Truvestments Capital LLC Acquires 1,878 Shares of AT&T Inc. (NYSE:T)

Truvestments Capital LLC raised its holdings in AT&T Inc. (NYSE:T) by 14.9% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,454 shares of the technology company’s stock after acquiring an additional 1,878 shares during the quarter. Truvestments Capital LLC’s holdings in AT&T were worth $318,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ritter Daniher Financial Advisory LLC DE raised its position in AT&T by 169.2% during the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after purchasing an additional 841 shares in the last quarter. Riggs Asset Managment Co. Inc. increased 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 valued at $27,000 after buying an additional 1,116 shares during the period. American Capital Advisory LLC raised its holdings in shares of AT&T by 107.5% in the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after acquiring an additional 807 shares in the last quarter. Reston Wealth Management LLC purchased a new stake in AT&T in the third quarter worth about $35,000. Finally, Altshuler Shaham Ltd bought a new position in AT&T during the 2nd quarter worth about $30,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Scotiabank cut shares of AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Wells Fargo & Company lowered their target price on AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Evercore ISI increased their target price on AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research report on Thursday, October 24th. Citigroup boosted their price target on AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Finally, Redburn Atlantic raised 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, eight have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $23.40.

AT&T Trading Down 0.3 %

AT&T stock opened at $23.10 on Tuesday. The firm has a market cap of $165.75 billion, a PE ratio of 18.78, a P/E/G ratio of 3.48 and a beta of 0.59. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $23.32. The stock’s 50 day simple moving average is $22.04 and its two-hundred day simple moving average is $20.00. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The firm had revenue of $30.20 billion during the quarter, compared to analyst estimates of $30.50 billion. During the same quarter in the previous year, the business earned $0.64 EPS. AT&T’s revenue for the quarter was down .5% compared to the same quarter last year. Analysts anticipate that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Dividend Announcement

The company 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 of this dividend was Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.81%. AT&T’s payout ratio is currently 90.24%.

AT&T 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.