9,352 Shares in AT&T Inc. (NYSE:T) Purchased by TrinityPoint Wealth LLC

TrinityPoint Wealth LLC purchased a new stake in shares of AT&T Inc. (NYSE:T) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 9,352 shares of the technology company’s stock, valued at approximately $206,000.

Other institutional investors have also added to or reduced their stakes in the company. Covestor Ltd increased its position in AT&T by 30.3% in the first quarter. Covestor Ltd now owns 2,678 shares of the technology company’s stock worth $48,000 after purchasing an additional 622 shares during the last quarter. Bahl & Gaynor Inc. grew its stake in shares of AT&T by 13.5% in the 1st quarter. Bahl & Gaynor Inc. now owns 40,623 shares of the technology company’s stock worth $715,000 after buying an additional 4,841 shares in the last quarter. Bessemer Group Inc. increased its holdings in shares of AT&T by 72.2% in the 1st quarter. Bessemer Group Inc. now owns 323,538 shares of the technology company’s stock worth $5,696,000 after buying an additional 135,603 shares during the last quarter. Lake Street Advisors Group LLC raised its position in shares of AT&T by 40.8% during the 1st quarter. Lake Street Advisors Group LLC now owns 75,861 shares of the technology company’s stock valued at $1,335,000 after buying an additional 22,001 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of AT&T by 10,357.3% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,811,000 shares of the technology company’s stock valued at $31,874,000 after acquiring an additional 1,793,682 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 1.4 %

Shares of NYSE:T opened at $22.99 on Tuesday. The business’s 50 day moving average is $21.92 and its 200 day moving average is $19.79. The stock has a market cap of $164.96 billion, a P/E ratio of 18.69, a price-to-earnings-growth ratio of 3.40 and a beta of 0.59. AT&T Inc. has a 52-week low of $15.85 and a 52-week high of $23.20. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The business had revenue of $30.20 billion for the quarter, compared to the consensus estimate 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 was down .5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.64 EPS. Sell-side analysts predict that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were issued a $0.2775 dividend. The ex-dividend date was Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.83%. AT&T’s dividend payout ratio is currently 90.24%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on T shares. Moffett Nathanson boosted their price objective on AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Daiwa America raised AT&T to a “hold” rating in a research report on Friday, July 26th. Hsbc Global Res upgraded AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. Barclays boosted their price objective on shares of AT&T from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Finally, 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 report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.