Nations Financial Group Inc. IA ADV Purchases 662 Shares of AT&T Inc. (NYSE:T)

Nations Financial Group Inc. IA ADV raised its position in AT&T Inc. (NYSE:T) by 1.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 50,033 shares of the technology company’s stock after purchasing an additional 662 shares during the period. Nations Financial Group Inc. IA ADV’s holdings in AT&T were worth $1,101,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of T. Riggs Asset Managment Co. Inc. grew its position in shares of 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 valued at $27,000 after purchasing an additional 1,116 shares during the period. American Capital Advisory LLC lifted its stake in AT&T by 107.5% in the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after buying an additional 807 shares in the last quarter. Reston Wealth Management LLC acquired a new position in shares of AT&T in the third quarter valued at approximately $35,000. Altshuler Shaham Ltd bought a new stake in shares of AT&T during the second quarter worth $30,000. Finally, Marquette Asset Management LLC acquired a new stake in shares of AT&T during the third quarter worth $36,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Performance

Shares of NYSE T opened at $22.15 on Wednesday. AT&T Inc. has a 12 month low of $15.51 and a 12 month high of $22.73. The stock has a 50 day moving average of $21.75 and a 200-day moving average of $19.60. 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 company has a market capitalization of $158.93 billion, a P/E ratio of 18.01, a P/E/G ratio of 3.35 and a beta of 0.59.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 EPS 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 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% on a year-over-year basis. During the same period in the previous year, the company earned $0.64 earnings per share. As a group, equities research analysts predict that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were paid a $0.2775 dividend. The ex-dividend date was Thursday, October 10th. This represents a $1.11 annualized dividend and a yield of 5.01%. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Daiwa America upgraded AT&T to a “hold” rating in a report on Friday, July 26th. Wells Fargo & Company decreased their price objective on AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. JPMorgan Chase & Co. lifted their target price on AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $22.00 price target on shares of AT&T in a research report on Thursday, October 24th. Finally, Moffett Nathanson boosted their price objective on shares of AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. One 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.com, AT&T has a consensus rating of “Moderate Buy” and a consensus price target of $23.40.

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.