18,118 Shares in AT&T Inc. (NYSE:T) Purchased by Brophy Wealth Management LLC

Brophy Wealth Management LLC purchased a new position in shares of AT&T Inc. (NYSE:T) during the third quarter, HoldingsChannel.com reports. The institutional investor purchased 18,118 shares of the technology company’s stock, valued at approximately $399,000.

Other institutional investors also recently added to or reduced their stakes in the company. Vestcor Inc lifted its position in shares of AT&T by 14.7% during the 3rd quarter. Vestcor Inc now owns 786,772 shares of the technology company’s stock valued at $17,309,000 after acquiring an additional 101,087 shares during the period. Executive Wealth Management LLC raised its holdings in AT&T by 44.3% in the 3rd quarter. Executive Wealth Management LLC now owns 42,397 shares of the technology company’s stock valued at $933,000 after acquiring an additional 13,017 shares during the last quarter. LRI Investments LLC raised its holdings in AT&T by 22.7% in the 3rd quarter. LRI Investments LLC now owns 30,486 shares of the technology company’s stock valued at $678,000 after acquiring an additional 5,646 shares during the last quarter. Geller Advisors LLC raised its holdings in AT&T by 12.2% in the 3rd quarter. Geller Advisors LLC now owns 25,761 shares of the technology company’s stock valued at $567,000 after acquiring an additional 2,797 shares during the last quarter. Finally, Public Employees Retirement System of Ohio grew its stake in shares of AT&T by 1.3% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 3,485,576 shares of the technology company’s stock valued at $76,683,000 after buying an additional 45,142 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 0.7 %

Shares of NYSE:T opened at $23.53 on Wednesday. AT&T Inc. has a 52 week low of $15.94 and a 52 week high of $24.03. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. The company has a market cap of $168.80 billion, a PE ratio of 19.13, a price-to-earnings-growth ratio of 3.63 and a beta of 0.59. The firm has a 50 day simple moving average of $22.39 and a 200 day simple moving average of $20.43.

AT&T (NYSE:T) last released its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The company had revenue of $30.20 billion during 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 revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.64 EPS. As a group, research analysts expect that AT&T Inc. will post 2.19 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were issued 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 4.72%. AT&T’s dividend payout ratio is currently 90.24%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on T. Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. Barclays upped their target price on shares of AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Sanford C. Bernstein assumed coverage on shares of AT&T in a research note on Tuesday. They set an “outperform” rating and a $28.00 price objective on the stock. JPMorgan Chase & Co. upped their target price on shares of AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Finally, Oppenheimer assumed coverage on shares of AT&T in a report on Tuesday. They issued an “outperform” rating and a $28.00 price objective for the company. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $25.00.

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.