Premier Fund Managers Ltd Invests $7.49 Million in AT&T Inc. (NYSE:T)

Premier Fund Managers Ltd bought a new stake in AT&T Inc. (NYSE:T - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 342,000 shares of the technology company's stock, valued at approximately $7,488,000.

Other institutional investors have also made changes to their positions in the company. Ritter Daniher Financial Advisory LLC DE lifted its stake in shares of AT&T by 169.2% in the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company's stock valued at $29,000 after purchasing an additional 841 shares during the period. Riggs Asset Managment Co. Inc. lifted its stake in AT&T by 356.5% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company's stock valued at $27,000 after buying an additional 1,116 shares during the period. American Capital Advisory LLC boosted its holdings in AT&T by 107.5% during the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company's stock worth $30,000 after buying an additional 807 shares during the last quarter. Reston Wealth Management LLC acquired a new position in shares of AT&T during the 3rd quarter worth about $35,000. Finally, Altshuler Shaham Ltd bought a new stake in shares of AT&T in the 2nd quarter valued at about $30,000. 57.10% of the stock is owned by institutional investors.

Analyst Ratings Changes

T has been the subject of several research analyst reports. JPMorgan Chase & Co. boosted their price objective on AT&T from $21.00 to $24.00 and gave the company an "overweight" rating in a research report on Thursday, July 25th. Scotiabank cut shares of AT&T from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 6th. Citigroup upped their target price on shares of AT&T from $21.00 to $24.00 and gave the stock a "buy" rating in a research note on Wednesday, September 11th. Daiwa America upgraded AT&T to a "hold" rating in a report on Friday, July 26th. Finally, Redburn Atlantic upgraded AT&T to a "strong sell" rating in a report on Monday, September 16th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $23.40.

AT&T Price Performance

Shares of AT&T stock traded up $0.10 during midday trading on Wednesday, hitting $22.83. 4,949,170 shares of the company traded hands, compared to its average volume of 35,331,738. The stock has a market cap of $163.81 billion, a price-to-earnings ratio of 18.48, a PEG ratio of 3.40 and a beta of 0.59. 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 firm's fifty day moving average price is $21.94 and its 200-day moving average price is $19.84. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $23.20.

AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating analysts' consensus estimates of $0.57 by $0.03. The company had revenue of $30.20 billion during the quarter, compared to analysts' expectations of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. AT&T's revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.64 EPS. As a group, sell-side analysts forecast that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

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