AT&T Inc. (T) Shares Bought by Smith Salley & Associates

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Smith Salley & Associates increased its stake in shares of AT&T Inc. (NYSE:T) by 35.0% during the 3rd quarter, Holdings Channel reports. The firm owned 150,065 shares of the technology company’s stock after acquiring an additional 38,923 shares during the quarter. Smith Salley & Associates’ holdings in AT&T were worth $5,039,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Price Wealth Management Inc. grew its holdings in shares of AT&T by 165.1% during the 2nd quarter. Price Wealth Management Inc. now owns 3,314 shares of the technology company’s stock valued at $106,000 after purchasing an additional 2,064 shares during the last quarter. Chessman Wealth Strategies RIA bought a new stake in shares of AT&T during the 3rd quarter valued at approximately $114,000. Hoertkorn Richard Charles grew its holdings in shares of AT&T by 66.7% during the 3rd quarter. Hoertkorn Richard Charles now owns 5,000 shares of the technology company’s stock valued at $168,000 after purchasing an additional 2,000 shares during the last quarter. Lenox Wealth Management Inc. grew its holdings in shares of AT&T by 184.6% during the 3rd quarter. Lenox Wealth Management Inc. now owns 5,769 shares of the technology company’s stock valued at $194,000 after purchasing an additional 3,742 shares during the last quarter. Finally, ELM Advisors LLC bought a new stake in shares of AT&T during the 3rd quarter valued at approximately $195,000. 63.87% of the stock is currently owned by institutional investors and hedge funds.

NYSE:T opened at $30.74 on Thursday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.81 and a current ratio of 0.80. AT&T Inc. has a 52 week low of $26.80 and a 52 week high of $37.81. The firm has a market capitalization of $188.04 billion, a PE ratio of 8.73, a PEG ratio of 1.30 and a beta of 0.54.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, January 30th. The technology company reported $0.86 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.86. AT&T had a net margin of 11.34% and a return on equity of 13.47%. The company had revenue of $47.99 billion for the quarter, compared to analyst estimates of $48.50 billion. During the same period in the prior year, the firm posted $0.78 EPS. The company’s quarterly revenue was up 15.2% on a year-over-year basis. Equities research analysts forecast that AT&T Inc. will post 3.59 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, February 1st. Investors of record on Thursday, January 10th were given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 6.64%. The ex-dividend date of this dividend was Wednesday, January 9th. This is an increase from AT&T’s previous quarterly dividend of $0.50. AT&T’s payout ratio is presently 57.95%.

A number of equities research analysts have weighed in on the stock. Cowen boosted their target price on shares of AT&T from $34.00 to $36.00 in a report on Sunday, December 9th. Bank of America reissued a “buy” rating and set a $37.00 target price on shares of AT&T in a report on Friday, December 14th. Citigroup raised shares of AT&T from a “neutral” rating to a “buy” rating and set a $34.00 target price on the stock in a report on Tuesday, December 11th. Argus reissued a “buy” rating and set a $48.00 target price on shares of AT&T in a report on Friday, October 26th. Finally, Barclays set a $32.00 target price on shares of AT&T and gave the stock a “hold” rating in a report on Friday, January 18th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $35.89.

In other news, CEO John T. Stankey sold 3,748 shares of the stock in a transaction dated Thursday, January 31st. The shares were sold at an average price of $29.84, for a total value of $111,840.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.09% of the company’s stock.

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AT&T Profile

AT&T Inc provides communications and digital entertainment services. The company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility, and International. The Business Solutions segment offers wireless services, strategic services, legacy voice, data services, wireless equipment, and other services to multinational companies, governmental and wholesale customers, and individual subscribers.

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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