Advisors Management Group Inc. ADV Has $8.73 Million Stock Position in AT&T Inc. (NYSE:T)

Advisors Management Group Inc. ADV lowered its stake in shares of AT&T Inc. (NYSE:T) by 1.0% during the third quarter, Holdings Channel reports. The fund owned 396,746 shares of the technology company’s stock after selling 3,812 shares during the period. AT&T makes up approximately 2.1% of Advisors Management Group Inc. ADV’s holdings, making the stock its 14th biggest holding. Advisors Management Group Inc. ADV’s holdings in AT&T were worth $8,728,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in T. Mercer Global Advisors Inc. ADV lifted its holdings in shares of AT&T by 1,379.0% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 14,159,133 shares of the technology company’s stock valued at $270,581,000 after purchasing an additional 13,201,774 shares in the last quarter. AQR Capital Management LLC raised its holdings in AT&T by 43.3% in the 2nd quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock valued at $414,563,000 after acquiring an additional 6,602,586 shares during the period. Bank of New York Mellon Corp grew its stake in shares of 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 valued at $1,549,375,000 after acquiring an additional 5,592,123 shares in the last quarter. Thornburg Investment Management Inc. lifted its position in shares of AT&T by 22.0% during the 2nd quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company’s stock valued at $477,528,000 after acquiring an additional 4,511,725 shares during the period. Finally, Jupiter Asset Management Ltd. bought a new position in AT&T in the second quarter valued at approximately $78,570,000. Institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on T shares. JPMorgan Chase & Co. increased their price target on AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Scotiabank lowered AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $22.00 target price on shares of AT&T in a research note on Thursday, October 24th. Citigroup increased their target price on shares of AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Finally, Hsbc Global Res raised AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $23.40.

AT&T Trading Up 1.2 %

Shares of T stock opened at $22.32 on Thursday. The business has a 50-day moving average price of $21.61 and a two-hundred day moving average price of $19.46. AT&T Inc. has a 12-month low of $15.46 and a 12-month high of $22.73. The firm has a market cap of $160.15 billion, a P/E ratio of 18.15, a price-to-earnings-growth ratio of 3.29 and a beta of 0.59. 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 (NYSE:T) last issued its quarterly earnings data 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 business had revenue of $30.20 billion for 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 company’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.64 EPS. Equities analysts anticipate that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were given a $0.2775 dividend. The ex-dividend date was Thursday, October 10th. This represents a $1.11 annualized dividend and a yield of 4.97%. AT&T’s dividend payout ratio (DPR) is presently 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.