Cornerstone Wealth Group LLC lifted its position in shares of AT&T Inc. (NYSE:T – Free Report) by 0.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 295,259 shares of the technology company’s stock after purchasing an additional 2,400 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in AT&T were worth $6,496,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in T. Strategic Financial Concepts LLC increased 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 buying an additional 91,578 shares in the last quarter. Riggs Asset Managment Co. Inc. boosted its stake 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 buying an additional 1,116 shares during the last quarter. American Capital Advisory LLC boosted its stake 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 buying an additional 807 shares during the last quarter. Altshuler Shaham Ltd bought a new position in AT&T during the second quarter valued at approximately $30,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in AT&T by 176.6% during 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 during the last quarter. 57.10% of the stock is currently owned by institutional investors.
AT&T Trading Down 0.8 %
Shares of T stock opened at $22.01 on Thursday. The company’s 50-day moving average price is $21.36 and its 200-day moving average price is $19.25. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The stock has a market cap of $157.82 billion, a price-to-earnings ratio of 17.89, a PEG ratio of 3.74 and a beta of 0.60. AT&T Inc. has a twelve month low of $15.25 and a twelve month high of $22.58.
AT&T Dividend Announcement
The company also recently announced 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 annualized dividend and a yield of 5.04%. AT&T’s dividend payout ratio (DPR) is 90.24%.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. raised their price objective on AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Wells Fargo & Company reduced their price target on AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Tigress Financial raised their price objective on AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Citigroup raised their price objective on AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $22.00 price objective on shares of AT&T in a report on Thursday, October 24th. One research 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 MarketBeat, AT&T has a consensus rating of “Moderate Buy” and a consensus target price of $23.40.
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.
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