Mach 1 Financial Group LLC Has $262,000 Stock Position in AT&T Inc. (NYSE:T)

Mach 1 Financial Group LLC increased its position in shares of AT&T Inc. (NYSE:T) by 4.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,897 shares of the technology company’s stock after acquiring an additional 531 shares during the quarter. Mach 1 Financial Group LLC’s holdings in AT&T were worth $262,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Davidson Kempner Capital Management LP acquired a new stake in AT&T during the 2nd quarter worth about $23,888,000. Talbot Financial LLC acquired a new stake in shares of AT&T during the third quarter worth approximately $7,438,000. Mackenzie Financial Corp grew its position in AT&T by 12.2% during the second quarter. Mackenzie Financial Corp now owns 2,641,856 shares of the technology company’s stock valued at $50,486,000 after purchasing an additional 288,093 shares in the last quarter. DRW Securities LLC increased its stake in AT&T by 642.2% in the 2nd quarter. DRW Securities LLC now owns 104,309 shares of the technology company’s stock valued at $1,997,000 after buying an additional 90,255 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its position in 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 buying an additional 43,062 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on T shares. Moffett Nathanson upped their price target on shares of AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Wells Fargo & Company dropped their target price 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. Barclays lifted 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. Oppenheimer increased their price objective on AT&T from $23.00 to $24.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, TD Cowen lifted their target price on shares of AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.40.

AT&T Trading Up 1.4 %

Shares of NYSE:T opened at $22.34 on Friday. 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 stock’s 50-day moving average is $21.70 and its 200-day moving average is $19.52. The company has a market cap of $160.30 billion, a P/E ratio of 18.16, a P/E/G ratio of 3.35 and a beta of 0.59. AT&T Inc. has a 52-week low of $15.46 and a 52-week high of $22.73.

AT&T (NYSE:T) last released its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (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 analyst estimates of $30.50 billion. During the same quarter last year, the firm posted $0.64 EPS. The company’s revenue was down .5% on a year-over-year basis. Equities research analysts predict that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

The business also recently announced 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 4.97%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s payout ratio is currently 90.24%.

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.