26,507 AT&T Inc. $T Shares Bought by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC raised its holdings in shares of AT&T Inc. (NYSE:T) by 7.8% during the third quarter, HoldingsChannel reports. The fund owned 365,724 shares of the technology company’s stock after purchasing an additional 26,507 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in AT&T were worth $8,924,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Bank of America Corp DE purchased a new position in shares of AT&T in the second quarter valued at $2,310,898,000. GQG Partners LLC bought a new stake in shares of AT&T during the 2nd quarter valued at $1,223,364,000. Legal & General Group Plc purchased a new stake in AT&T during the 2nd quarter worth about $960,695,000. State Street Corp lifted its holdings in AT&T by 5.8% during the 2nd quarter. State Street Corp now owns 334,273,613 shares of the technology company’s stock worth $6,919,464,000 after purchasing an additional 18,468,679 shares in the last quarter. Finally, Nykredit A S bought a new position in AT&T in the 2nd quarter worth about $259,954,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

NYSE:T opened at $21.89 on Thursday. The stock has a market cap of $147.50 billion, a P/E ratio of 11.84, a PEG ratio of 1.06 and a beta of 0.30. The company has a quick ratio of 0.82, a current ratio of 0.87 and a debt-to-equity ratio of 1.22. The business’s 50-day moving average price is $24.12 and its two-hundred day moving average price is $24.93. AT&T Inc. has a twelve month low of $19.89 and a twelve month high of $29.43.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, October 21st. The technology company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.60 by $0.05. The company had revenue of $32.32 billion during the quarter, compared to analyst estimates of $31.69 billion. AT&T had a return on equity of 13.41% and a net margin of 10.19%. AT&T’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.54 earnings per share. As a group, equities analysts predict that AT&T Inc. will post 2.39 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 2nd. Shareholders of record on Monday, October 12th were given a dividend of $0.2775 per share. The ex-dividend date was Friday, October 9th. This represents a $1.11 annualized dividend and a yield of 5.1%. AT&T’s payout ratio is presently 60.00%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of AT&T in a report on Friday, October 30th. Citigroup reduced their price objective on shares of AT&T from $31.50 to $28.00 and set a “buy” rating for the company in a research note on Thursday, July 23rd. BNP Paribas Exane raised shares of AT&T from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $26.00 to $30.00 in a report on Monday, September 21st. Wolfe Research upgraded shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $29.00 target price on the stock in a research note on Thursday, July 23rd. Finally, Moffett Nathanson cut their price target on shares of AT&T from $24.00 to $23.00 and set a “neutral” rating for the company in a report on Tuesday, September 22nd. Twelve research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, AT&T presently has a consensus rating of “Hold” and a consensus price target of $27.56.

About AT&T

AT&T Inc (NYSE: T) is a telecommunications company that provides wireless communications, broadband, and related connectivity services. Its offerings include mobile voice and data plans, internet access, fiber broadband, fixed wireless services, and business communications solutions.

The company serves consumers, businesses, government agencies, and other organizations primarily in the United States. AT&T’s business operations include wireless network services, wireline connectivity, fiber-optic internet, voice services, and networking solutions designed to connect locations, devices, and applications.

AT&T traces its history to the Bell System and has operated under its current corporate name since 2005, following the acquisition of AT&T Corp.