CFS Investment Advisory Services LLC Boosts Stake in AT&T Inc. (NYSE:T)

CFS Investment Advisory Services LLC increased its position in AT&T Inc. (NYSE:T) by 6.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,588 shares of the technology company’s stock after buying an additional 1,304 shares during the period. CFS Investment Advisory Services LLC’s holdings in AT&T were worth $497,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV increased its stake in AT&T by 1,379.0% during the second 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 AT&T by 43.3% during the second quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock worth $414,563,000 after acquiring an additional 6,602,586 shares during the last quarter. Bank of New York Mellon Corp increased its stake in AT&T by 7.4% during the second 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 acquiring an additional 5,592,123 shares during the last quarter. Thornburg Investment Management Inc. increased its stake in AT&T by 22.0% during the second quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company’s stock worth $477,528,000 after acquiring an additional 4,511,725 shares during the last quarter. Finally, Jupiter Asset Management Ltd. bought a new stake in AT&T during the second quarter worth approximately $78,570,000. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Stock Up 0.8 %

AT&T stock opened at $23.18 on Friday. The business has a fifty day moving average of $22.02 and a two-hundred day moving average of $19.92. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. The firm has a market cap of $166.29 billion, a P/E ratio of 18.84, a P/E/G ratio of 3.45 and a beta of 0.59. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $23.29.

AT&T (NYSE:T) last posted its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The company had revenue of $30.20 billion during the quarter, compared to analyst estimates of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. AT&T’s revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.64 earnings per share. On average, analysts forecast that AT&T Inc. will post 2.22 earnings per share for the current fiscal 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 issued 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 4.79%. AT&T’s dividend payout ratio is currently 90.24%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on T. Barclays upped 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. Moffett Nathanson upped 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. Daiwa America raised AT&T to a “hold” rating in a research note on Friday, July 26th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $22.00 target price on shares of AT&T in a research note on Thursday, October 24th. Finally, Redburn Atlantic raised AT&T to a “strong sell” rating in a research note on Monday, September 16th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $23.40.

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.