AT&T Inc. (NYSE:T) Shares Bought by Meadow Creek Wealth Advisors LLC

Meadow Creek Wealth Advisors LLC grew its position in shares of AT&T Inc. (NYSE:T) by 2.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 21,717 shares of the technology company’s stock after acquiring an additional 612 shares during the period. Meadow Creek Wealth Advisors LLC’s holdings in AT&T were worth $478,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in T. AdvisorNet Financial Inc boosted its position in shares of AT&T by 12.3% in the first quarter. AdvisorNet Financial Inc now owns 20,002 shares of the technology company’s stock worth $352,000 after buying an additional 2,186 shares during the period. Global Assets Advisory LLC purchased a new stake in shares of AT&T in the first quarter worth about $2,436,000. Annex Advisory Services LLC boosted its position in shares of AT&T by 30.0% in the first quarter. Annex Advisory Services LLC now owns 20,299 shares of the technology company’s stock worth $357,000 after buying an additional 4,679 shares during the period. Dynamic Advisor Solutions LLC boosted its position in shares of AT&T by 1.1% in the first quarter. Dynamic Advisor Solutions LLC now owns 174,890 shares of the technology company’s stock worth $3,078,000 after buying an additional 1,938 shares during the period. Finally, RMR Wealth Builders purchased a new stake in shares of AT&T in the first quarter worth about $196,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Up 1.7 %

Shares of AT&T stock opened at $21.86 on Wednesday. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. The business’s 50 day simple moving average is $21.03 and its 200-day simple moving average is $19.04. The stock has a market capitalization of $156.74 billion, a price-to-earnings ratio of 12.36, a PEG ratio of 3.73 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, hitting analysts’ consensus estimates of $0.57. The business had revenue of $29.80 billion for the quarter, compared to analysts’ expectations of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The business’s quarterly revenue was down .3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.63 EPS. Equities research analysts forecast that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders 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 dividend yield of 5.08%. The ex-dividend date of this dividend is Thursday, October 10th. AT&T’s payout ratio is 63.79%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on T shares. Wells Fargo & Company upped their target price on AT&T from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. The Goldman Sachs Group started coverage on AT&T in a research report on Monday, July 1st. They issued a “buy” rating and a $22.00 target price for the company. Royal Bank of Canada upped their target price on AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 25th. Tigress Financial increased their price target on AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a report on Friday, September 27th. Finally, Evercore ISI increased their price target on AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a report on Thursday, July 25th. One 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 company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $22.69.

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.