Wilmington Savings Fund Society FSB grew its stake in AT&T Inc. (NYSE:T - Free Report) by 386.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 266,565 shares of the technology company's stock after buying an additional 211,723 shares during the period. Wilmington Savings Fund Society FSB's holdings in AT&T were worth $5,864,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the business. World Investment Advisors LLC raised its holdings in AT&T by 28.4% in the 3rd quarter. World Investment Advisors LLC now owns 174,118 shares of the technology company's stock worth $3,831,000 after purchasing an additional 38,548 shares in the last quarter. Sanctuary Advisors LLC grew its position in shares of AT&T by 15.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 1,100,943 shares of the technology company's stock worth $25,520,000 after buying an additional 144,119 shares during the period. Pine Valley Investments Ltd Liability Co grew its position in shares of AT&T by 6.1% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 129,474 shares of the technology company's stock worth $2,848,000 after buying an additional 7,394 shares during the period. Sculati Wealth Management LLC grew its position in shares of AT&T by 38.9% in the 3rd quarter. Sculati Wealth Management LLC now owns 45,581 shares of the technology company's stock worth $1,003,000 after buying an additional 12,772 shares during the period. Finally, Passumpsic Savings Bank grew its position in shares of AT&T by 12.2% in the 3rd quarter. Passumpsic Savings Bank now owns 17,369 shares of the technology company's stock worth $382,000 after buying an additional 1,893 shares during the period. 57.10% of the stock is currently owned by institutional investors.
AT&T Trading Up 0.6 %
Shares of T traded up $0.14 during trading hours on Friday, reaching $23.50. 20,356,856 shares of the company traded hands, compared to its average volume of 35,458,883. The firm has a market cap of $168.62 billion, a price-to-earnings ratio of 19.18, a PEG ratio of 3.57 and a beta of 0.59. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $24.03. 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 stock's fifty day moving average price is $22.47 and its 200 day moving average price is $20.51.
AT&T (NYSE:T - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates of $0.57 by $0.03. The company had revenue of $30.20 billion during the quarter, compared to analyst estimates of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The firm's revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.64 earnings per share. Sell-side analysts forecast that AT&T Inc. will post 2.19 earnings per share for the current year.
AT&T Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.72%. AT&T's dividend payout ratio (DPR) is presently 90.24%.
Analyst Upgrades and Downgrades
Several analysts recently commented on the stock. The Goldman Sachs Group increased their price objective on shares of AT&T from $25.00 to $28.00 and gave the company a "buy" rating in a research report on Thursday, December 5th. Oppenheimer initiated coverage on shares of AT&T in a research note on Tuesday. They issued an "outperform" rating and a $28.00 price target for the company. Sanford C. Bernstein initiated coverage on shares of AT&T in a research note on Tuesday. They issued an "outperform" rating and a $28.00 price target for the company. Tigress Financial lifted their price target on shares of AT&T from $29.00 to $30.00 and gave the stock a "buy" rating in a research note on Friday, September 27th. Finally, Barclays lifted their price target on shares of AT&T from $24.00 to $27.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, AT&T currently has an average rating of "Moderate Buy" and a consensus target price of $25.00.
Read Our Latest Analysis on T
AT&T Company Profile
(
Free Report)
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.
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