Alexander Labrunerie & CO. Inc. Boosts Position in AT&T Inc. (NYSE:T)

Alexander Labrunerie & CO. Inc. boosted its position in shares of AT&T Inc. (NYSE:T) by 35.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 31,629 shares of the technology company’s stock after purchasing an additional 8,196 shares during the quarter. Alexander Labrunerie & CO. Inc.’s holdings in AT&T were worth $696,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of T. Symphony Financial Ltd. Co. lifted its position in shares of AT&T by 4.8% in the third quarter. Symphony Financial Ltd. Co. now owns 106,453 shares of the technology company’s stock valued at $2,342,000 after acquiring an additional 4,858 shares in the last quarter. Waldron Private Wealth LLC lifted its position in shares of AT&T by 7.4% in the third quarter. Waldron Private Wealth LLC now owns 84,184 shares of the technology company’s stock valued at $1,852,000 after acquiring an additional 5,769 shares in the last quarter. Leo Wealth LLC lifted its position in shares of AT&T by 2.1% in the third quarter. Leo Wealth LLC now owns 173,587 shares of the technology company’s stock valued at $3,819,000 after acquiring an additional 3,522 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in shares of AT&T by 45.8% in the third quarter. Sequoia Financial Advisors LLC now owns 247,992 shares of the technology company’s stock valued at $5,456,000 after acquiring an additional 77,849 shares in the last quarter. Finally, Vicus Capital lifted its position in shares of AT&T by 19.9% in the third quarter. Vicus Capital now owns 46,485 shares of the technology company’s stock valued at $1,023,000 after acquiring an additional 7,714 shares in the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

T has been the topic of several recent research reports. Royal Bank of Canada upped their price objective on AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a research report on Thursday, July 25th. Daiwa America upgraded AT&T to a “hold” rating in a research report on Friday, July 26th. Citigroup upped their price objective on AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Scotiabank lowered AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Finally, Redburn Atlantic upgraded AT&T to a “strong sell” rating in a research note on Monday, September 16th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $22.69.

AT&T Price Performance

T stock opened at $21.51 on Wednesday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. AT&T Inc. has a 1 year low of $14.74 and a 1 year high of $22.34. The firm has a market cap of $154.23 billion, a P/E ratio of 12.36, a price-to-earnings-growth ratio of 3.73 and a beta of 0.60. The stock has a 50-day simple moving average of $21.03 and a 200-day simple moving average of $19.04.

AT&T (NYSE:T) last posted its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The business had revenue of $29.80 billion during the quarter, compared to analyst estimates of $30.05 billion. During the same quarter last year, the firm earned $0.63 earnings per share. The company’s revenue for the quarter was down .3% compared to the same quarter last year. On average, equities analysts predict that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 5.16%. The ex-dividend date is Thursday, October 10th. AT&T’s dividend payout ratio is currently 63.79%.

AT&T Company Profile

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.