Cowa LLC Raises Stock Holdings in AT&T Inc. (NYSE:T)

Cowa LLC boosted its stake in AT&T Inc. (NYSE:T) by 8.5% during the third quarter, HoldingsChannel reports. The firm owned 49,648 shares of the technology company’s stock after buying an additional 3,888 shares during the period. Cowa LLC’s holdings in AT&T were worth $1,092,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Socha Financial Group LLC increased its stake in AT&T by 2.5% in the 3rd quarter. Socha Financial Group LLC now owns 18,847 shares of the technology company’s stock worth $415,000 after buying an additional 461 shares in the last quarter. Hayek Kallen Investment Management raised its stake in AT&T by 0.8% during the 3rd quarter. Hayek Kallen Investment Management now owns 60,271 shares of the technology company’s stock valued at $1,326,000 after purchasing an additional 500 shares during the period. Lake Street Advisors Group LLC boosted its stake in AT&T by 0.7% in the 3rd quarter. Lake Street Advisors Group LLC now owns 73,562 shares of the technology company’s stock worth $1,618,000 after purchasing an additional 513 shares during the period. Spinnaker Trust grew its holdings in AT&T by 0.4% during the 3rd quarter. Spinnaker Trust now owns 124,593 shares of the technology company’s stock valued at $2,741,000 after buying an additional 515 shares in the last quarter. Finally, Octavia Wealth Advisors LLC raised its position in shares of AT&T by 2.1% during the second quarter. Octavia Wealth Advisors LLC now owns 25,313 shares of the technology company’s stock valued at $484,000 after buying an additional 519 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Scotiabank cut shares of AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Oppenheimer lifted their target price on AT&T from $23.00 to $24.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Evercore ISI increased their price target on AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research note on Thursday, October 24th. Moffett Nathanson lifted their price objective on AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Finally, Citigroup increased their target price on AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and an average target price of $23.40.

AT&T Stock Up 1.5 %

Shares of NYSE:T opened at $22.37 on Friday. The firm has a market capitalization of $160.48 billion, a PE ratio of 18.18, a price-to-earnings-growth ratio of 3.35 and a beta of 0.59. The business has a 50 day simple moving average of $21.70 and a two-hundred day simple moving average of $19.52. AT&T Inc. has a 1 year low of $15.46 and a 1 year high of $22.73. 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 (NYSE:T) last posted 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 company had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. During the same quarter in the previous year, the business earned $0.64 EPS. AT&T’s revenue was down .5% compared to the same quarter last year. On average, equities analysts predict that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The business 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 annualized dividend and a yield of 4.96%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s dividend payout ratio is presently 90.24%.

AT&T Company 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.