Vestcor Inc grew its stake in AT&T Inc. (NYSE:T – Free Report) by 14.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 786,772 shares of the technology company’s stock after purchasing an additional 101,087 shares during the period. Vestcor Inc’s holdings in AT&T were worth $17,309,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also modified their holdings of the company. Diversified Trust Co grew its stake in AT&T by 1.8% during the second quarter. Diversified Trust Co now owns 149,972 shares of the technology company’s stock worth $2,866,000 after buying an additional 2,723 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in AT&T by 4.3% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 1,037,529 shares of the technology company’s stock worth $19,827,000 after acquiring an additional 43,062 shares during the last quarter. ORG Partners LLC grew its position in AT&T by 779.5% during the 2nd quarter. ORG Partners LLC now owns 19,121 shares of the technology company’s stock worth $363,000 after acquiring an additional 16,947 shares during the last quarter. GPS Wealth Strategies Group LLC increased its holdings in AT&T by 11.5% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 9,640 shares of the technology company’s stock valued at $184,000 after purchasing an additional 996 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its position in AT&T by 1.9% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 438,329 shares of the technology company’s stock valued at $8,376,000 after purchasing an additional 8,370 shares during the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
T has been the topic of several research analyst reports. Wells Fargo & Company decreased their target price on 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 shares of AT&T from $24.00 to $27.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Evercore ISI boosted their target price 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. JPMorgan Chase & Co. upped their target price on shares of AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $22.00 price target on shares of AT&T in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $24.73.
AT&T Stock Down 2.1 %
NYSE:T opened at $23.38 on Tuesday. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $24.03. The stock’s fifty day simple moving average is $22.39 and its 200-day simple moving average is $20.43. The firm has a market capitalization of $167.76 billion, a P/E ratio of 19.01, a P/E/G ratio of 3.63 and a beta of 0.59.
AT&T (NYSE:T – Get Free Report) last released its earnings results 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. The firm had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The company’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.64 earnings per share. Equities research analysts expect that AT&T Inc. will post 2.19 earnings per share for the current year.
AT&T Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 4.75%. The ex-dividend date of this dividend 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.
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