12,559 Shares in AT&T Inc. (NYSE:T) Purchased by Shore Point Advisors LLC

Shore Point Advisors LLC bought a new stake in shares of AT&T Inc. (NYSE:T) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 12,559 shares of the technology company’s stock, valued at approximately $276,000.

A number of other large investors also recently added to or reduced their stakes in T. Davidson Kempner Capital Management LP bought a new position in AT&T during the second quarter valued at approximately $23,888,000. Talbot Financial LLC purchased a new position in shares of AT&T in the third quarter valued at $7,438,000. Mackenzie Financial Corp increased its position in AT&T by 12.2% in the second quarter. Mackenzie Financial Corp now owns 2,641,856 shares of the technology company’s stock worth $50,486,000 after purchasing an additional 288,093 shares during the last quarter. DRW Securities LLC raised its stake in AT&T by 642.2% during the second quarter. DRW Securities LLC now owns 104,309 shares of the technology company’s stock valued at $1,997,000 after purchasing an additional 90,255 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in AT&T by 4.3% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 1,037,529 shares of the technology company’s stock valued at $19,827,000 after purchasing an additional 43,062 shares in the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Stock Up 0.7 %

T stock opened at $21.37 on Friday. The firm’s fifty day moving average is $20.71 and its 200 day moving average is $18.83. The firm has a market cap of $153.23 billion, a PE ratio of 12.28, a P/E/G ratio of 3.74 and a beta of 0.60. AT&T Inc. has a one year low of $14.23 and a one year high of $22.34. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The business had revenue of $29.80 billion for the quarter, compared to the consensus estimate of $30.05 billion. During the same period last year, the firm posted $0.63 earnings per share. The company’s revenue was down .3% compared to the same quarter last year. On average, research analysts forecast that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be given a $0.2775 dividend. The ex-dividend date is Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.19%. AT&T’s dividend payout ratio (DPR) is presently 63.79%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. The Goldman Sachs Group initiated coverage on AT&T in a research note on Monday, July 1st. They issued a “buy” rating and a $22.00 price objective for the company. Scotiabank lowered shares of AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Oppenheimer increased their target price on shares of AT&T from $21.00 to $23.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Tigress Financial lifted their price target on shares of AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Finally, Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a research report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $22.38.

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.