Delta Financial Advisors LLC raised its stake in shares of AT&T Inc. (NYSE:T – Free Report) by 27.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 30,609 shares of the technology company’s stock after acquiring an additional 6,681 shares during the period. Delta Financial Advisors LLC’s holdings in AT&T were worth $673,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in T. Strategic Financial Concepts LLC boosted its holdings in AT&T by 227.6% during the second 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 in the last quarter. Riggs Asset Managment Co. Inc. lifted its position 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 increased its position in AT&T by 107.5% during the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after purchasing an additional 807 shares in the last quarter. Altshuler Shaham Ltd acquired a new position in shares of AT&T in the second quarter valued at approximately $30,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its position in 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 acquiring an additional 1,192 shares during the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities analysts recently commented on T shares. Redburn Atlantic upgraded AT&T to a “strong sell” rating in a research note on Monday, September 16th. Daiwa America raised shares of AT&T to a “hold” rating in a research note on Friday, July 26th. Evercore ISI raised their target price on shares of AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research report on Thursday, October 24th. Citigroup upped their price target on shares of AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Finally, Scotiabank lowered shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, AT&T has an average rating of “Moderate Buy” and a consensus target price of $23.40.
AT&T Price Performance
Shares of T stock opened at $22.34 on Monday. The firm has a market cap of $160.30 billion, a P/E ratio of 18.16, a P/E/G ratio of 3.35 and a beta of 0.59. The firm has a fifty day moving average of $21.70 and a two-hundred day moving average of $19.56. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. AT&T Inc. has a 1-year low of $15.46 and a 1-year high of $22.73.
AT&T (NYSE:T – Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.03. The firm 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%. AT&T’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.64 earnings per share. As a group, research analysts anticipate that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.
AT&T Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.97%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s dividend payout ratio is presently 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.
See Also
- Five stocks we like better than AT&T
- How to Use the MarketBeat Stock Screener
- 3 Under-the-Radar Healthcare Companies
- Insider Selling Explained: Can it Inform Your Investing Choices?
- Globalstar: The Next Big Satellite Winner After Deal With Apple?
- What does consumer price index measure?
- Archer Aviation: Taking Off in Tokyo and Beyond?
Want to see what other hedge funds are holding T? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AT&T Inc. (NYSE:T – Free Report).
Receive News & Ratings for AT&T Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AT&T and related companies with MarketBeat.com's FREE daily email newsletter.