Keudell Morrison Wealth Management Boosts Position in AT&T Inc. (NYSE:T)

Keudell Morrison Wealth Management boosted its holdings in shares of AT&T Inc. (NYSE:T) by 9.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 91,433 shares of the technology company’s stock after buying an additional 7,531 shares during the quarter. Keudell Morrison Wealth Management’s holdings in AT&T were worth $2,012,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of T. Central Pacific Bank Trust Division purchased a new position in shares of AT&T during the 1st quarter valued at approximately $165,000. Mediolanum International Funds Ltd purchased a new stake in AT&T during the first quarter worth about $1,294,000. SPC Financial Inc. grew its position in shares of AT&T by 9.2% during the first quarter. SPC Financial Inc. now owns 21,415 shares of the technology company’s stock worth $377,000 after buying an additional 1,806 shares in the last quarter. Duality Advisers LP grew its position in shares of AT&T by 119.3% during the first quarter. Duality Advisers LP now owns 80,525 shares of the technology company’s stock worth $1,417,000 after buying an additional 43,800 shares in the last quarter. Finally, Empirical Finance LLC grew its position in shares of AT&T by 3.5% during the first quarter. Empirical Finance LLC now owns 256,956 shares of the technology company’s stock worth $4,522,000 after buying an additional 8,747 shares in the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Stock Performance

AT&T stock traded down $0.32 during mid-day trading on Thursday, hitting $22.00. 3,649,559 shares of the company’s stock traded hands, compared to its average volume of 35,523,813. The firm has a 50 day moving average price of $21.61 and a 200 day moving average price of $19.46. 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 $157.86 billion, a PE ratio of 18.15, a price-to-earnings-growth ratio of 3.29 and a beta of 0.59. AT&T Inc. has a one year low of $15.46 and a one year high of $22.73.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping 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 company had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. During the same quarter in the previous year, the business earned $0.64 EPS. The company’s quarterly revenue was down .5% compared to the same quarter last year. On average, equities 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 given a dividend of $0.2775 per share. The ex-dividend date was Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.05%. AT&T’s dividend payout ratio is presently 90.24%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Tigress Financial boosted their price objective on AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Barclays upped their price target on AT&T from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $22.00 price target on shares of AT&T in a report on Thursday, October 24th. Wells Fargo & Company lowered 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. Finally, JPMorgan Chase & Co. upped their price target on AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $23.40.

AT&T Company 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.