AT&T Inc. (NYSE:T) Shares Acquired by Truvestments Capital LLC

Truvestments Capital LLC increased its position in shares of AT&T Inc. (NYSE:T) by 14.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 14,454 shares of the technology company’s stock after acquiring an additional 1,878 shares during the quarter. Truvestments Capital LLC’s holdings in AT&T were worth $318,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Mercer Global Advisors Inc. ADV lifted its stake in shares of AT&T by 1,379.0% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 14,159,133 shares of the technology company’s stock valued at $270,581,000 after purchasing an additional 13,201,774 shares during the last quarter. AQR Capital Management LLC lifted its position in AT&T by 43.3% in the second quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock valued at $414,563,000 after buying an additional 6,602,586 shares during the last quarter. Bank of New York Mellon Corp lifted its position in AT&T by 7.4% in the second quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock valued at $1,549,375,000 after buying an additional 5,592,123 shares during the last quarter. Thornburg Investment Management Inc. boosted its stake in AT&T by 22.0% during the second quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company’s stock worth $477,528,000 after buying an additional 4,511,725 shares during the period. Finally, Jupiter Asset Management Ltd. acquired a new stake in shares of AT&T during the second quarter valued at about $78,570,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

T has been the topic of several recent analyst reports. Evercore ISI upped their price objective 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. Scotiabank cut AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Redburn Atlantic raised AT&T to a “strong sell” rating in a research note on Monday, September 16th. Wells Fargo & Company cut their price objective on AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $22.00 target price 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 assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, AT&T presently has an average rating of “Moderate Buy” and an average target price of $23.40.

AT&T Stock Down 0.3 %

T stock opened at $23.10 on Tuesday. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $23.32. The company’s 50 day moving average price is $22.04 and its 200 day moving average price is $20.00. 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 firm has a market capitalization of $165.75 billion, a price-to-earnings ratio of 18.78, a PEG ratio of 3.48 and a beta of 0.59.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The company had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The company’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.64 EPS. On average, equities research analysts anticipate that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.81%. The ex-dividend date was Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is 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.