Pure Financial Advisors LLC Has $450,000 Stock Holdings in AT&T Inc. (NYSE:T)

Pure Financial Advisors LLC increased its holdings in shares of AT&T Inc. (NYSE:T) by 11.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,463 shares of the technology company’s stock after buying an additional 2,148 shares during the period. Pure Financial Advisors LLC’s holdings in AT&T were worth $450,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of AT&T by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 624,994,998 shares of the technology company’s stock worth $10,999,912,000 after purchasing an additional 2,588,539 shares during the period. Bank of New York Mellon Corp lifted its position in shares of AT&T by 7.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock worth $1,549,375,000 after purchasing an additional 5,592,123 shares during the period. Legal & General Group Plc lifted its position in shares of AT&T by 2.7% in the 2nd quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company’s stock worth $1,148,689,000 after purchasing an additional 1,569,374 shares during the period. Ameriprise Financial Inc. lifted its position in shares of AT&T by 2.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock worth $985,307,000 after purchasing an additional 1,007,228 shares during the period. Finally, LSV Asset Management increased its stake in shares of AT&T by 1.1% in the 2nd quarter. LSV Asset Management now owns 30,092,610 shares of the technology company’s stock valued at $575,070,000 after acquiring an additional 315,580 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

T has been the subject of several research analyst reports. Tigress Financial lifted their price objective on shares of AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Oppenheimer lifted their price objective on shares of AT&T from $23.00 to $24.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Barclays lifted their price objective on shares of AT&T from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Daiwa America upgraded shares of AT&T to a “hold” rating in a research note on Friday, July 26th. Finally, Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $23.40.

AT&T Price Performance

Shares of NYSE:T opened at $22.12 on Monday. The company’s 50-day moving average is $21.47 and its 200 day moving average is $19.36. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. The company has a market capitalization of $158.72 billion, a P/E ratio of 17.98, a price-to-earnings-growth ratio of 3.38 and a beta of 0.59. AT&T Inc. has a fifty-two week low of $15.46 and a fifty-two week high of $22.73.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The company had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.64 EPS. On average, equities research analysts forecast that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 5.02%. The ex-dividend date was Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

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.