AT&T Inc. (NYSE:T) Stock Holdings Lifted by Arkadios Wealth Advisors

Arkadios Wealth Advisors lifted its stake in shares of AT&T Inc. (NYSE:T) by 1.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 71,192 shares of the technology company’s stock after acquiring an additional 1,294 shares during the quarter. Arkadios Wealth Advisors’ holdings in AT&T were worth $1,566,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Riggs Asset Managment Co. Inc. lifted 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 acquiring an additional 1,116 shares in the last quarter. American Capital Advisory LLC raised its stake in AT&T by 107.5% during the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after purchasing an additional 807 shares during the period. Altshuler Shaham Ltd acquired a new stake in shares of AT&T in the second quarter worth $30,000. Marquette Asset Management LLC purchased a new position in shares of AT&T during the third quarter valued at $36,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its holdings in shares of AT&T by 176.6% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock valued at $35,000 after buying an additional 1,192 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on T. Citigroup raised their price objective on AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a research report on Monday, September 16th. Tigress Financial upped their price objective 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. Barclays lifted their target price on shares of AT&T from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Wells Fargo & Company dropped their price target on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday. One investment analyst has rated the stock with a sell rating, eight have given 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, AT&T has an average rating of “Moderate Buy” and an average price target of $23.40.

AT&T Stock Performance

T opened at $21.83 on Monday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. The company has a market cap of $156.52 billion, a PE ratio of 11.74, a price-to-earnings-growth ratio of 3.67 and a beta of 0.60. The stock has a 50-day moving average of $21.20 and a 200-day moving average of $19.15. AT&T Inc. has a 52-week low of $14.74 and a 52-week high of $22.58.

AT&T (NYSE:T) last announced 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. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The firm had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. During the same quarter in the prior year, the business earned $0.64 earnings per share. The company’s revenue was down .5% on a year-over-year basis. As a group, equities research analysts forecast that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be paid a $0.2775 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 5.08%. AT&T’s payout ratio is presently 59.68%.

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.