Independent Advisor Alliance Makes New $4 Million Investment in AT&T Inc. (NYSE:T)

Independent Advisor Alliance acquired a new stake in shares of AT&T Inc. (NYSE:T) during the third quarter, according to its most recent disclosure with the SEC. The fund acquired 181,872 shares of the technology company’s stock, valued at approximately $4,001,000.

A number of other hedge funds also recently made changes to their positions in the stock. 1832 Asset Management L.P. boosted its stake in shares of AT&T by 70.1% in the first quarter. 1832 Asset Management L.P. now owns 2,375 shares of the technology company’s stock worth $42,000 after acquiring an additional 979 shares during the period. Caxton Associates LP boosted its stake in AT&T by 207.6% in the 1st quarter. Caxton Associates LP now owns 51,025 shares of the technology company’s stock worth $898,000 after purchasing an additional 34,437 shares during the period. B. Riley Wealth Advisors Inc. grew its holdings in AT&T by 12.1% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 409,674 shares of the technology company’s stock valued at $7,210,000 after buying an additional 44,189 shares in the last quarter. Tidal Investments LLC lifted its holdings in shares of AT&T by 1.6% in the first quarter. Tidal Investments LLC now owns 537,694 shares of the technology company’s stock worth $9,461,000 after buying an additional 8,271 shares in the last quarter. Finally, Coppell Advisory Solutions Corp. purchased a new position in shares of AT&T in the first quarter worth $295,000. 57.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on T shares. Scotiabank downgraded shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Citigroup boosted their target price on shares of AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a report on Monday, September 16th. Evercore ISI boosted their target price on shares of AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a report on Thursday, October 24th. Finally, Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and an average target price of $23.40.

AT&T Trading Down 0.3 %

T stock opened at $23.10 on Tuesday. 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 Inc. has a twelve month low of $15.94 and a twelve month high of $23.32. The stock has a market capitalization of $165.75 billion, a price-to-earnings ratio of 18.78, a price-to-earnings-growth ratio of 3.48 and a beta of 0.59. The firm’s fifty day simple moving average is $22.04 and its two-hundred day simple moving average is $20.00.

AT&T (NYSE:T) last posted its quarterly earnings data 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. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The business had revenue of $30.20 billion for the quarter, compared to analysts’ expectations of $30.50 billion. During the same quarter in the previous year, the business posted $0.64 earnings per share. The business’s revenue was down .5% compared to the same quarter last year. As a group, analysts anticipate that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.81%. The ex-dividend date was Thursday, October 10th. AT&T’s dividend payout ratio is currently 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.