Farther Finance Advisors LLC Acquires 29,292 Shares of AT&T Inc. (NYSE:T)

Farther Finance Advisors LLC raised its stake in shares of AT&T Inc. (NYSE:T) by 36.6% during the third quarter, HoldingsChannel reports. The firm owned 109,343 shares of the technology company’s stock after buying an additional 29,292 shares during the quarter. Farther Finance Advisors LLC’s holdings in AT&T were worth $2,405,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Lowe Brockenbrough & Co. Inc. lifted its stake in shares of AT&T by 3.9% during the 3rd quarter. Lowe Brockenbrough & Co. Inc. now owns 34,404 shares of the technology company’s stock worth $757,000 after acquiring an additional 1,306 shares during the last quarter. Eads & Heald Wealth Management purchased a new position in AT&T during the 3rd quarter valued at about $238,000. Americana Partners LLC increased its holdings in AT&T by 2.1% during the third quarter. Americana Partners LLC now owns 114,286 shares of the technology company’s stock valued at $2,514,000 after buying an additional 2,298 shares during the period. Gladstone Institutional Advisory LLC increased its holdings in shares of AT&T by 48.0% in the 3rd quarter. Gladstone Institutional Advisory LLC now owns 71,092 shares of the technology company’s stock valued at $1,564,000 after acquiring an additional 23,052 shares during the period. Finally, TPG Advisors LLC bought a new position in AT&T in the third quarter worth about $218,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

Shares of NYSE T opened at $22.12 on Friday. AT&T Inc. has a 1 year low of $15.46 and a 1 year high of $22.73. 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’s fifty day moving average price is $21.47 and its 200 day moving average price is $19.33. The company has a market capitalization of $158.72 billion, a PE ratio of 17.98, a price-to-earnings-growth ratio of 3.38 and a beta of 0.59.

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

AT&T Announces Dividend

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

Analysts Set New Price Targets

T has been the topic of a number of recent analyst reports. 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 research report on Thursday, October 24th. Daiwa America upgraded shares of AT&T to a “hold” rating in a research note on Friday, July 26th. Redburn Atlantic raised AT&T to a “strong sell” rating in a research report on Monday, September 16th. Scotiabank lowered AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Finally, Evercore ISI raised their price objective on AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $23.40.

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.