Hollow Brook Wealth Management LLC Buys Shares of 9,408 AT&T Inc. (NYSE:T)

Hollow Brook Wealth Management LLC purchased a new position in shares of AT&T Inc. (NYSE:T) during the 3rd quarter, Holdings Channel reports. The institutional investor purchased 9,408 shares of the technology company’s stock, valued at approximately $207,000.

A number of other hedge funds have also recently modified their holdings of the business. Strategic Financial Concepts LLC lifted its position in AT&T by 227.6% during the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after purchasing an additional 91,578 shares in the last quarter. Riggs Asset Managment Co. Inc. lifted its position in shares of AT&T by 356.5% during the 2nd 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 in the last quarter. Ritter Daniher Financial Advisory LLC DE grew its stake in shares of AT&T by 169.2% during the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after acquiring an additional 841 shares during the period. American Capital Advisory LLC increased its holdings in AT&T by 107.5% in the 2nd 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 in the last quarter. Finally, Altshuler Shaham Ltd bought a new stake in AT&T during the 2nd quarter worth approximately $30,000. Institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

T has been the subject of a number of recent analyst reports. Citigroup upped their price target on shares of AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Barclays increased their price target on AT&T from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Scotiabank downgraded AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Royal Bank of Canada reiterated a “sector perform” rating and set a $22.00 target price on shares of AT&T in a research report on Thursday, October 24th. Finally, Oppenheimer boosted their price target on AT&T from $23.00 to $24.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $23.53.

AT&T Stock Performance

AT&T stock opened at $23.13 on Monday. 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 Inc. has a twelve month low of $15.94 and a twelve month high of $23.38. The company’s 50-day moving average price is $22.17 and its 200-day moving average price is $20.17. The company has a market cap of $165.96 billion, a PE ratio of 18.83, a price-to-earnings-growth ratio of 3.48 and a beta of 0.59.

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

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were issued a dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.11 annualized dividend and a yield of 4.80%. AT&T’s payout ratio is 90.24%.

AT&T 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.