Beese Fulmer Investment Management Inc. Has $1.60 Million Position in AT&T Inc. (NYSE:T)

Beese Fulmer Investment Management Inc. reduced its holdings in shares of AT&T Inc. (NYSE:T) by 2.9% in the third quarter, HoldingsChannel.com reports. The fund owned 72,780 shares of the technology company’s stock after selling 2,143 shares during the quarter. Beese Fulmer Investment Management Inc.’s holdings in AT&T were worth $1,601,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Hayek Kallen Investment Management boosted its position in shares of AT&T by 0.8% during the 3rd quarter. Hayek Kallen Investment Management now owns 60,271 shares of the technology company’s stock worth $1,326,000 after purchasing an additional 500 shares in the last quarter. Octavia Wealth Advisors LLC boosted its position in shares of AT&T by 2.1% during the 2nd quarter. Octavia Wealth Advisors LLC now owns 25,313 shares of the technology company’s stock worth $484,000 after purchasing an additional 519 shares in the last quarter. Carolinas Wealth Consulting LLC boosted its position in shares of AT&T by 2.3% during the 2nd quarter. Carolinas Wealth Consulting LLC now owns 23,650 shares of the technology company’s stock worth $452,000 after purchasing an additional 521 shares in the last quarter. WealthCare Investment Partners LLC boosted its position in shares of AT&T by 2.2% during the 2nd quarter. WealthCare Investment Partners LLC now owns 24,138 shares of the technology company’s stock worth $461,000 after purchasing an additional 525 shares in the last quarter. Finally, Little House Capital LLC boosted its position in shares of AT&T by 4.8% during the 3rd quarter. Little House Capital LLC now owns 11,619 shares of the technology company’s stock worth $256,000 after purchasing an additional 537 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on T shares. Evercore ISI raised their price target on shares of AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a research report on Thursday, July 25th. Wells Fargo & Company raised their price target on shares of AT&T from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. Oppenheimer increased their price objective on shares of AT&T from $21.00 to $23.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, Moffett Nathanson increased their price objective on shares of AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, AT&T currently has a consensus rating of “Moderate Buy” and an average price target of $23.07.

AT&T Trading Up 4.6 %

Shares of T stock opened at $22.49 on Thursday. AT&T Inc. has a 1 year low of $14.74 and a 1 year high of $22.58. The company’s fifty day simple moving average is $21.09 and its two-hundred day simple moving average is $19.06. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. The stock has a market capitalization of $161.26 billion, a price-to-earnings ratio of 12.93, a PEG ratio of 3.73 and a beta of 0.60.

AT&T (NYSE:T) last posted its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The business had revenue of $30.20 billion during the quarter, compared to analyst estimates of $30.50 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The company’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.64 EPS. As a group, analysts anticipate that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be given a dividend of $0.2775 per share. The ex-dividend date is Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.94%. AT&T’s dividend payout ratio (DPR) is currently 63.79%.

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.