Chicago Partners Investment Group LLC Grows Stock Holdings in AT&T Inc. (NYSE:T)

Chicago Partners Investment Group LLC grew its holdings in AT&T Inc. (NYSE:T) by 8.2% during the third quarter, HoldingsChannel.com reports. The fund owned 56,156 shares of the technology company’s stock after purchasing an additional 4,244 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in AT&T were worth $1,263,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in T. Hayek Kallen Investment Management increased its stake in AT&T by 0.8% in the third quarter. Hayek Kallen Investment Management now owns 60,271 shares of the technology company’s stock valued at $1,326,000 after acquiring an additional 500 shares during the period. Lake Street Advisors Group LLC grew its stake in shares of AT&T by 0.7% in the 3rd quarter. Lake Street Advisors Group LLC now owns 73,562 shares of the technology company’s stock valued at $1,618,000 after purchasing an additional 513 shares during the period. Octavia Wealth Advisors LLC raised its holdings in shares of AT&T by 2.1% in the 2nd quarter. Octavia Wealth Advisors LLC now owns 25,313 shares of the technology company’s stock worth $484,000 after buying an additional 519 shares in the last quarter. Carolinas Wealth Consulting LLC lifted its position in shares of AT&T by 2.3% during the 2nd quarter. Carolinas Wealth Consulting LLC now owns 23,650 shares of the technology company’s stock worth $452,000 after buying an additional 521 shares during the period. Finally, WealthCare Investment Partners LLC boosted its stake in AT&T by 2.2% in the 2nd quarter. WealthCare Investment Partners LLC now owns 24,138 shares of the technology company’s stock valued at $461,000 after buying an additional 525 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Performance

AT&T stock opened at $22.12 on Monday. The company has a market cap of $158.72 billion, a PE ratio of 17.98, a PEG ratio of 3.38 and a beta of 0.59. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. AT&T Inc. has a 1 year low of $15.46 and a 1 year high of $22.73. The company’s 50-day moving average is $21.47 and its two-hundred day moving average is $19.36.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.03. The business had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. AT&T’s revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.64 earnings per share. Equities analysts anticipate that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were paid a dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.02%. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on T shares. Redburn Atlantic raised AT&T to a “strong sell” rating in a report on Monday, September 16th. Royal Bank of Canada restated a “sector perform” rating and issued a $22.00 price target on shares of AT&T in a research report on Thursday, October 24th. TD Cowen upped their price objective on shares of AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Citigroup lifted their target price on shares of AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Finally, Barclays increased their price target on AT&T from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus 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.