Ritter Daniher Financial Advisory LLC DE Grows Stock Holdings in AT&T Inc. (NYSE:T)

Ritter Daniher Financial Advisory LLC DE grew its holdings in AT&T Inc. (NYSE:T) by 169.2% during the third quarter, HoldingsChannel.com reports. The fund owned 1,338 shares of the technology company’s stock after purchasing an additional 841 shares during the quarter. Ritter Daniher Financial Advisory LLC DE’s holdings in AT&T were worth $29,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Davidson Kempner Capital Management LP purchased a new stake in shares of AT&T during the second quarter valued at approximately $23,888,000. Talbot Financial LLC purchased a new stake in AT&T during the 3rd quarter worth $7,438,000. Mackenzie Financial Corp lifted its holdings in AT&T by 12.2% in the 2nd quarter. Mackenzie Financial Corp now owns 2,641,856 shares of the technology company’s stock worth $50,486,000 after buying an additional 288,093 shares in the last quarter. DRW Securities LLC lifted its holdings in AT&T by 642.2% in the 2nd quarter. DRW Securities LLC now owns 104,309 shares of the technology company’s stock worth $1,997,000 after buying an additional 90,255 shares in the last quarter. Finally, Van ECK Associates Corp boosted its position in AT&T by 7.2% in the 3rd quarter. Van ECK Associates Corp now owns 396,958 shares of the technology company’s stock valued at $8,928,000 after buying an additional 26,706 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Trading Up 1.9 %

NYSE:T opened at $22.68 on Friday. The firm has a market capitalization of $162.74 billion, a P/E ratio of 18.44, a P/E/G ratio of 3.40 and a beta of 0.59. The business has a 50 day simple moving average of $21.89 and a 200 day simple moving average of $19.73. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. AT&T Inc. has a 12-month low of $15.75 and a 12-month high of $22.75.

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

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were given a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.89%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is 90.24%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. JPMorgan Chase & Co. boosted their price target on AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Barclays increased their target price on AT&T from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Redburn Atlantic upgraded shares of AT&T to a “strong sell” rating in a research note on Monday, September 16th. Royal Bank of Canada reiterated a “sector perform” rating and set a $22.00 price objective on shares of AT&T in a research note on Thursday, October 24th. Finally, Tigress Financial raised their price objective on shares of AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, September 27th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $23.40.

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.