Foster & Motley Inc. Boosts Stock Position in AT&T Inc. (NYSE:T)

Foster & Motley Inc. increased its stake in AT&T Inc. (NYSE:T) by 12.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 145,271 shares of the technology company’s stock after buying an additional 15,826 shares during the period. Foster & Motley Inc.’s holdings in AT&T were worth $3,196,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in T. Harvest Portfolios Group Inc. lifted its stake in shares of AT&T by 2.3% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 287,829 shares of the technology company’s stock valued at $6,332,000 after buying an additional 6,393 shares in the last quarter. Radnor Capital Management LLC raised its stake in shares of AT&T by 16.8% during the 3rd quarter. Radnor Capital Management LLC now owns 58,869 shares of the technology company’s stock valued at $1,295,000 after purchasing an additional 8,458 shares during the period. Callahan Advisors LLC lifted its holdings in AT&T by 14.2% during the 3rd quarter. Callahan Advisors LLC now owns 351,925 shares of the technology company’s stock worth $7,742,000 after purchasing an additional 43,766 shares in the last quarter. Catalina Capital Group LLC boosted its stake in AT&T by 17.9% in the 3rd quarter. Catalina Capital Group LLC now owns 23,488 shares of the technology company’s stock worth $517,000 after purchasing an additional 3,570 shares during the period. Finally, Balentine LLC purchased a new position in AT&T during the 3rd quarter valued at about $257,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 1.2 %

Shares of NYSE:T opened at $22.32 on Thursday. The stock’s 50-day moving average is $21.61 and its 200 day moving average is $19.46. The company has a market cap of $160.15 billion, a PE ratio of 18.15, a P/E/G ratio of 3.29 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. AT&T Inc. has a 1 year low of $15.46 and a 1 year high of $22.73.

AT&T (NYSE:T) last posted its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The firm had revenue of $30.20 billion for the quarter, compared to analysts’ expectations of $30.50 billion. During the same period in the previous year, the firm earned $0.64 earnings per share. The business’s revenue was down .5% compared to the same quarter last year. Sell-side analysts anticipate that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were given a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.97%. AT&T’s dividend payout ratio is 90.24%.

Analyst Ratings Changes

A number of equities analysts have recently commented on T shares. Citigroup raised their price objective on shares of AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Evercore ISI upped their target price on AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research note 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. JPMorgan Chase & Co. upped their price objective on AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $22.00 price objective 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 given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, AT&T has a consensus rating of “Moderate Buy” and a consensus target price of $23.40.

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.