Beese Fulmer Investment Management Inc. Has $1.60 Million Holdings in AT&T Inc. (NYSE:T)

Beese Fulmer Investment Management Inc. decreased its holdings in shares of AT&T Inc. (NYSE:T) by 2.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 72,780 shares of the technology company’s stock after selling 2,143 shares during the quarter. Beese Fulmer Investment Management Inc.’s holdings in AT&T were worth $1,601,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of T. Riggs Asset Managment Co. Inc. grew its holdings in 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 valued at $27,000 after purchasing an additional 1,116 shares during the period. American Capital Advisory LLC grew its holdings in AT&T by 107.5% during the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after purchasing an additional 807 shares during the period. Altshuler Shaham Ltd acquired a new position in AT&T during the second quarter valued at approximately $30,000. Marquette Asset Management LLC acquired a new position in AT&T during the third quarter valued at approximately $36,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its stake in AT&T by 176.6% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock valued at $35,000 after buying an additional 1,192 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on T. Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Daiwa America raised shares of AT&T to a “hold” rating in a research report on Friday, July 26th. Evercore ISI raised their target price on shares of AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a research report on Thursday, July 25th. Barclays raised their target price on shares of AT&T from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, June 28th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, AT&T has a consensus rating of “Moderate Buy” and a consensus price target of $23.07.

AT&T Stock Up 4.6 %

Shares of NYSE:T opened at $22.49 on Thursday. The company has a fifty day moving average of $21.09 and a 200-day moving average of $19.06. The company has a market capitalization of $161.26 billion, a PE ratio of 12.93, a price-to-earnings-growth ratio of 3.73 and a beta of 0.60. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. AT&T Inc. has a 52-week low of $14.74 and a 52-week high of $22.58.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.03. The company had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.64 earnings per share. On average, equities analysts predict that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be issued a $0.2775 dividend. The ex-dividend date is Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.94%. AT&T’s payout ratio is 63.79%.

About AT&T

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.