AT&T Inc. (NYSE:T) Position Increased by Planning Capital Management Corp

Planning Capital Management Corp raised its stake in shares of AT&T Inc. (NYSE:T) by 23.3% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 7,403 shares of the technology company’s stock after acquiring an additional 1,399 shares during the quarter. Planning Capital Management Corp’s holdings in AT&T were worth $163,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of T. Strategic Financial Concepts LLC lifted its position in shares of AT&T by 227.6% during the 2nd 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 last quarter. Riggs Asset Managment Co. Inc. lifted its position in shares of AT&T by 356.5% during the 2nd 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. American Capital Advisory LLC raised its holdings in AT&T by 107.5% in the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after acquiring an additional 807 shares in the last quarter. Altshuler Shaham Ltd acquired a new position in AT&T in the 2nd quarter valued at approximately $30,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its holdings in 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 acquiring an additional 1,192 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on T. Wells Fargo & Company cut their price target on AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Citigroup upped their price target on AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. TD Cowen upped their price target on AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Tigress Financial upped their price objective on AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Finally, Daiwa America upgraded AT&T to a “hold” rating in a research note on Friday, July 26th. One 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 given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.40.

AT&T Stock Performance

T stock opened at $22.30 on Thursday. The business’s fifty day moving average is $21.82 and its 200-day moving average is $19.65. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. The company has a market cap of $160.01 billion, a P/E ratio of 18.13, a price-to-earnings-growth ratio of 3.33 and a beta of 0.59. AT&T Inc. has a twelve month low of $15.52 and a twelve month high of $22.73.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.57 by $0.03. The business had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The firm’s revenue was down .5% compared to the same quarter last year. During the same quarter last year, the business posted $0.64 EPS. Equities research analysts forecast that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 4.98%. The ex-dividend date was Thursday, October 10th. AT&T’s payout ratio 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.