AT&T Inc. $T Stock Acquired by Trek Financial LLC

Trek Financial LLC boosted its holdings in AT&T Inc. (NYSE:T) by 557.7% during the 3rd quarter, Holdings Channel.com reports. The fund owned 135,782 shares of the technology company’s stock after purchasing an additional 115,138 shares during the quarter. Trek Financial LLC’s holdings in AT&T were worth $3,313,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of T. Security Financial Services INC. acquired a new position in AT&T in the third quarter worth approximately $205,000. Woodmont Investment Counsel LLC lifted its position in shares of AT&T by 7.2% during the 3rd quarter. Woodmont Investment Counsel LLC now owns 23,460 shares of the technology company’s stock valued at $572,000 after acquiring an additional 1,573 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its position in shares of AT&T by 6.8% during the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 816,612 shares of the technology company’s stock valued at $19,933,000 after acquiring an additional 52,029 shares during the last quarter. Boit C F David acquired a new stake in shares of AT&T during the 3rd quarter valued at $164,000. Finally, Virtue Capital Management LLC boosted its stake in shares of AT&T by 9.2% during the 3rd quarter. Virtue Capital Management LLC now owns 35,395 shares of the technology company’s stock worth $864,000 after acquiring an additional 2,986 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

AT&T Trading Up 0.2%

AT&T stock opened at $21.46 on Tuesday. AT&T Inc. has a 52 week low of $19.89 and a 52 week high of $29.43. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.82 and a current ratio of 0.87. The firm has a market capitalization of $144.57 billion, a price-to-earnings ratio of 11.60, a P/E/G ratio of 1.03 and a beta of 0.25. The company has a 50 day moving average price of $24.28 and a 200 day moving average price of $24.95.

AT&T (NYSE:T) last announced its earnings results on Wednesday, October 21st. The technology company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.05. The company had revenue of $32.32 billion for the quarter, compared to the consensus estimate of $31.69 billion. AT&T had a net margin of 10.19% and a return on equity of 13.41%. The company’s revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.54 EPS. Research analysts forecast that AT&T Inc. will post 2.39 EPS for the current year.

AT&T Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 5.2%. AT&T’s dividend payout ratio (DPR) is presently 60.00%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on T. Royal Bank Of Canada decreased their target price on AT&T from $31.00 to $27.00 and set an “outperform” rating on the stock in a report on Monday, July 20th. Morgan Stanley reduced their target price on AT&T from $28.00 to $25.00 and set an “overweight” rating for the company in a report on Thursday, October 22nd. Sanford C. Bernstein lowered AT&T from an “outperform” rating to a “market perform” rating and set a $24.00 price target for the company. in a research report on Tuesday, October 13th. BNP Paribas Exane upgraded AT&T from a “neutral” rating to an “outperform” rating and increased their price target for the company from $26.00 to $30.00 in a research report on Monday, September 21st. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of AT&T in a research note on Friday. Twelve analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.55.

AT&T Company Profile

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.