Sculati Wealth Management LLC Purchases 12,772 Shares of AT&T Inc. (NYSE:T)

Sculati Wealth Management LLC raised its position in shares of AT&T Inc. (NYSE:T) by 38.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 45,581 shares of the technology company’s stock after acquiring an additional 12,772 shares during the quarter. Sculati Wealth Management LLC’s holdings in AT&T were worth $1,003,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. ORG Partners LLC boosted its holdings in shares of AT&T by 779.5% during the 2nd quarter. ORG Partners LLC now owns 19,121 shares of the technology company’s stock worth $363,000 after buying an additional 16,947 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in shares of AT&T by 1.9% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 438,329 shares of the technology company’s stock valued at $8,376,000 after purchasing an additional 8,370 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its position in shares of AT&T by 176.6% during the 2nd 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. Silver Lake Advisory LLC acquired a new stake in shares of AT&T in the 2nd quarter valued at about $349,000. Finally, Triad Wealth Partners LLC bought a new stake in AT&T in the 2nd quarter valued at about $223,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Down 0.1 %

T stock opened at $23.48 on Thursday. The stock has a market cap of $168.48 billion, a P/E ratio of 19.09, a P/E/G ratio of 3.63 and a beta of 0.59. 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 stock’s fifty day simple moving average is $22.44 and its two-hundred day simple moving average is $20.49. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $24.03.

AT&T (NYSE:T) last released its earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The company had revenue of $30.20 billion for the quarter, compared to analysts’ expectations of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The business’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.64 EPS. Analysts expect that AT&T Inc. will post 2.19 EPS for the current year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.73%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s dividend payout ratio is currently 90.24%.

Wall Street Analyst Weigh In

T has been the topic of several recent research reports. Wells Fargo & Company cut their price target on AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Barclays lifted their price target on shares of AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Redburn Atlantic upgraded shares of AT&T to a “strong sell” rating in a report on Monday, September 16th. The Goldman Sachs Group lifted their price objective on shares of AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Finally, Citigroup upped their target price on shares of AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $25.00.

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.