Mayflower Financial Advisors LLC Boosts Holdings in AT&T Inc. $T

Mayflower Financial Advisors LLC raised its stake in shares of AT&T Inc. (NYSE:T) by 4.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,792 shares of the technology company’s stock after purchasing an additional 1,626 shares during the period. Mayflower Financial Advisors LLC’s holdings in AT&T were worth $1,123,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Stone House Investment Management LLC acquired a new stake in shares of AT&T in the first quarter valued at about $25,000. O Brien Wealth Partners LLC acquired a new stake in shares of AT&T in the second quarter valued at about $26,000. Hager Investment Management Services LLC raised its position in shares of AT&T by 182.1% in the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock valued at $28,000 after buying an additional 641 shares during the last quarter. Kennebec Savings Bank raised its position in shares of AT&T by 412.1% in the second quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock valued at $28,000 after buying an additional 783 shares during the last quarter. Finally, Solstein Capital LLC raised its position in shares of AT&T by 217.3% in the second quarter. Solstein Capital LLC now owns 952 shares of the technology company’s stock valued at $28,000 after buying an additional 652 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Price Performance

Shares of T opened at $25.13 on Thursday. AT&T Inc. has a 1-year low of $21.38 and a 1-year high of $29.79. The stock has a market cap of $179.66 billion, a PE ratio of 8.16, a P/E/G ratio of 2.21 and a beta of 0.42. The firm has a 50-day simple moving average of $27.75 and a two-hundred day simple moving average of $27.74. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.01 and a quick ratio of 0.96.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.54. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The business had revenue of $30.71 billion during the quarter, compared to analysts’ expectations of $30.85 billion. During the same period last year, the business earned $0.60 earnings per share. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. As a group, analysts forecast that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be paid a $0.2775 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.4%. AT&T’s dividend payout ratio (DPR) is presently 36.04%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Royal Bank Of Canada reduced their target price on shares of AT&T from $31.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday, October 23rd. Cowen restated a “hold” rating on shares of AT&T in a research report on Thursday, October 23rd. Morgan Stanley raised their price objective on shares of AT&T from $31.00 to $32.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 16th. Williams Trading set a $33.00 price objective on shares of AT&T in a research report on Thursday, October 23rd. Finally, Raymond James Financial restated a “strong-buy” rating and set a $33.00 price objective (up from $31.00) on shares of AT&T in a research report on Thursday, September 18th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and a consensus price target of $30.67.

AT&T Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.