Vestor Capital LLC lifted its stake in shares of AT&T Inc. (NYSE:T – Free Report) by 1,799.1% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 329,697 shares of the technology company’s stock after buying an additional 312,336 shares during the quarter. Vestor Capital LLC’s holdings in AT&T were worth $8,045,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the stock. Parr Mcknight Wealth Management Group LLC bought a new stake in AT&T in the 1st quarter valued at $2,901,000. Sound Income Strategies LLC grew its holdings in AT&T by 19.8% in the 3rd quarter. Sound Income Strategies LLC now owns 754,818 shares of the technology company’s stock valued at $18,772,000 after buying an additional 124,997 shares in the last quarter. B.A. Schrock Wealth Management Inc. acquired a new position in AT&T in the 3rd quarter valued at $1,583,000. Orographic Financial Advisors LLC bought a new position in AT&T during the 1st quarter worth $3,449,000. Finally, Quintet Private Bank Europe S.A. increased its position in AT&T by 44.1% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 2,451,253 shares of the technology company’s stock worth $59,811,000 after buying an additional 750,364 shares during the period. Institutional investors own 57.10% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on T shares. The Goldman Sachs Group set a $27.00 target price on AT&T in a report on Wednesday, October 21st. Raymond James Financial decreased their price target on shares of AT&T from $33.00 to $29.00 in a research note on Thursday, October 22nd. Barclays lowered their price target on shares of AT&T from $24.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 22nd. Sanford C. Bernstein cut shares of AT&T from an “outperform” rating to a “market perform” rating and set a $24.00 price objective for the company. in a research note on Tuesday, October 13th. Finally, Citigroup dropped their price objective on shares of AT&T from $31.50 to $28.00 and set a “buy” rating for the company in a research note on Thursday, July 23rd. Twelve investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $27.56.
View Our Latest Stock Report on T
AT&T Trading Up 0.6%
Shares of T stock opened at $21.76 on Tuesday. The stock has a market cap of $146.60 billion, a P/E ratio of 11.76, a price-to-earnings-growth ratio of 1.08 and a beta of 0.30. AT&T Inc. has a 1 year low of $19.89 and a 1 year high of $29.43. The company has a current ratio of 0.87, a quick ratio of 0.82 and a debt-to-equity ratio of 1.22. The stock has a 50 day simple moving average of $23.88 and a 200 day simple moving average of $24.91.
AT&T (NYSE:T – Get Free Report) last posted its quarterly earnings data on Wednesday, October 21st. The technology company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.05. AT&T had a return on equity of 13.41% and a net margin of 10.19%. The firm had revenue of $32.32 billion for the quarter, compared to analyst estimates of $31.69 billion. During the same quarter last year, the company earned $0.54 EPS. The company’s revenue was up 5.2% on a year-over-year basis. On average, research analysts predict that AT&T Inc. will post 2.39 earnings per share for the current fiscal year.
AT&T Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, November 2nd. Investors of record on Monday, October 12th were given a $0.2775 dividend. The ex-dividend date was Friday, October 9th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.1%. AT&T’s dividend payout ratio (DPR) is presently 60.00%.
AT&T Company Profile
AT&T Inc (NYSE: T) is a telecommunications company that provides wireless communications, broadband, and related connectivity services. Its offerings include mobile voice and data plans, internet access, fiber broadband, fixed wireless services, and business communications solutions.
The company serves consumers, businesses, government agencies, and other organizations primarily in the United States. AT&T’s business operations include wireless network services, wireline connectivity, fiber-optic internet, voice services, and networking solutions designed to connect locations, devices, and applications.
AT&T traces its history to the Bell System and has operated under its current corporate name since 2005, following the acquisition of AT&T Corp.
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