AT&T Inc. $T Stock Acquired by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC raised its stake in shares of AT&T Inc. (NYSE:T) by 7.8% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 365,724 shares of the technology company’s stock after purchasing an additional 26,507 shares during the period. Kestra Private Wealth Services LLC’s holdings in AT&T were worth $8,924,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in T. State Street Corp raised its position in AT&T by 5.8% in the 2nd quarter. State Street Corp now owns 334,273,613 shares of the technology company’s stock valued at $6,919,464,000 after buying an additional 18,468,679 shares during the last quarter. Bank of America Corp DE boosted its holdings in AT&T by 4.6% during the 1st quarter. Bank of America Corp DE now owns 125,191,700 shares of the technology company’s stock worth $3,629,307,000 after acquiring an additional 5,449,222 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in AT&T by 3.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 75,323,574 shares of the technology company’s stock worth $1,559,198,000 after acquiring an additional 2,559,065 shares during the last quarter. GQG Partners LLC purchased a new position in AT&T during the 2nd quarter worth $1,223,364,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of AT&T by 2.5% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 55,616,152 shares of the technology company’s stock worth $1,151,254,000 after acquiring an additional 1,336,556 shares in the last quarter. 57.10% of the stock is owned by institutional investors.

AT&T Stock Performance

Shares of T stock opened at $21.89 on Thursday. The firm has a market cap of $147.50 billion, a price-to-earnings ratio of 11.84, a P/E/G ratio of 1.06 and a beta of 0.30. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.82 and a current ratio of 0.87. AT&T Inc. has a 52 week low of $19.89 and a 52 week high of $29.43. The firm’s 50-day simple moving average is $24.12 and its two-hundred day simple moving average is $24.93.

AT&T (NYSE:T) last released its earnings results on Wednesday, October 21st. The technology company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.05. AT&T had a net margin of 10.19% and a return on equity of 13.41%. The firm had revenue of $32.32 billion for the quarter, compared to analysts’ expectations of $31.69 billion. During the same period in the previous year, the company earned $0.54 earnings per share. The company’s quarterly revenue was up 5.2% on a year-over-year basis. As a group, equities analysts forecast that AT&T Inc. will post 2.39 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 2nd. Shareholders of record on Monday, October 12th were given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date of this dividend was Friday, October 9th. AT&T’s dividend payout ratio (DPR) is currently 60.00%.

Analysts Set New Price Targets

T has been the topic of a number of recent analyst reports. Wolfe Research raised shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $29.00 price target on the stock in a research report on Thursday, July 23rd. Sanford C. Bernstein cut shares of AT&T from an “outperform” rating to a “market perform” rating and set a $24.00 target price on the stock. in a research report on Tuesday, October 13th. TD Cowen restated a “hold” rating and issued a $33.00 target price on shares of AT&T in a research note on Thursday, October 22nd. Arete Research decreased their price target on AT&T from $28.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, October 1st. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on AT&T from $32.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, October 27th. Twelve analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $27.56.

About AT&T

AT&T Inc (NYSE: T) is a telecommunications company that provides wireless communications, broadband, and related connectivity services. Its offerings include mobile voice and data plans, internet access, fiber broadband, fixed wireless services, and business communications solutions.

The company serves consumers, businesses, government agencies, and other organizations primarily in the United States. AT&T’s business operations include wireless network services, wireline connectivity, fiber-optic internet, voice services, and networking solutions designed to connect locations, devices, and applications.

AT&T traces its history to the Bell System and has operated under its current corporate name since 2005, following the acquisition of AT&T Corp.