First Horizon Advisors Inc. Has $21.31 Million Stake in AT&T Inc. (NYSE:T)

First Horizon Advisors Inc. boosted its stake in AT&T Inc. (NYSE:T - Free Report) by 2.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 968,811 shares of the technology company's stock after purchasing an additional 23,399 shares during the quarter. First Horizon Advisors Inc.'s holdings in AT&T were worth $21,314,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Chesapeake Wealth Management grew its position in shares of AT&T by 1.9% during the 3rd quarter. Chesapeake Wealth Management now owns 24,304 shares of the technology company's stock valued at $535,000 after acquiring an additional 460 shares during the period. Socha Financial Group LLC raised its position in shares of AT&T by 2.5% during the 3rd quarter. Socha Financial Group LLC now owns 18,847 shares of the technology company's stock valued at $415,000 after buying an additional 461 shares during the period. Essex Savings Bank raised its position in AT&T by 2.3% in the third quarter. Essex Savings Bank now owns 21,636 shares of the technology company's stock valued at $476,000 after purchasing an additional 480 shares during the period. Hayek Kallen Investment Management grew its stake in shares of AT&T by 0.8% in the third quarter. Hayek Kallen Investment Management now owns 60,271 shares of the technology company's stock worth $1,326,000 after acquiring an additional 500 shares in the last quarter. Finally, Aviance Capital Partners LLC grew its stake in shares of AT&T by 2.1% in the third quarter. Aviance Capital Partners LLC now owns 24,389 shares of the technology company's stock worth $537,000 after acquiring an additional 501 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on T. TD Cowen boosted their target price on shares of AT&T from $21.00 to $23.00 and gave the stock a "hold" rating in a research note on Thursday, July 25th. Tigress Financial lifted their price target on shares of AT&T from $29.00 to $30.00 and gave the company a "buy" rating in a research report on Friday, September 27th. Evercore ISI raised their price objective on shares of AT&T from $19.00 to $21.00 and gave the stock an "in-line" rating in a research note on Thursday, October 24th. Redburn Atlantic upgraded shares of AT&T to a "strong sell" rating in a report on Monday, September 16th. Finally, Daiwa America upgraded shares of AT&T to a "hold" rating in a report on Friday, July 26th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $23.40.

AT&T Price Performance

Shares of NYSE:T traded up $0.10 during trading on Wednesday, reaching $22.83. The company had a trading volume of 20,419,210 shares, compared to its average volume of 35,400,484. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $23.20. The firm has a market capitalization of $163.81 billion, a PE ratio of 18.48, a price-to-earnings-growth ratio of 3.40 and a beta of 0.59. The firm's fifty day moving average is $21.94 and its 200 day moving average is $19.84. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73.

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 for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $30.50 billion. During the same quarter in the prior year, the business earned $0.64 EPS. The company's revenue for the quarter was down .5% compared to the same quarter last year. On average, equities analysts forecast that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.86%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T's dividend payout ratio (DPR) is presently 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.