Fiduciary Alliance LLC Acquires 7,978 Shares of AT&T Inc. (NYSE:T)

Fiduciary Alliance LLC raised its stake in AT&T Inc. (NYSE:T) by 66.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,924 shares of the technology company’s stock after purchasing an additional 7,978 shares during the period. Fiduciary Alliance LLC’s holdings in AT&T were worth $438,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Strategic Financial Concepts LLC lifted its position in AT&T by 227.6% in the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $25,000 after purchasing an additional 91,578 shares during the period. Riggs Asset Managment Co. Inc. increased its stake in AT&T by 356.5% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after acquiring an additional 1,116 shares during the period. American Capital Advisory LLC raised its position in AT&T by 107.5% in the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after purchasing an additional 807 shares in the last quarter. Altshuler Shaham Ltd bought a new position in AT&T during the second quarter worth about $30,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its stake in shares of AT&T by 176.6% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock valued at $35,000 after purchasing an additional 1,192 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on T. Oppenheimer upped their price objective on shares of AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Citigroup raised their price objective on shares of AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Tigress Financial upped their target price on shares of AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Royal Bank of Canada raised their price target on AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a report on Thursday, July 25th. Finally, Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.69.

AT&T Trading Down 0.5 %

T stock opened at $21.26 on Tuesday. The stock has a market cap of $152.44 billion, a price-to-earnings ratio of 11.43, a price-to-earnings-growth ratio of 3.62 and a beta of 0.60. The company has a fifty day moving average price of $20.76 and a two-hundred day moving average price of $18.86. AT&T Inc. has a one year low of $14.23 and a one year high of $22.34. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66.

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

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 5.22%. The ex-dividend date of this dividend is Thursday, October 10th. AT&T’s dividend payout ratio is currently 59.68%.

AT&T Company 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.