa America upgraded shares of AT&T to a “hold” rating in a report on Friday, July 26th. Scotiabank raised their target price on shares of AT&T from $23.00 to $24.00 and gave the stock a “sector outperform” rating in a report on Thursday, July 25th. Evercore ISI upped their price target on shares of AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a research report on Thursday, July 25th. Finally, StockNews.com downgraded shares of AT&T from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $22.33.

AT&T Stock Performance

Shares of NYSE:T traded down $0.10 on Friday, reaching $19.37. 45,240,116 shares of the company’s stock were exchanged, compared to its average volume of 37,305,292. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $138.89 billion, a price-to-earnings ratio of 10.41, a PEG ratio of 3.28 and a beta of 0.58. The company has a fifty day moving average of $18.49 and a 200-day moving average of $17.56. AT&T Inc. has a twelve month low of $13.89 and a twelve month high of $19.99.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.57. The business had revenue of $29.80 billion for the quarter, compared to analyst estimates of $30.05 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The firm’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter last year, the business posted $0.63 EPS. On average, research analysts predict that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 5.73%. The ex-dividend date was Wednesday, July 10th. AT&T’s payout ratio is currently 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.