AT&T Inc. $T Stock: Trek Financial LLC Boosts Stake

Trek Financial LLC lifted its holdings in AT&T Inc. (NYSE:T) by 557.7% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 135,782 shares of the technology company’s stock after buying an additional 115,138 shares during the quarter. Trek Financial LLC’s holdings in AT&T were worth $3,313,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of T. Parr Mcknight Wealth Management Group LLC bought a new stake in AT&T in the first quarter valued at $2,901,000. Sound Income Strategies LLC boosted its holdings in shares of AT&T by 19.8% during the third quarter. Sound Income Strategies LLC now owns 754,818 shares of the technology company’s stock valued at $18,772,000 after acquiring an additional 124,997 shares during the period. B.A. Schrock Wealth Management Inc. acquired a new position in shares of AT&T during the third quarter valued at $1,583,000. Orographic Financial Advisors LLC bought a new position in shares of AT&T during the first quarter worth about $3,449,000. Finally, Quintet Private Bank Europe S.A. grew its position in shares of AT&T by 44.1% during the third quarter. Quintet Private Bank Europe S.A. now owns 2,451,253 shares of the technology company’s stock worth $59,811,000 after acquiring an additional 750,364 shares during the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on T. Wells Fargo & Company increased their price objective on shares of AT&T from $18.00 to $20.00 and gave the stock an “underweight” rating in a report on Thursday, July 23rd. JPMorgan Chase & Co. cut their price objective on shares of AT&T from $33.00 to $31.00 and set an “overweight” rating on the stock in a research report on Thursday, October 22nd. Argus reaffirmed a “buy” rating and set a $30.00 price target on shares of AT&T in a report on Thursday, October 22nd. Morgan Stanley cut their price target on AT&T from $28.00 to $25.00 and set an “overweight” rating on the stock in a report on Thursday, October 22nd. Finally, KeyCorp reduced their price objective on AT&T from $36.00 to $33.00 and set an “overweight” rating for the company in a research report on Thursday, October 22nd. Twelve research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.55.

AT&T Stock Performance

Shares of T opened at $21.46 on Tuesday. The firm has a market capitalization of $144.57 billion, a PE ratio of 11.60, a P/E/G ratio of 1.03 and a beta of 0.25. The company has a quick ratio of 0.82, a current ratio of 0.87 and a debt-to-equity ratio of 1.22. The firm has a 50-day moving average price of $24.28 and a 200 day moving average price of $24.95. AT&T Inc. has a 52-week low of $19.89 and a 52-week high of $29.43.

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

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 2nd. Investors of record on Monday, October 12th were paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date was Friday, October 9th. AT&T’s dividend payout ratio (DPR) is currently 60.00%.

AT&T Profile

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.