Sound Income Strategies LLC Raises Stock Holdings in AT&T Inc. (NYSE:T)

Sound Income Strategies LLC lifted its position in shares of AT&T Inc. (NYSE:T - Free Report) by 5.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,179,250 shares of the technology company's stock after acquiring an additional 59,778 shares during the period. AT&T accounts for 1.7% of Sound Income Strategies LLC's portfolio, making the stock its 13th biggest holding. Sound Income Strategies LLC's holdings in AT&T were worth $25,943,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Pineridge Advisors LLC bought a new stake in AT&T in the fourth quarter valued at about $25,000. Strategic Financial Concepts LLC boosted its position in AT&T by 227.6% in the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company's stock valued at $25,000 after buying an additional 91,578 shares in the last quarter. Riggs Asset Managment Co. Inc. lifted its holdings in shares of AT&T by 356.5% during the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company's stock worth $27,000 after purchasing an additional 1,116 shares during the period. American Capital Advisory LLC increased its stake in AT&T by 107.5% in the second 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 in the last quarter. Finally, Altshuler Shaham Ltd bought a new stake in shares of AT&T during the second quarter worth about $30,000. Institutional investors own 57.10% of the company's stock.

AT&T Stock Up 0.7 %

Shares of T traded up $0.15 during trading hours on Friday, hitting $21.37. The stock had a trading volume of 25,249,822 shares, compared to its average volume of 32,422,708. AT&T Inc. has a 1-year low of $14.23 and a 1-year high of $22.34. The firm has a market capitalization of $153.23 billion, a P/E ratio of 11.49, a price-to-earnings-growth ratio of 3.62 and a beta of 0.60. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. The firm has a 50 day simple moving average of $20.71 and a 200-day simple moving average of $18.83.

AT&T (NYSE:T - Get Free Report) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, meeting analysts' consensus estimates of $0.57. The business had revenue of $29.80 billion during the quarter, compared to analyst estimates of $30.05 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. AT&T's revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.63 EPS. Sell-side analysts predict that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 5.19%. The ex-dividend date is Thursday, October 10th. AT&T's payout ratio is 59.68%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Barclays increased their price target on shares of AT&T from $20.00 to $22.00 and gave the company an "overweight" rating in a research report on Thursday, July 25th. TD Cowen boosted their price target on shares of AT&T from $21.00 to $23.00 and gave the stock a "hold" rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. upped their price objective on shares of AT&T from $21.00 to $24.00 and gave the stock an "overweight" rating in a research note on Thursday, July 25th. 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 report on Friday, September 27th. Finally, Daiwa America raised shares of AT&T to a "hold" rating in a research note on Friday, July 26th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, AT&T has an average rating of "Moderate Buy" and an average target price of $22.38.

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.