Heritage Oak Wealth Advisors LLC Buys Shares of 40,308 AT&T Inc. (NYSE:T)

Heritage Oak Wealth Advisors LLC purchased a new position in AT&T Inc. (NYSE:T) during the third quarter, Holdings Channel.com reports. The firm purchased 40,308 shares of the technology company’s stock, valued at approximately $887,000.

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

AT&T Stock Down 0.1 %

T traded down $0.02 during trading on Friday, reaching $22.18. The company had a trading volume of 7,311,477 shares, compared to its average volume of 35,623,570. The business’s fifty day moving average price is $21.15 and its 200 day moving average price is $19.08. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. AT&T Inc. has a 12 month low of $14.74 and a 12 month high of $22.58. The company has a market cap of $159.04 billion, a P/E ratio of 12.76, a PEG ratio of 3.67 and a beta of 0.60.

AT&T (NYSE:T) last released its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The firm had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The company’s revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.64 EPS. Equities analysts anticipate that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.00%. AT&T’s dividend payout ratio (DPR) is presently 63.79%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on T shares. TD Cowen lifted their price target on shares of AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a report on Thursday, July 25th. The Goldman Sachs Group started coverage on AT&T in a report on Monday, July 1st. They issued a “buy” rating and a $22.00 target price on the stock. Redburn Atlantic upgraded AT&T to a “strong sell” rating in a research report on Monday, September 16th. Evercore ISI raised their target price on AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research note on Thursday. Finally, Tigress Financial boosted their price objective on shares of AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, AT&T currently has an average rating of “Moderate Buy” and a consensus target price of $23.40.

AT&T Company 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.