AT&T Inc. (NYSE:T) Shares Acquired by Allen Capital Group LLC

Allen Capital Group LLC lifted its position in shares of AT&T Inc. (NYSE:T) by 20.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,643 shares of the technology company’s stock after purchasing an additional 3,549 shares during the period. Allen Capital Group LLC’s holdings in AT&T were worth $454,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in T. Chesapeake Wealth Management increased its holdings in shares of AT&T by 1.9% in the 3rd quarter. Chesapeake Wealth Management now owns 24,304 shares of the technology company’s stock worth $535,000 after acquiring an additional 460 shares during the period. Socha Financial Group LLC increased its holdings in shares of 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 acquiring an additional 461 shares during the period. Essex Savings Bank increased its holdings in shares of AT&T by 2.3% in the 3rd quarter. Essex Savings Bank now owns 21,636 shares of the technology company’s stock worth $476,000 after acquiring an additional 480 shares during the period. Hayek Kallen Investment Management increased its holdings in shares of AT&T by 0.8% in the 3rd quarter. Hayek Kallen Investment Management now owns 60,271 shares of the technology company’s stock worth $1,326,000 after acquiring an additional 500 shares during the period. Finally, Aviance Capital Partners LLC increased its holdings in shares of AT&T by 2.1% in the 3rd quarter. Aviance Capital Partners LLC now owns 24,389 shares of the technology company’s stock worth $537,000 after acquiring an additional 501 shares during the period. 57.10% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Tigress Financial increased their price objective on shares of AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Oppenheimer increased their target price on shares of AT&T from $23.00 to $24.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Citigroup increased their target price 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. Royal Bank of Canada reiterated a “sector perform” rating and issued a $22.00 target price on shares of AT&T in a research report on Thursday, October 24th. Finally, Wells Fargo & Company decreased their target price on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, AT&T currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.40.

AT&T Stock Performance

NYSE:T opened at $23.18 on Friday. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $23.29. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The company has a 50-day moving average of $22.02 and a 200-day moving average of $19.92. The firm has a market cap of $166.29 billion, a price-to-earnings ratio of 18.84, a price-to-earnings-growth ratio of 3.45 and a beta of 0.59.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. 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 EPS. The business’s revenue for the quarter was down .5% on a year-over-year basis. Analysts forecast that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.79%. The ex-dividend date was Thursday, October 10th. AT&T’s payout ratio is 90.24%.

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.