Atlanta Consulting Group Advisors LLC Buys Shares of 41,085 AT&T Inc. (NYSE:T)

Atlanta Consulting Group Advisors LLC purchased a new position in AT&T Inc. (NYSE:T) during the third quarter, Holdings Channel.com reports. The fund purchased 41,085 shares of the technology company’s stock, valued at approximately $904,000.

Other institutional investors have also bought and sold shares of the company. Strategic Financial Concepts LLC boosted its position 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 purchasing an additional 91,578 shares during the period. Riggs Asset Managment Co. Inc. boosted its holdings in AT&T by 356.5% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after buying an additional 1,116 shares during the period. American Capital Advisory LLC grew its stake in AT&T by 107.5% in the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after buying an additional 807 shares in the last quarter. Altshuler Shaham Ltd bought a new stake in AT&T during the 2nd quarter valued at $30,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its position in shares of 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 in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Trading Up 1.9 %

T stock opened at $22.68 on Friday. The company has a market capitalization of $162.74 billion, a PE ratio of 18.44, a price-to-earnings-growth ratio of 3.40 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. AT&T Inc. has a one year low of $15.75 and a one year high of $22.75. The company’s 50 day moving average price is $21.89 and its two-hundred day moving average price is $19.73.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The business had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. During the same period in the previous year, the firm posted $0.64 earnings per share. The firm’s revenue for the quarter was down .5% on a year-over-year basis. As a group, analysts predict that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were paid a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.89%. AT&T’s dividend payout ratio (DPR) is currently 90.24%.

Analyst Upgrades and Downgrades

T has been the subject of several recent research reports. Barclays lifted their price target on AT&T from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. TD Cowen raised their price objective on shares of AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Evercore ISI upped their target price on shares of AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a report on Thursday, October 24th. Moffett Nathanson boosted their price target on shares of AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $22.00 price objective on shares of AT&T in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and an average target price of $23.40.

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.