Elios Financial Group Inc. Takes Position in AT&T Inc. (NYSE:T)

Elios Financial Group Inc. purchased a new position in AT&T Inc. (NYSE:T) in the 3rd quarter, HoldingsChannel.com reports. The firm purchased 23,587 shares of the technology company’s stock, valued at approximately $519,000.

A number of other large investors also recently bought and sold shares of the business. Bank of New York Mellon Corp boosted its holdings in AT&T by 7.4% in the second quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock worth $1,549,375,000 after acquiring an additional 5,592,123 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of AT&T by 2.7% in the second quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company’s stock worth $1,148,689,000 after buying an additional 1,569,374 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in shares of AT&T by 2.0% in the second quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock worth $985,307,000 after buying an additional 1,007,228 shares in the last quarter. LSV Asset Management increased its position in shares of AT&T by 1.1% during the second quarter. LSV Asset Management now owns 30,092,610 shares of the technology company’s stock valued at $575,070,000 after acquiring an additional 315,580 shares in the last quarter. Finally, Pacer Advisors Inc. raised its holdings in AT&T by 2.5% in the 2nd quarter. Pacer Advisors Inc. now owns 28,113,880 shares of the technology company’s stock worth $537,256,000 after acquiring an additional 675,082 shares during the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on T shares. Barclays lifted their target price on AT&T from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Moffett Nathanson boosted their target price on AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Scotiabank cut shares of AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Evercore ISI lifted their price target on shares of AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research note on Thursday, October 24th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $22.00 price objective on shares of AT&T 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 assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.40.

AT&T Price Performance

T stock opened at $23.10 on Tuesday. 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 company’s fifty day moving average price is $22.04 and its 200-day moving average price is $20.00. AT&T Inc. has a one year low of $15.94 and a one year high of $23.32. The company has a market capitalization of $165.75 billion, a PE ratio of 18.78, a price-to-earnings-growth ratio of 3.48 and a beta of 0.59.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.57 by $0.03. The business had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The business’s revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.64 EPS. On average, equities analysts anticipate that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders 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 4.81%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s payout ratio is 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.