Encompass More Asset Management Acquires Shares of 10,206 AT&T Inc. (NYSE:T)

Encompass More Asset Management bought a new position in AT&T Inc. (NYSE:T) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 10,206 shares of the technology company’s stock, valued at approximately $225,000.

A number of other large investors have also made changes to their positions in the company. Acropolis Investment Management LLC boosted its position in shares of AT&T by 77.1% in the third quarter. Acropolis Investment Management LLC now owns 22,881 shares of the technology company’s stock worth $503,000 after buying an additional 9,961 shares during the period. L.M. Kohn & Company lifted its stake in AT&T by 47.8% in the 3rd quarter. L.M. Kohn & Company now owns 28,693 shares of the technology company’s stock worth $631,000 after acquiring an additional 9,278 shares in the last quarter. Point72 Europe London LLP boosted its position in AT&T by 275.8% during the 3rd quarter. Point72 Europe London LLP now owns 654,974 shares of the technology company’s stock worth $14,409,000 after acquiring an additional 480,674 shares during the period. Icon Wealth Advisors LLC grew its stake in AT&T by 20.1% during the 3rd quarter. Icon Wealth Advisors LLC now owns 61,330 shares of the technology company’s stock valued at $1,349,000 after acquiring an additional 10,281 shares in the last quarter. Finally, Suvretta Capital Management LLC increased its holdings in shares of AT&T by 4.5% in the 3rd quarter. Suvretta Capital Management LLC now owns 2,285,336 shares of the technology company’s stock valued at $50,277,000 after purchasing an additional 98,450 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Price Performance

Shares of AT&T stock opened at $23.16 on Friday. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $23.38. The firm has a fifty day simple moving average of $22.17 and a 200-day simple moving average of $20.15. 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 stock has a market capitalization of $166.18 billion, a price-to-earnings ratio of 18.83, a PEG ratio of 3.48 and a beta of 0.59.

AT&T (NYSE:T) last released its quarterly earnings results 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. The company had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The business’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.64 earnings per share. On average, sell-side analysts expect that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Dividend Announcement

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

Wall Street Analyst Weigh In

T has been the topic of a number of research analyst reports. Tigress Financial boosted their price objective on shares of AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Wells Fargo & Company lowered their price target on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Oppenheimer increased their price objective on AT&T from $23.00 to $24.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Scotiabank downgraded AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Finally, Citigroup raised their price target on AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday. One equities 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 issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $23.53.

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.