Raymond James Trust N.A. raised its holdings in AT&T Inc. (NYSE:T) by 2.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 567,743 shares of the technology company’s stock after acquiring an additional 13,680 shares during the quarter. Raymond James Trust N.A.’s holdings in AT&T were worth $16,186,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of T. NWK Group Inc. bought a new position in shares of AT&T in the 2nd quarter valued at about $65,000. JJJ Advisors Inc. raised its position in shares of AT&T by 212.3% in the 2nd quarter. JJJ Advisors Inc. now owns 2,217 shares of the technology company’s stock valued at $67,000 after buying an additional 1,507 shares in the last quarter. Provident Wealth Management LLC acquired a new position in shares of AT&T in the 3rd quarter valued at approximately $70,000. Litman Gregory Asset Management LLC raised its position in shares of AT&T by 844.0% in the 2nd quarter. Litman Gregory Asset Management LLC now owns 2,983 shares of the technology company’s stock valued at $90,000 after buying an additional 2,667 shares in the last quarter. Finally, Alpha Windward LLC raised its position in shares of AT&T by 15.0% in the 2nd quarter. Alpha Windward LLC now owns 3,609 shares of the technology company’s stock valued at $109,000 after buying an additional 472 shares in the last quarter. Hedge funds and other institutional investors own 52.29% of the company’s stock.

T opened at $27.33 on Friday. AT&T Inc. has a fifty-two week low of $26.08 and a fifty-two week high of $39.70. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market capitalization of $194.73 billion, a price-to-earnings ratio of 16.77, a PEG ratio of 1.64 and a beta of 0.69. The company’s 50 day moving average price is $28.84 and its two-hundred day moving average price is $29.74.

AT&T (NYSE:T) last posted its earnings results on Thursday, July 23rd. The technology company reported $0.83 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.04. AT&T had a net margin of 6.84% and a return on equity of 13.03%. The firm had revenue of $40.95 billion for the quarter, compared to analyst estimates of $40.87 billion. During the same period in the previous year, the firm posted $0.89 EPS. The company’s revenue for the quarter was down 8.9% compared to the same quarter last year. As a group, equities research analysts predict that AT&T Inc. will post 3.21 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Monday, October 12th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 7.61%. The ex-dividend date is Thursday, October 8th. AT&T’s payout ratio is 58.26%.

In other news, Director Stephen J. Luczo acquired 100,000 shares of AT&T stock in a transaction dated Thursday, July 23rd. The shares were bought at an average cost of $29.69 per share, with a total value of $2,969,000.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.07% of the company’s stock.

Several brokerages have recently commented on T. Scotiabank cut shares of AT&T from a “sector perform” rating to a “sector underperform” rating and dropped their target price for the company from $34.00 to $30.00 in a research report on Monday, August 31st. KeyCorp cut shares of AT&T from a “sector weight” rating to an “underweight” rating and set a $25.00 target price for the company. in a research report on Monday, October 5th. Oppenheimer restated a “buy” rating and issued a $38.00 target price on shares of AT&T in a research report on Thursday, October 1st. Barclays initiated coverage on shares of AT&T in a research report on Friday, October 2nd. They issued an “overweight” rating for the company. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of AT&T from $38.00 to $37.00 and set a “buy” rating for the company in a research report on Tuesday, August 4th. Six equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have assigned a buy rating to the stock. AT&T has an average rating of “Hold” and an average target price of $33.56.

AT&T Profile

AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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