11,460 Shares in AT&T Inc. (NYSE:T) Acquired by Pure Portfolios Holdings LLC

Pure Portfolios Holdings LLC purchased a new position in shares of AT&T Inc. (NYSE:T) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 11,460 shares of the technology company’s stock, valued at approximately $252,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Strategic Financial Concepts LLC boosted its stake in shares of AT&T by 227.6% during the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $25,000 after buying an additional 91,578 shares during the period. Riggs Asset Managment Co. Inc. raised its stake in 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 acquiring an additional 1,116 shares during the last quarter. American Capital Advisory LLC lifted its position in AT&T by 107.5% during 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 during the period. Altshuler Shaham Ltd purchased a new position in shares of AT&T in the 2nd quarter valued at approximately $30,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its holdings in shares of AT&T by 176.6% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock valued at $35,000 after purchasing an additional 1,192 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

AT&T stock opened at $21.85 on Friday. The firm has a market capitalization of $156.67 billion, a PE ratio of 11.75, a P/E/G ratio of 3.63 and a beta of 0.60. AT&T Inc. has a 52 week low of $14.74 and a 52 week high of $22.34. The firm’s 50-day simple moving average is $20.95 and its 200 day simple moving average is $18.97. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.57. The company had revenue of $29.80 billion for the quarter, compared to the consensus estimate of $30.05 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The company’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.63 earnings per share. On average, equities research analysts predict that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 5.08%. The ex-dividend date of this dividend is Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

Wall Street Analysts Forecast Growth

T has been the subject of several recent research reports. Redburn Atlantic raised AT&T to a “strong sell” rating in a report on Monday, September 16th. Barclays raised their target price on shares of AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Tigress Financial lifted their target price on shares of AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a report on Friday, September 27th. Deutsche Bank Aktiengesellschaft increased their price target on shares of AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Finally, Oppenheimer lifted their price objective on AT&T from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $22.69.

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.