AT&T Inc. (NYSE:T) is Ibex Wealth Advisors’ 10th Largest Position

Ibex Wealth Advisors boosted its holdings in shares of AT&T Inc. (NYSE:T) by 25.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 439,774 shares of the technology company’s stock after acquiring an additional 90,451 shares during the period. AT&T accounts for about 2.2% of Ibex Wealth Advisors’ investment portfolio, making the stock its 10th largest holding. Ibex Wealth Advisors’ holdings in AT&T were worth $8,466,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of T. Steward Financial Group LLC raised its holdings in AT&T by 159.7% in the first quarter. Steward Financial Group LLC now owns 1,561 shares of the technology company’s stock worth $30,000 after buying an additional 960 shares during the last quarter. Carmel Capital Partners LLC purchased a new position in AT&T in the first quarter worth about $31,000. Grey Fox Wealth Advisors LLC raised its holdings in AT&T by 41,000.0% in the first quarter. Grey Fox Wealth Advisors LLC now owns 1,644 shares of the technology company’s stock worth $32,000 after buying an additional 1,640 shares during the last quarter. Sageworth Trust Co purchased a new position in AT&T in the first quarter worth about $32,000. Finally, FWL Investment Management LLC purchased a new position in AT&T in the fourth quarter worth about $31,000. 53.65% of the stock is owned by hedge funds and other institutional investors.

AT&T Stock Performance

T opened at $14.40 on Friday. The firm has a market cap of $102.95 billion, a P/E ratio of -11.80, a PEG ratio of 1.79 and a beta of 0.64. AT&T Inc. has a 1-year low of $13.43 and a 1-year high of $20.50. The company has a 50 day simple moving average of $14.58 and a two-hundred day simple moving average of $16.50. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.68 and a quick ratio of 0.63.

AT&T (NYSE:T) last released its earnings results on Wednesday, July 26th. The technology company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.60 by $0.03. AT&T had a negative net margin of 7.22% and a positive return on equity of 15.91%. The firm had revenue of $29.92 billion for the quarter, compared to the consensus estimate of $30.07 billion. During the same quarter in the previous year, the firm earned $0.65 earnings per share. The company’s quarterly revenue was up .9% compared to the same quarter last year. Equities analysts forecast that AT&T Inc. will post 2.43 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th were issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 7.71%. The ex-dividend date was Friday, July 7th. AT&T’s dividend payout ratio (DPR) is presently -90.98%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on T shares. Moffett Nathanson raised shares of AT&T from an “underperform” rating to a “market perform” rating and set a $17.00 target price for the company in a report on Tuesday, June 6th. Wells Fargo & Company reduced their price target on shares of AT&T from $22.00 to $20.00 and set an “overweight” rating for the company in a research note on Thursday, July 20th. Argus lowered shares of AT&T from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Morgan Stanley reiterated an “equal weight” rating and issued a $20.00 price target on shares of AT&T in a research note on Thursday, August 3rd. Finally, StockNews.com assumed coverage on shares of AT&T in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Nine analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AT&T has a consensus rating of “Hold” and a consensus price target of $20.00.

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, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.