Baystate Wealth Management LLC Boosts Stock Holdings in AT&T Inc. (NYSE:T)

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Baystate Wealth Management LLC raised its stake in AT&T Inc. (NYSE:T) by 58.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,984 shares of the technology company’s stock after purchasing an additional 5,157 shares during the quarter. Baystate Wealth Management LLC’s holdings in AT&T were worth $399,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in T. Jaffetilchin Investment Partners LLC lifted its stake in shares of AT&T by 10.4% in the 2nd quarter. Jaffetilchin Investment Partners LLC now owns 13,206 shares of the technology company’s stock valued at $37,000 after purchasing an additional 1,248 shares in the last quarter. NWK Group Inc. purchased a new position in AT&T in the second quarter valued at approximately $65,000. JJJ Advisors Inc. lifted its position in AT&T by 212.3% during the second quarter. JJJ Advisors Inc. now owns 2,217 shares of the technology company’s stock valued at $67,000 after buying an additional 1,507 shares in the last quarter. Provident Wealth Management LLC purchased a new stake in AT&T during the third quarter worth approximately $70,000. Finally, Litman Gregory Asset Management LLC grew its stake in AT&T by 844.0% during the second quarter. Litman Gregory Asset Management LLC now owns 2,983 shares of the technology company’s stock worth $90,000 after buying an additional 2,667 shares during the period. 52.29% of the stock is owned by institutional investors.

NYSE:T opened at $27.33 on Friday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market capitalization of $194.73 billion, a price-to-earnings ratio of 16.77, a price-to-earnings-growth ratio of 1.64 and a beta of 0.69. AT&T Inc. has a one year low of $26.08 and a one year high of $39.70. The stock has a 50-day simple moving average of $28.84 and a 200 day simple moving average of $29.74.

AT&T (NYSE:T) last released its earnings results on Thursday, July 23rd. The technology company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.04. AT&T had a return on equity of 13.03% and a net margin of 6.84%. The company had revenue of $40.95 billion for the quarter, compared to the consensus estimate of $40.87 billion. During the same quarter last year, the business posted $0.89 EPS. AT&T’s quarterly revenue was down 8.9% compared to the same quarter last year. On average, equities research analysts forecast that AT&T Inc. will post 3.21 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Monday, October 12th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 7.61%. The ex-dividend date of this dividend is Thursday, October 8th. AT&T’s dividend payout ratio is presently 58.26%.

In other AT&T news, Director Stephen J. Luczo bought 100,000 shares of the stock in a transaction on Thursday, July 23rd. The stock was purchased at an average price of $29.69 per share, for a total transaction of $2,969,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.07% of the company’s stock.

Several research firms recently weighed in on T. KeyCorp lowered shares of AT&T from a “sector weight” rating to an “underweight” rating and set a $25.00 target price on the stock. in a report on Monday, October 5th. Deutsche Bank Aktiengesellschaft reduced their price objective on AT&T from $38.00 to $37.00 and set a “buy” rating on the stock in a research note on Tuesday, August 4th. Morgan Stanley decreased their target price on AT&T from $38.00 to $36.00 and set an “overweight” rating for the company in a research report on Wednesday, July 1st. Scotiabank downgraded AT&T from a “sector perform” rating to a “sector underperform” rating and dropped their target price for the company from $34.00 to $30.00 in a report on Monday, August 31st. Finally, Royal Bank of Canada upped their price target on AT&T from $24.00 to $25.00 and gave the stock an “outperform” rating in a report on Monday, August 3rd. Six investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $33.56.

About AT&T

AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.

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

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