Sound Income Strategies LLC Boosts Holdings in AT&T Inc. (NYSE:T)

Sound Income Strategies LLC boosted its stake in AT&T Inc. (NYSE:T) by 5.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,179,250 shares of the technology company’s stock after acquiring an additional 59,778 shares during the period. AT&T comprises approximately 1.7% of Sound Income Strategies LLC’s portfolio, making the stock its 13th largest position. Sound Income Strategies LLC’s holdings in AT&T were worth $25,943,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Riggs Asset Managment Co. Inc. raised its stake in shares of AT&T by 356.5% during the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after purchasing an additional 1,116 shares during the last quarter. Pineridge Advisors LLC purchased a new position in shares of AT&T during the 4th quarter worth approximately $25,000. American Capital Advisory LLC boosted its stake in shares of AT&T by 107.5% in the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after buying an additional 807 shares in the last quarter. Altshuler Shaham Ltd acquired a new position in AT&T during the second quarter worth $30,000. Finally, Marquette Asset Management LLC purchased a new stake in shares of AT&T during the 3rd quarter worth approximately $36,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on T. Daiwa America raised shares of AT&T to a “hold” rating in a research report on Friday, July 26th. Tigress Financial increased their price objective on shares of AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, September 27th. JPMorgan Chase & Co. raised their price objective on AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Scotiabank downgraded shares of AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, Citigroup raised their price target on shares of AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and an average price target of $22.38.

AT&T Trading Up 0.7 %

T stock traded up $0.15 during midday trading on Friday, hitting $21.37. The company had a trading volume of 25,249,822 shares, compared to its average volume of 35,699,320. The stock has a market cap of $153.23 billion, a price-to-earnings ratio of 12.28, a PEG ratio of 3.74 and a beta of 0.60. The stock’s 50 day moving average price is $20.71 and its 200 day moving average price is $18.83. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. AT&T Inc. has a 52 week low of $14.23 and a 52 week high of $22.34.

AT&T (NYSE:T) last announced its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The firm had revenue of $29.80 billion during the quarter, compared to analyst estimates of $30.05 billion. During the same quarter in the prior year, the company earned $0.63 EPS. The business’s revenue was down .3% compared to the same quarter last year. As a group, equities research analysts expect that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 5.19%. The ex-dividend date of this dividend is Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is presently 63.79%.

AT&T Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.