AT&T Inc. (NYSE:T) Holdings Boosted by Allworth Financial LP

Allworth Financial LP raised its stake in AT&T Inc. (NYSE:T) by 2.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,412,804 shares of the technology company’s stock after acquiring an additional 28,310 shares during the period. Allworth Financial LP’s holdings in AT&T were worth $31,082,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in T. Riggs Asset Managment Co. Inc. grew its position in AT&T by 356.5% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after purchasing an additional 1,116 shares during the last quarter. American Capital Advisory LLC boosted its position in shares of AT&T by 107.5% during the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after buying an additional 807 shares during the period. Altshuler Shaham Ltd bought a new position in AT&T in the 2nd quarter worth approximately $30,000. Marquette Asset Management LLC acquired a new stake in AT&T in the 3rd quarter valued at approximately $36,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in AT&T by 176.6% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock valued at $35,000 after acquiring an additional 1,192 shares in the last quarter. 57.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on T. Citigroup raised their price target on AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Evercore ISI raised their target price on shares of AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research note on Thursday. Daiwa America upgraded shares of AT&T to a “hold” rating in a research report on Friday, July 26th. Barclays increased their price objective on shares of AT&T from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Wells Fargo & Company dropped 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. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, AT&T has a consensus rating of “Moderate Buy” and a consensus target price of $23.40.

AT&T Stock Down 1.6 %

Shares of AT&T stock opened at $21.84 on Friday. AT&T Inc. has a 12-month low of $14.74 and a 12-month high of $22.58. The firm has a market capitalization of $156.60 billion, a PE ratio of 11.74, a price-to-earnings-growth ratio of 3.67 and a beta of 0.60. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. The stock’s fifty day moving average is $21.20 and its 200-day moving average is $19.12.

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

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 5.08%. The ex-dividend date of this dividend is Thursday, October 10th. AT&T’s dividend payout ratio is 59.68%.

AT&T 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.