Hollow Brook Wealth Management LLC Buys Shares of 9,408 AT&T Inc. (NYSE:T)

Hollow Brook Wealth Management LLC acquired a new position in AT&T Inc. (NYSE:T) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 9,408 shares of the technology company’s stock, valued at approximately $207,000.

A number of other large investors have also recently modified their holdings of the business. Strategic Financial Concepts LLC boosted its holdings in shares of AT&T by 227.6% in the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $25,000 after purchasing an additional 91,578 shares in the last quarter. Riggs Asset Managment Co. Inc. raised its stake in shares of 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 worth $27,000 after acquiring an additional 1,116 shares in the last quarter. Ritter Daniher Financial Advisory LLC DE lifted its holdings in shares of AT&T by 169.2% in the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after acquiring an additional 841 shares during the last quarter. American Capital Advisory LLC boosted its stake in shares of AT&T by 107.5% in the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after purchasing an additional 807 shares in the last quarter. Finally, Altshuler Shaham Ltd bought a new position in shares of AT&T during the 2nd quarter valued at $30,000. Institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

T has been the subject of a number of recent research reports. Moffett Nathanson boosted their target price on AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. Oppenheimer boosted their price target on shares of AT&T from $23.00 to $24.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Royal Bank of Canada reissued a “sector perform” rating and issued a $22.00 target price on shares of AT&T in a research report on Thursday, October 24th. Redburn Atlantic upgraded AT&T to a “strong sell” rating in a research report on Monday, September 16th. Finally, Barclays increased their price objective on AT&T from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $23.53.

AT&T Trading Down 0.1 %

AT&T stock opened at $23.13 on Monday. AT&T Inc. has a one year low of $15.94 and a one year high of $23.38. The business’s fifty day moving average is $22.17 and its 200 day moving average is $20.17. The stock has a market capitalization of $165.96 billion, a PE ratio of 18.83, a price-to-earnings-growth ratio of 3.48 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 quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The firm had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. During the same quarter last year, the firm posted $0.64 EPS. The business’s quarterly revenue was down .5% compared to the same quarter last year. On average, sell-side analysts predict that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were paid a dividend of $0.2775 per share. The ex-dividend date was Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.80%. AT&T’s dividend payout ratio is presently 90.24%.

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.