Silverlake Wealth Management LLC Acquires 10,445 Shares of AT&T Inc. (NYSE:T)

Silverlake Wealth Management LLC lifted its holdings in AT&T Inc. (NYSE:T – Free Report) by 15.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 77,379 shares of the technology company’s stock after buying an additional 10,445 shares during the quarter. Silverlake Wealth Management LLC’s holdings in AT&T were worth $1,234,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Axiom Financial Strategies LLC increased its stake in shares of AT&T by 12.2% in the 1st quarter. Axiom Financial Strategies LLC now owns 17,888 shares of the technology company’s stock valued at $342,000 after buying an additional 1,941 shares during the period. Roundview Capital LLC increased its position in AT&T by 62.3% in the first quarter. Roundview Capital LLC now owns 24,628 shares of the technology company’s stock worth $582,000 after purchasing an additional 9,450 shares during the period. Sei Investments Co. raised its holdings in AT&T by 23.1% during the 1st quarter. Sei Investments Co. now owns 1,099,843 shares of the technology company’s stock worth $25,983,000 after purchasing an additional 206,434 shares during the last quarter. Candriam Luxembourg S.C.A. lifted its position in AT&T by 5.5% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 476,601 shares of the technology company’s stock valued at $11,262,000 after purchasing an additional 25,028 shares during the period. Finally, Loomis Sayles & Co. L P boosted its stake in shares of AT&T by 1,191.3% in the 1st quarter. Loomis Sayles & Co. L P now owns 12,706 shares of the technology company’s stock valued at $300,000 after purchasing an additional 11,722 shares during the last quarter. Institutional investors and hedge funds own 53.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Morgan Stanley reissued an “equal weight” rating and issued a $20.00 target price on shares of AT&T in a research note on Thursday, August 3rd. Deutsche Bank Aktiengesellschaft cut their price target on shares of AT&T from $23.00 to $22.00 in a research note on Friday, July 14th. StockNews.com assumed coverage on AT&T in a report on Thursday. They set a “hold” rating for the company. Royal Bank of Canada lowered their price objective on shares of AT&T from $19.00 to $14.00 and set a “sector perform” rating on the stock in a report on Thursday, August 10th. Finally, JPMorgan Chase & Co. cut AT&T from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $22.00 to $17.00 in a research report on Friday, July 14th. Nine research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $20.00.

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AT&T Price Performance

NYSE:T opened at $14.45 on Friday. AT&T Inc. has a 52 week low of $13.43 and a 52 week high of $20.50. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.10. The firm’s 50-day simple moving average is $14.56 and its 200 day simple moving average is $16.00.

AT&T (NYSE:T – Get Free Report) last announced 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. The company had revenue of $29.92 billion for the quarter, compared to analysts’ expectations of $30.07 billion. AT&T had a negative net margin of 7.22% and a positive return on equity of 15.91%. The business’s revenue for the quarter was up .9% on a year-over-year basis. During the same period last year, the firm earned $0.65 earnings per share. On average, analysts forecast that AT&T Inc. will post 2.43 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th will be given a dividend of $0.2775 per share. The ex-dividend date is Friday, October 6th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 7.68%. AT&T’s payout ratio is -90.98%.

About AT&T

(Free Report)

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.