Prospera Financial Services Inc Purchases 57,047 Shares of AT&T Inc. (NYSE:T)

Prospera Financial Services Inc boosted its holdings in AT&T Inc. (NYSE:T - Free Report) by 25.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 281,643 shares of the technology company's stock after acquiring an additional 57,047 shares during the period. Prospera Financial Services Inc's holdings in AT&T were worth $6,197,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in T. Ritter Daniher Financial Advisory LLC DE raised its stake in shares of AT&T by 169.2% during the third 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. increased its stake in 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 valued at $27,000 after purchasing an additional 1,116 shares during the last quarter. American Capital Advisory LLC boosted its holdings in shares of AT&T by 107.5% during the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company's stock valued at $30,000 after acquiring an additional 807 shares during the period. Reston Wealth Management LLC acquired a new position in shares of AT&T during the third quarter valued at $35,000. Finally, Altshuler Shaham Ltd acquired a new position in shares of AT&T during the second quarter valued at $30,000. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Stock Up 0.4 %

Shares of NYSE T traded up $0.10 during mid-day trading on Wednesday, reaching $22.83. 20,419,210 shares of the company's stock were exchanged, compared to its average volume of 35,400,484. The firm has a market capitalization 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 current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The business has a fifty day simple moving average of $21.94 and a 200 day simple moving average of $19.84. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $23.20.

AT&T (NYSE:T - Get Free Report) last announced its earnings results 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. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The business had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. During the same quarter last year, the firm earned $0.64 EPS. AT&T's revenue for the quarter was down .5% compared to the same quarter last year. As a group, equities analysts expect that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.86%. The ex-dividend date was Thursday, October 10th. AT&T's dividend payout ratio (DPR) is 90.24%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of AT&T from $21.00 to $24.00 and gave the company an "overweight" rating in a report on Thursday, July 25th. Evercore ISI boosted their price objective on AT&T from $19.00 to $21.00 and gave the stock an "in-line" rating in a report on Thursday, October 24th. Redburn Atlantic raised AT&T to a "strong sell" rating in a research note on Monday, September 16th. Citigroup boosted their price target on AT&T from $21.00 to $24.00 and gave the company a "buy" rating in a research note on Wednesday, September 11th. Finally, Daiwa America raised AT&T to a "hold" rating in a research note on Friday, July 26th. 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 company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $23.40.

AT&T 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.