Hengehold Capital Management LLC Acquires New Stake in AT&T Inc. (NYSE:T)

Hengehold Capital Management LLC bought a new position in AT&T Inc. (NYSE:T) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 12,526 shares of the technology company’s stock, valued at approximately $276,000.

Several other institutional investors and hedge funds have also made changes to their positions in T. Fisher Asset Management LLC increased its holdings in AT&T by 29.4% during the 4th quarter. Fisher Asset Management LLC now owns 130,844 shares of the technology company’s stock worth $2,196,000 after purchasing an additional 29,757 shares during the period. Massmutual Trust Co. FSB ADV increased its stake in shares of AT&T by 7.5% during the first quarter. Massmutual Trust Co. FSB ADV now owns 29,340 shares of the technology company’s stock valued at $516,000 after buying an additional 2,036 shares during the period. Signal Advisors Wealth LLC bought a new stake in shares of AT&T in the first quarter valued at about $240,000. Wedmont Private Capital lifted its stake in AT&T by 5.9% in the first quarter. Wedmont Private Capital now owns 55,360 shares of the technology company’s stock worth $936,000 after acquiring an additional 3,060 shares during the period. Finally, American National Bank grew its holdings in AT&T by 12.5% during the 1st quarter. American National Bank now owns 36,704 shares of the technology company’s stock worth $646,000 after acquiring an additional 4,082 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on T. Redburn Atlantic upgraded shares of AT&T to a “strong sell” rating in a report on Monday, September 16th. Hsbc Global Res upgraded AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. Royal Bank of Canada lifted their price target on AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a report on Thursday, July 25th. Evercore ISI upped their price objective on AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a research note on Thursday, July 25th. Finally, Barclays raised their price objective on AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, AT&T currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.69.

AT&T Price Performance

Shares of T opened at $21.74 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. The company’s fifty day moving average price is $20.90 and its 200-day moving average price is $18.93. AT&T Inc. has a 1-year low of $14.31 and a 1-year high of $22.34. The firm has a market capitalization of $155.84 billion, a PE ratio of 11.69, a price-to-earnings-growth ratio of 3.63 and a beta of 0.60.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, meeting the consensus estimate of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The business had revenue of $29.80 billion for the quarter, compared to the consensus estimate of $30.05 billion. During the same quarter in the previous year, the business earned $0.63 EPS. The company’s quarterly revenue was down .3% compared to the same quarter last year. On average, equities research analysts predict that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 5.11%. The ex-dividend date of this dividend is Thursday, October 10th. AT&T’s dividend payout ratio is presently 59.68%.

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.