Prestige Wealth Management Group LLC Acquires 1,072 Shares of AT&T Inc. (NYSE:T)

Prestige Wealth Management Group LLC boosted its holdings in shares of AT&T Inc. (NYSE:T) by 2.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,641 shares of the technology company’s stock after acquiring an additional 1,072 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in AT&T were worth $1,026,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in T. Strategic Financial Concepts LLC grew its stake in shares of AT&T by 227.6% in 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 last quarter. Legacy Investment Solutions LLC bought a new stake in shares of AT&T in the 3rd quarter valued at about $25,000. Riggs Asset Managment Co. Inc. increased its stake 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 buying an additional 1,116 shares during the period. Ritter Daniher Financial Advisory LLC DE raised its position in shares of AT&T by 169.2% during the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after acquiring an additional 841 shares during the last quarter. Finally, American Capital Advisory LLC lifted its stake in shares of AT&T by 107.5% in the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after acquiring an additional 807 shares during the period. 57.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Royal Bank of Canada reissued a “sector perform” rating and set a $22.00 target price on shares of AT&T in a research report on Thursday, October 24th. Barclays increased their price objective on shares of AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Redburn Atlantic upgraded shares of AT&T to a “strong sell” rating in a report on Monday, September 16th. Oppenheimer increased their price target on AT&T from $24.00 to $27.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Finally, Moffett Nathanson boosted their price objective on AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $24.73.

AT&T Price Performance

Shares of NYSE:T opened at $23.38 on Tuesday. The stock’s 50 day moving average is $22.39 and its 200-day moving average is $20.43. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $24.03. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $167.76 billion, a price-to-earnings ratio of 19.01, a PEG ratio of 3.63 and a beta of 0.59.

AT&T (NYSE:T) last released 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. The firm had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The business’s quarterly revenue was down .5% compared to the same quarter last year. During the same period last year, the firm earned $0.64 earnings per share. Sell-side analysts forecast that AT&T Inc. will post 2.19 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.75%. The ex-dividend date was Thursday, October 10th. AT&T’s dividend payout ratio (DPR) 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.