True North Advisors LLC Takes Position in AT&T Inc. $T

True North Advisors LLC bought a new stake in AT&T Inc. (NYSE:T) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 23,785 shares of the technology company’s stock, valued at approximately $672,000.

A number of other hedge funds have also recently added to or reduced their stakes in T. Denali Advisors LLC raised its holdings in AT&T by 5.9% during the 2nd quarter. Denali Advisors LLC now owns 401,037 shares of the technology company’s stock worth $11,606,000 after buying an additional 22,394 shares during the period. Tredje AP fonden boosted its stake in AT&T by 1.8% during the 2nd quarter. Tredje AP fonden now owns 1,221,395 shares of the technology company’s stock valued at $35,347,000 after purchasing an additional 21,720 shares during the last quarter. CHURCHILL MANAGEMENT Corp grew its holdings in AT&T by 1.5% during the second quarter. CHURCHILL MANAGEMENT Corp now owns 324,104 shares of the technology company’s stock valued at $9,380,000 after purchasing an additional 4,793 shares during the period. Kickstand Ventures LLC. bought a new position in shares of AT&T during the second quarter valued at about $489,000. Finally, Sentry Investment Management LLC lifted its holdings in AT&T by 153.2% in the 2nd quarter. Sentry Investment Management LLC now owns 22,095 shares of the technology company’s stock worth $625,000 after buying an additional 13,370 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on T. Citigroup cut their price objective on shares of AT&T from $32.00 to $29.00 and set a “buy” rating for the company in a report on Monday. Cowen reaffirmed a “hold” rating on shares of AT&T in a research report on Thursday, October 23rd. UBS Group reiterated a “buy” rating on shares of AT&T in a report on Thursday, October 23rd. Weiss Ratings restated a “buy (b)” rating on shares of AT&T in a report on Wednesday, October 8th. Finally, Wall Street Zen cut AT&T from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, AT&T currently has a consensus rating of “Moderate Buy” and an average price target of $30.24.

AT&T Price Performance

Shares of NYSE T opened at $24.31 on Tuesday. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.01 and a quick ratio of 0.96. The firm has a market capitalization of $172.31 billion, a PE ratio of 7.89, a P/E/G ratio of 1.41 and a beta of 0.38. AT&T Inc. has a 1-year low of $21.38 and a 1-year high of $29.79. The business’s fifty day moving average price is $25.20 and its two-hundred day moving average price is $27.11.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, hitting the consensus estimate of $0.54. The business had revenue of $30.71 billion during the quarter, compared to analyst estimates of $30.85 billion. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The company’s revenue was up 1.7% compared to the same quarter last year. During the same period last year, the company posted $0.60 EPS. On average, research analysts expect that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 12th will be paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date is Monday, January 12th. AT&T’s dividend payout ratio is presently 36.04%.

AT&T Company Profile

AT&T Inc is a global telecommunications company that provides a broad range of communications and digital entertainment services. Its core activities include consumer and business wireless services, broadband and fiber internet, and network infrastructure. The company operates branded wireless services through AT&T Mobility and deploys fixed-line and fiber networks to deliver high-speed internet and related home services.

AT&T’s product and service portfolio spans mobile voice and data plans, smartphones and device sales, home internet (including fiber-to-the-home where available), and managed connectivity solutions for enterprise customers.