Romano Brothers AND Company Buys 9,800 Shares of AT&T Inc. (NYSE:T)

Romano Brothers AND Company raised its stake in shares of AT&T Inc. (NYSE:T) by 5.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 187,069 shares of the technology company’s stock after buying an additional 9,800 shares during the quarter. Romano Brothers AND Company’s holdings in AT&T were worth $4,116,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Davidson Kempner Capital Management LP bought a new position in shares of AT&T during the 2nd quarter valued at $23,888,000. Talbot Financial LLC purchased a new position in AT&T in the third quarter worth about $7,438,000. Mackenzie Financial Corp boosted its position in AT&T by 12.2% in the second quarter. Mackenzie Financial Corp now owns 2,641,856 shares of the technology company’s stock worth $50,486,000 after purchasing an additional 288,093 shares during the last quarter. DRW Securities LLC increased its position in shares of AT&T by 642.2% during the 2nd quarter. DRW Securities LLC now owns 104,309 shares of the technology company’s stock valued at $1,997,000 after purchasing an additional 90,255 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of AT&T by 4.3% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 1,037,529 shares of the technology company’s stock worth $19,827,000 after purchasing an additional 43,062 shares during the period. 57.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

T has been the subject of several analyst reports. Tigress Financial upped their price objective on AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Deutsche Bank Aktiengesellschaft boosted their target price on AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. TD Cowen boosted their price target on shares of AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Citigroup upped their price objective on AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Finally, Royal Bank of Canada raised their target price on shares of AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.93.

AT&T Price Performance

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

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, meeting analysts’ consensus estimates of $0.57. The company had revenue of $29.80 billion during the quarter, compared to the consensus estimate of $30.05 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. AT&T’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.63 EPS. On average, equities analysts anticipate that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Dividend Announcement

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