Moran Wealth Management LLC Grows Holdings in AT&T Inc. (NYSE:T)

Moran Wealth Management LLC grew its stake in AT&T Inc. (NYSE:T - Free Report) by 9.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 860,569 shares of the technology company's stock after purchasing an additional 77,851 shares during the period. Moran Wealth Management LLC's holdings in AT&T were worth $18,933,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Covestor Ltd raised its position in AT&T by 30.3% in the first quarter. Covestor Ltd now owns 2,678 shares of the technology company's stock valued at $48,000 after purchasing an additional 622 shares during the period. Bessemer Group Inc. lifted its position in AT&T by 72.2% in the first quarter. Bessemer Group Inc. now owns 323,538 shares of the technology company's stock valued at $5,696,000 after buying an additional 135,603 shares during the last quarter. Pitcairn Co. boosted its stake in AT&T by 21.0% during the first quarter. Pitcairn Co. now owns 52,906 shares of the technology company's stock worth $931,000 after buying an additional 9,178 shares during the period. Crewe Advisors LLC acquired a new stake in shares of AT&T during the first quarter valued at about $163,000. Finally, Vident Advisory LLC increased its position in shares of AT&T by 313.3% during the first quarter. Vident Advisory LLC now owns 693,132 shares of the technology company's stock valued at $12,199,000 after acquiring an additional 525,440 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on T. Daiwa America raised shares of AT&T to a "hold" rating in a research note on Friday, July 26th. Scotiabank cut shares of AT&T from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 6th. Barclays upped their price objective on AT&T from $22.00 to $24.00 and gave the stock an "overweight" rating in a research report on Thursday, October 24th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $22.00 target price on shares of AT&T in a report on Thursday, October 24th. Finally, Oppenheimer upped their price target on AT&T from $23.00 to $24.00 and gave the stock an "outperform" rating in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $23.40.

AT&T Price Performance

Shares of T stock traded up $0.10 during mid-day trading on Wednesday, reaching $22.83. The stock had a trading volume of 20,419,210 shares, compared to its average volume of 35,400,484. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $23.20. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The business has a 50-day simple moving average of $21.96 and a 200 day simple moving average of $19.86. The company has a market cap of $163.81 billion, a P/E ratio of 18.56, a price-to-earnings-growth ratio of 3.40 and a beta of 0.59.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.03. The firm had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The company's quarterly revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.64 EPS. On average, sell-side analysts anticipate that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were paid a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.11 annualized dividend and a yield of 4.86%. AT&T's 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.