Friedenthal Financial Buys Shares of 35,331 AT&T Inc. (NYSE:T)

Friedenthal Financial acquired a new stake in AT&T Inc. (NYSE:T) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 35,331 shares of the technology company’s stock, valued at approximately $777,000.

Other institutional investors have also recently bought and sold shares of the company. Riggs Asset Managment Co. Inc. grew its stake in shares of AT&T by 356.5% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after acquiring an additional 1,116 shares in the last quarter. American Capital Advisory LLC grew its holdings in AT&T by 107.5% during the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after acquiring an additional 807 shares during the last quarter. Altshuler Shaham Ltd bought a new position in AT&T during the 2nd quarter worth $30,000. Marquette Asset Management LLC acquired a new position in shares of AT&T in the third quarter worth approximately $36,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in shares of AT&T by 176.6% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock valued at $35,000 after purchasing an additional 1,192 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 0.6 %

T opened at $21.85 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. The company has a 50-day moving average price of $20.95 and a 200 day moving average price of $18.96. The company has a market cap of $156.67 billion, a PE ratio of 11.75, a price-to-earnings-growth ratio of 3.63 and a beta of 0.60. AT&T Inc. has a twelve month low of $14.74 and a twelve month high of $22.34.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The business had revenue of $29.80 billion during the quarter, compared to analysts’ expectations of $30.05 billion. During the same period last year, the business earned $0.63 earnings per share. The business’s revenue for the quarter was down .3% on a year-over-year basis. Sell-side analysts expect that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 5.08%. The ex-dividend date of this dividend is Thursday, October 10th. AT&T’s payout ratio is 59.68%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Barclays lifted their price objective on AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Scotiabank downgraded shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Wells Fargo & Company boosted their price target on shares of AT&T from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Finally, Evercore ISI upped their price target on shares of AT&T from $18.00 to $19.00 and gave the company an “in-line” 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 assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.69.

About AT&T

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.