OneAscent Wealth Management LLC Purchases 4,114 Shares of AT&T Inc. (NYSE:T)

OneAscent Wealth Management LLC lifted its stake in AT&T Inc. (NYSE:T) by 17.8% during the third quarter, HoldingsChannel.com reports. The firm owned 27,239 shares of the technology company’s stock after purchasing an additional 4,114 shares during the quarter. OneAscent Wealth Management LLC’s holdings in AT&T were worth $599,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in T. Mercer Global Advisors Inc. ADV raised its holdings in AT&T by 1,379.0% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 14,159,133 shares of the technology company’s stock worth $270,581,000 after acquiring an additional 13,201,774 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of AT&T by 43.3% in the 2nd quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock worth $414,563,000 after purchasing an additional 6,602,586 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in AT&T by 7.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock worth $1,549,375,000 after buying an additional 5,592,123 shares during the period. Thornburg Investment Management Inc. boosted its holdings in AT&T by 22.0% in the 2nd quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company’s stock worth $477,528,000 after buying an additional 4,511,725 shares during the period. Finally, Jupiter Asset Management Ltd. bought a new position in AT&T in the 2nd quarter worth $78,570,000. 57.10% of the stock is owned by institutional investors.

AT&T Stock Up 1.8 %

T traded up $0.41 during trading on Monday, hitting $23.09. The stock had a trading volume of 5,671,373 shares, compared to its average volume of 35,380,988. AT&T Inc. has a twelve month low of $15.85 and a twelve month high of $23.15. The stock has a 50 day simple moving average of $21.89 and a two-hundred day simple moving average of $19.75. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. The company has a market capitalization of $165.68 billion, a PE ratio of 18.44, a PEG ratio of 3.40 and a beta of 0.59.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping 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 business had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. During the same period in the previous year, the firm posted $0.64 earnings per share. The business’s revenue for the quarter was down .5% compared to the same quarter last year. On average, research analysts predict that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were issued a dividend of $0.2775 per share. The ex-dividend date was Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.81%. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

Analyst Ratings Changes

T has been the subject of several research reports. Tigress Financial increased their price objective on shares of AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a report on Friday, September 27th. Scotiabank lowered shares of AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a research report on Monday, September 16th. Citigroup raised their target price on shares of AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Finally, Evercore ISI raised their target price on shares of AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research report on Thursday, October 24th. One equities research 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 company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $23.40.

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.