Vinva Investment Management Ltd grew its holdings in AT&T Inc. (NYSE:T – Free Report) by 4.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 330,387 shares of the technology company’s stock after buying an additional 13,026 shares during the quarter. Vinva Investment Management Ltd’s holdings in AT&T were worth $7,235,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in T. Chesapeake Wealth Management grew its holdings in AT&T by 1.9% in the third quarter. Chesapeake Wealth Management now owns 24,304 shares of the technology company’s stock worth $535,000 after purchasing an additional 460 shares during the period. Socha Financial Group LLC raised its stake in AT&T by 2.5% during the 3rd quarter. Socha Financial Group LLC now owns 18,847 shares of the technology company’s stock valued at $415,000 after buying an additional 461 shares during the last quarter. Essex Savings Bank lifted its holdings in AT&T by 2.3% in the third quarter. Essex Savings Bank now owns 21,636 shares of the technology company’s stock valued at $476,000 after acquiring an additional 480 shares during the period. Hayek Kallen Investment Management lifted its stake in shares of AT&T by 0.8% in the 3rd quarter. Hayek Kallen Investment Management now owns 60,271 shares of the technology company’s stock worth $1,326,000 after purchasing an additional 500 shares during the period. Finally, Aviance Capital Partners LLC raised its position in AT&T by 2.1% in the third quarter. Aviance Capital Partners LLC now owns 24,389 shares of the technology company’s stock worth $537,000 after acquiring an additional 501 shares during the period. Institutional investors own 57.10% of the company’s stock.
Analysts Set New Price Targets
Several brokerages recently weighed in on T. Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a report on Monday, September 16th. Tigress Financial upped their target price on AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Scotiabank lowered shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Evercore ISI increased 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. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $22.00 price target on shares of AT&T in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $23.53.
AT&T Trading Up 0.8 %
NYSE:T opened at $23.27 on Thursday. The stock has a fifty day moving average price of $22.10 and a two-hundred day moving average price of $20.07. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. The stock has a market capitalization of $166.97 billion, a price-to-earnings ratio of 18.92, a PEG ratio of 3.47 and a beta of 0.59. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $23.38.
AT&T (NYSE:T – Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $30.50 billion. During the same quarter in the previous year, the business posted $0.64 earnings per share. The company’s revenue was down .5% on a year-over-year basis. As a group, sell-side analysts anticipate that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.
AT&T Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were paid a $0.2775 dividend. The ex-dividend date was Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.77%. AT&T’s dividend payout ratio (DPR) is currently 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.
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