AT&T Inc. (NYSE:T) Stock Position Increased by Vestcor Inc

Vestcor Inc increased its position in shares of AT&T Inc. (NYSE:T - Free Report) by 14.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 786,772 shares of the technology company's stock after acquiring an additional 101,087 shares during the quarter. Vestcor Inc's holdings in AT&T were worth $17,309,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Diversified Trust Co increased its position in AT&T by 1.8% during the second quarter. Diversified Trust Co now owns 149,972 shares of the technology company's stock worth $2,866,000 after purchasing an additional 2,723 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in AT&T by 4.3% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 1,037,529 shares of the technology company's stock valued at $19,827,000 after acquiring an additional 43,062 shares during the last quarter. ORG Partners LLC grew its position in AT&T by 779.5% during the second quarter. ORG Partners LLC now owns 19,121 shares of the technology company's stock valued at $363,000 after acquiring an additional 16,947 shares during the period. GPS Wealth Strategies Group LLC grew its position in AT&T by 11.5% during the second quarter. GPS Wealth Strategies Group LLC now owns 9,640 shares of the technology company's stock valued at $184,000 after acquiring an additional 996 shares during the period. Finally, Envestnet Portfolio Solutions Inc. increased its stake in AT&T by 1.9% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 438,329 shares of the technology company's stock worth $8,376,000 after acquiring an additional 8,370 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on T shares. New Street Research upgraded AT&T from a "neutral" rating to a "buy" rating in a report on Tuesday, December 3rd. Royal Bank of Canada reiterated a "sector perform" rating and set a $22.00 price objective on shares of AT&T in a research note on Thursday, October 24th. Oppenheimer began coverage on shares of AT&T in a research note on Tuesday. They issued an "outperform" rating and a $28.00 target price on the stock. Hsbc Global Res upgraded shares of AT&T to a "strong-buy" rating in a report on Tuesday, October 1st. Finally, Redburn Atlantic upgraded AT&T to a "strong sell" rating in a report on Monday, September 16th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, AT&T currently has an average rating of "Moderate Buy" and a consensus price target of $25.00.

AT&T Stock Performance

Shares of AT&T stock traded up $0.15 during trading hours on Tuesday, reaching $23.53. The company's stock had a trading volume of 32,848,408 shares, compared to its average volume of 35,571,637. AT&T Inc. has a one year low of $15.94 and a one year high of $24.03. The company's 50 day simple moving average is $22.39 and its 200 day simple moving average is $20.43. 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 stock has a market cap of $168.80 billion, a P/E ratio of 19.11, a price-to-earnings-growth ratio of 3.63 and a beta of 0.59.

AT&T (NYSE:T - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.57 by $0.03. The business had revenue of $30.20 billion during the quarter, compared to analyst estimates of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The business's revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.64 EPS. As a group, analysts expect that AT&T Inc. will post 2.19 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were given a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.72%. The ex-dividend date was Thursday, October 10th. AT&T's dividend payout ratio is currently 90.24%.

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.