Pure Financial Advisors LLC Grows Position in AT&T Inc. (NYSE:T)

Pure Financial Advisors LLC raised its holdings in shares of AT&T Inc. (NYSE:T) by 11.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 20,463 shares of the technology company’s stock after acquiring an additional 2,148 shares during the quarter. Pure Financial Advisors LLC’s holdings in AT&T were worth $450,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Jennison Associates LLC increased its position in shares of AT&T by 620.3% during the first quarter. Jennison Associates LLC now owns 3,919,092 shares of the technology company’s stock valued at $68,976,000 after buying an additional 3,375,009 shares during the period. Salomon & Ludwin LLC increased its position in shares of AT&T by 28.2% in the first quarter. Salomon & Ludwin LLC now owns 15,478 shares of the technology company’s stock worth $272,000 after purchasing an additional 3,403 shares during the last quarter. Central Pacific Bank Trust Division bought a new position in shares of AT&T in the first quarter worth approximately $165,000. BI Asset Management Fondsmaeglerselskab A S increased its position in shares of AT&T by 51.3% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 198,102 shares of the technology company’s stock worth $3,487,000 after purchasing an additional 67,142 shares during the last quarter. Finally, Rehmann Capital Advisory Group increased its position in shares of AT&T by 10.3% in the first quarter. Rehmann Capital Advisory Group now owns 44,267 shares of the technology company’s stock worth $779,000 after purchasing an additional 4,121 shares during the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on T shares. TD Cowen upped their price objective on shares of AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. upped their price objective on shares of AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. 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 research report on Thursday, October 24th. Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. Finally, Redburn Atlantic upgraded shares of AT&T to a “strong sell” rating in a research report on Monday, September 16th. One analyst has rated the stock with a sell rating, eight have given 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 has an average rating of “Moderate Buy” and an average target price of $23.40.

AT&T Stock Performance

NYSE:T opened at $22.12 on Monday. The firm has a market cap of $158.72 billion, a PE ratio of 17.98, a price-to-earnings-growth ratio of 3.38 and a beta of 0.59. AT&T Inc. has a fifty-two week low of $15.46 and a fifty-two week high of $22.73. 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 business has a 50 day moving average price of $21.47 and a 200-day moving average price of $19.36.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping 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 company had revenue of $30.20 billion during the quarter, compared to analyst estimates of $30.50 billion. During the same quarter last year, the firm posted $0.64 earnings per share. The firm’s revenue was down .5% on a year-over-year basis. Equities research analysts predict that AT&T Inc. will post 2.22 earnings per share for the current 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 paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 5.02%. The ex-dividend date of this dividend was Thursday, October 10th. 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.