Smart Money Group LLC increased its holdings in AT&T Inc. (NYSE:T) by 5.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,479 shares of the technology company’s stock after purchasing an additional 1,140 shares during the period. Smart Money Group LLC’s holdings in AT&T were worth $851,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. JJJ Advisors Inc. acquired a new position in AT&T during the 3rd quarter worth $27,000. Horan Securities Inc. lifted its position in AT&T by 439.2% during the 2nd quarter. Horan Securities Inc. now owns 1,019 shares of the technology company’s stock worth $34,000 after acquiring an additional 830 shares during the last quarter. Next Capital Management LLC acquired a new position in AT&T during the 2nd quarter worth $39,000. Contravisory Investment Management Inc. lifted its position in AT&T by 36.0% during the 2nd quarter. Contravisory Investment Management Inc. now owns 1,277 shares of the technology company’s stock worth $43,000 after acquiring an additional 338 shares during the last quarter. Finally, Bourgeon Capital Management LLC acquired a new position in shares of AT&T during the third quarter valued at about $45,000. Hedge funds and other institutional investors own 52.89% of the company’s stock.
NYSE T traded down $0.20 on Tuesday, reaching $39.17. The company’s stock had a trading volume of 15,310,017 shares, compared to its average volume of 30,462,381. The firm has a market cap of $286.14 billion, a PE ratio of 11.13, a price-to-earnings-growth ratio of 2.48 and a beta of 0.64. The business has a 50-day moving average price of $37.96 and a 200 day moving average price of $34.56. AT&T Inc. has a 52 week low of $26.80 and a 52 week high of $39.58. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.79.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were paid a dividend of $0.51 per share. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $2.04 annualized dividend and a yield of 5.21%. AT&T’s dividend payout ratio is 57.95%.
A number of brokerages have recently commented on T. Sanford C. Bernstein began coverage on shares of AT&T in a research report on Tuesday, October 15th. They set a “market perform” rating and a $36.00 price objective for the company. Morgan Stanley set a $37.00 price objective on shares of AT&T and gave the company a “buy” rating in a research report on Tuesday, September 10th. Standpoint Research cut shares of AT&T from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. upped their target price on shares of AT&T from $39.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Finally, UBS Group upped their target price on shares of AT&T from $38.00 to $42.00 and gave the company a “buy” rating in a research note on Monday, November 4th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company. AT&T currently has a consensus rating of “Hold” and an average price target of $40.74.
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.
Recommended Story: What is Cost of Debt?
Want to see what other hedge funds are holding T? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AT&T Inc. (NYSE:T).
Receive News & Ratings for AT&T Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AT&T and related companies with MarketBeat.com's FREE daily email newsletter.