Commerce Bank Purchases 3,921 Shares of AT&T Inc. (NYSE:T)

Commerce Bank increased its holdings in AT&T Inc. (NYSE:T) by 0.9% in the third quarter, Holdings Channel reports. The fund owned 440,927 shares of the technology company’s stock after purchasing an additional 3,921 shares during the quarter. Commerce Bank’s holdings in AT&T were worth $9,700,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Covestor Ltd lifted its position in shares of AT&T by 30.3% during the first quarter. Covestor Ltd now owns 2,678 shares of the technology company’s stock valued at $48,000 after buying an additional 622 shares during the last quarter. EP Wealth Advisors LLC boosted its stake in AT&T by 7.8% in the first quarter. EP Wealth Advisors LLC now owns 109,610 shares of the technology company’s stock valued at $1,929,000 after acquiring an additional 7,944 shares in the last quarter. Westwood Holdings Group Inc. grew its holdings in AT&T by 493.7% in the first quarter. Westwood Holdings Group Inc. now owns 123,987 shares of the technology company’s stock worth $2,182,000 after purchasing an additional 103,102 shares during the last quarter. Gabelli Funds LLC increased its position in shares of AT&T by 11.7% during the first quarter. Gabelli Funds LLC now owns 332,900 shares of the technology company’s stock worth $5,859,000 after purchasing an additional 35,000 shares in the last quarter. Finally, 1832 Asset Management L.P. lifted its holdings in shares of AT&T by 70.1% during the 1st quarter. 1832 Asset Management L.P. now owns 2,375 shares of the technology company’s stock valued at $42,000 after purchasing an additional 979 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Oppenheimer upped their target price on AT&T from $23.00 to $24.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. TD Cowen upped their target price on AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Scotiabank cut AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. Finally, Tigress Financial lifted their price objective on AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, September 27th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $23.40.

AT&T Trading Up 0.9 %

Shares of NYSE:T opened at $23.03 on Friday. The business’s 50 day moving average price is $21.99 and its 200-day moving average price is $19.88. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $23.20. The firm has a market capitalization of $165.21 billion, a price-to-earnings ratio of 18.72, a price-to-earnings-growth ratio of 3.41 and a beta of 0.59. 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 (NYSE:T) last announced its 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 business had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. During the same quarter last year, the business earned $0.64 earnings per share. The company’s revenue for the quarter was down .5% compared to the same quarter last year. On average, equities research analysts forecast that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.82%. The ex-dividend date was Thursday, October 10th. AT&T’s dividend payout ratio is presently 90.24%.

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.