Prospera Private Wealth LLC Has $4.09 Million Stock Position in AT&T Inc. (NYSE:T)

Prospera Private Wealth LLC increased its holdings in shares of AT&T Inc. (NYSE:T - Free Report) by 49.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 185,887 shares of the technology company's stock after buying an additional 61,743 shares during the quarter. Prospera Private Wealth LLC's holdings in AT&T were worth $4,090,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its holdings in shares of AT&T by 7.4% in the second quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company's stock valued at $1,549,375,000 after purchasing an additional 5,592,123 shares in the last quarter. Legal & General Group Plc raised its position in AT&T by 2.7% during the second quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company's stock worth $1,148,689,000 after acquiring an additional 1,569,374 shares in the last quarter. Ameriprise Financial Inc. grew its position in shares of AT&T by 2.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company's stock valued at $985,307,000 after acquiring an additional 1,007,228 shares during the period. LSV Asset Management increased its stake in shares of AT&T by 1.1% during the 2nd quarter. LSV Asset Management now owns 30,092,610 shares of the technology company's stock worth $575,070,000 after purchasing an additional 315,580 shares during the last quarter. Finally, Pacer Advisors Inc. raised its holdings in shares of AT&T by 2.5% in the 2nd quarter. Pacer Advisors Inc. now owns 28,113,880 shares of the technology company's stock valued at $537,256,000 after purchasing an additional 675,082 shares during the period. 57.10% of the stock is currently owned by institutional investors.

AT&T Price Performance

T stock traded up $0.09 during midday trading on Wednesday, reaching $22.82. The company had a trading volume of 6,332,151 shares, compared to its average volume of 35,336,137. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $23.20. The stock has a 50 day moving average price of $21.94 and a 200-day moving average price of $19.84. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. The company has a market capitalization of $163.74 billion, a price-to-earnings ratio of 18.48, 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 earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS 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 company had revenue of $30.20 billion during the quarter, compared to analysts' expectations of $30.50 billion. During the same period in the previous year, the company earned $0.64 EPS. The business's revenue for the quarter was down .5% compared to the same quarter last year. Equities research analysts expect that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.86%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T's payout ratio is 90.24%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Moffett Nathanson boosted their price target on AT&T from $17.00 to $18.00 and gave the stock a "neutral" rating in a research report on Thursday, August 15th. Royal Bank of Canada restated a "sector perform" rating and issued a $22.00 price target on shares of AT&T in a research note on Thursday, October 24th. Barclays lifted their price objective on shares of AT&T from $22.00 to $24.00 and gave the stock an "overweight" rating in a research report on Thursday, October 24th. Citigroup increased their price objective on shares of AT&T from $21.00 to $24.00 and gave the company a "buy" rating in a research report on Wednesday, September 11th. Finally, Scotiabank downgraded shares of AT&T from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, AT&T has an average rating of "Moderate Buy" and a consensus price target of $23.40.

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.