Richard C. Young & CO. LTD. Increases Position in AT&T Inc. (NYSE:T)

Richard C. Young & CO. LTD. raised its holdings in shares of AT&T Inc. (NYSE:T) by 1.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 835,804 shares of the technology company’s stock after buying an additional 15,985 shares during the period. AT&T comprises approximately 2.0% of Richard C. Young & CO. LTD.’s portfolio, making the stock its 16th largest position. Richard C. Young & CO. LTD.’s holdings in AT&T were worth $18,388,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Strategic Financial Concepts LLC raised its stake in AT&T by 227.6% in the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $25,000 after buying an additional 91,578 shares in the last quarter. Riggs Asset Managment Co. Inc. raised its stake in AT&T by 356.5% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after buying an additional 1,116 shares in the last quarter. Ritter Daniher Financial Advisory LLC DE raised its stake in AT&T by 169.2% in the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after buying an additional 841 shares in the last quarter. American Capital Advisory LLC raised 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 worth $30,000 after buying an additional 807 shares in the last quarter. Finally, Altshuler Shaham Ltd bought a new position in AT&T in the second quarter worth about $30,000. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a research note on Monday, September 16th. Daiwa America raised shares of AT&T to a “hold” rating in a research note on Friday, July 26th. TD Cowen raised their target price on shares of AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Tigress Financial raised their target price on shares of AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Finally, Citigroup increased their price target on shares of AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.40.

AT&T Stock Performance

Shares of NYSE:T opened at $22.68 on Monday. AT&T Inc. has a 52 week low of $15.75 and a 52 week high of $22.75. The stock has a market capitalization of $162.74 billion, a P/E ratio of 18.44, a PEG ratio of 3.40 and a beta of 0.59. The firm has a fifty day simple moving average of $21.89 and a two-hundred day simple moving average of $19.75. 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 released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The firm had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. During the same period in the previous year, the company earned $0.64 EPS. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. On average, analysts expect that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Announces Dividend

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 dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.89%. AT&T’s dividend payout ratio 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.