Accredited Investors Inc. Buys 11,641 Shares of AT&T Inc. (T)

Accredited Investors Inc. grew its stake in shares of AT&T Inc. (NYSE:T) by 85.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,209 shares of the technology company’s stock after purchasing an additional 11,641 shares during the quarter. Accredited Investors Inc.’s holdings in AT&T were worth $987,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Telos Capital Management Inc. increased its position in shares of AT&T by 4.8% during the second quarter. Telos Capital Management Inc. now owns 69,994 shares of the technology company’s stock worth $2,641,000 after acquiring an additional 3,197 shares during the last quarter. Welch Investments LLC increased its holdings in AT&T by 9.3% in the second quarter. Welch Investments LLC now owns 109,245 shares of the technology company’s stock valued at $4,122,000 after buying an additional 9,291 shares during the last quarter. Moors & Cabot Inc. increased its holdings in AT&T by 11.3% in the second quarter. Moors & Cabot Inc. now owns 247,888 shares of the technology company’s stock valued at $9,373,000 after buying an additional 25,167 shares during the last quarter. Wedbush Securities Inc. increased its holdings in AT&T by 9.7% in the second quarter. Wedbush Securities Inc. now owns 176,333 shares of the technology company’s stock valued at $6,653,000 after buying an additional 15,562 shares during the last quarter. Finally, Ingalls & Snyder LLC increased its holdings in AT&T by 2.3% in the second quarter. Ingalls & Snyder LLC now owns 460,224 shares of the technology company’s stock valued at $17,364,000 after buying an additional 10,305 shares during the last quarter. Institutional investors own 55.75% of the company’s stock.

Several analysts recently weighed in on T shares. Oppenheimer reissued a “hold” rating on shares of AT&T in a report on Wednesday, October 25th. Citigroup boosted their price objective on AT&T from $52.00 to $54.00 and gave the company a “buy” rating in a report on Friday, November 10th. KeyCorp reissued a “hold” rating on shares of AT&T in a report on Wednesday, October 11th. Zacks Investment Research lowered AT&T from a “buy” rating to a “hold” rating in a report on Thursday, October 12th. Finally, Deutsche Bank lowered their price objective on AT&T from $41.00 to $38.00 and set a “hold” rating for the company in a report on Wednesday, October 25th. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $42.58.

In related news, Director Matthew K. Rose bought 29,600 shares of the stock in a transaction dated Wednesday, October 25th. The stock was bought at an average cost of $33.75 per share, with a total value of $999,000.00. Following the completion of the acquisition, the director now owns 3,100 shares of the company’s stock, valued at $104,625. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.09% of the stock is currently owned by corporate insiders.

AT&T Inc. (T) opened at $38.14 on Monday. The company has a market capitalization of $234,140.00, a P/E ratio of 18.34, a PEG ratio of 3.14 and a beta of 0.44. AT&T Inc. has a fifty-two week low of $32.55 and a fifty-two week high of $42.70. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.23.

AT&T (NYSE:T) last posted its earnings results on Tuesday, October 24th. The technology company reported $0.74 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.01). The company had revenue of $39.67 billion for the quarter, compared to the consensus estimate of $40.34 billion. AT&T had a net margin of 8.00% and a return on equity of 14.49%. The firm’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period last year, the company posted $0.74 earnings per share. sell-side analysts predict that AT&T Inc. will post 2.92 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, January 9th. This is a positive change from AT&T’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a dividend yield of 5.24%. AT&T’s dividend payout ratio is 94.23%.

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AT&T Profile

AT&T Inc is a holding company. The Company is a provider of communications and digital entertainment services in the United States and the world. The Company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Company offers its services and products to consumers in the United States, Mexico and Latin America and to businesses and other providers of telecommunications services worldwide.

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

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