Investmark Advisory Group LLC Increases Stock Position in AT&T Inc. (NYSE:T)

Investmark Advisory Group LLC lifted its position in AT&T Inc. (NYSE:T) by 2.7% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 139,057 shares of the technology company’s stock after acquiring an additional 3,635 shares during the period. AT&T comprises about 1.5% of Investmark Advisory Group LLC’s investment portfolio, making the stock its 21st biggest holding. Investmark Advisory Group LLC’s holdings in AT&T were worth $3,059,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the company. Chesapeake Wealth Management lifted its position in AT&T by 1.9% in the third quarter. Chesapeake Wealth Management now owns 24,304 shares of the technology company’s stock valued at $535,000 after buying an additional 460 shares during the last quarter. Socha Financial Group LLC boosted its holdings in AT&T by 2.5% in the 3rd quarter. Socha Financial Group LLC now owns 18,847 shares of the technology company’s stock valued at $415,000 after purchasing an additional 461 shares in the last quarter. Garden State Investment Advisory Services LLC increased its position in AT&T by 1.4% during the 3rd quarter. Garden State Investment Advisory Services LLC now owns 34,468 shares of the technology company’s stock worth $759,000 after purchasing an additional 468 shares during the period. Essex Savings Bank lifted its holdings in AT&T by 2.3% in the third quarter. Essex Savings Bank now owns 21,636 shares of the technology company’s stock valued at $476,000 after acquiring an additional 480 shares during the period. Finally, Hayek Kallen Investment Management boosted its holdings in AT&T by 0.8% during the third quarter. Hayek Kallen Investment Management now owns 60,271 shares of the technology company’s stock worth $1,326,000 after buying an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Trading Up 2.5 %

AT&T stock opened at $23.27 on Tuesday. AT&T Inc. has a 12 month low of $15.94 and a 12 month high of $23.38. The stock has a market cap of $166.97 billion, a price-to-earnings ratio of 18.46, a price-to-earnings-growth ratio of 3.48 and a beta of 0.59. The business has a 50 day moving average price of $22.17 and a two-hundred day moving average price of $20.17. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09.

AT&T (NYSE:T) last posted its quarterly 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. 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 in the previous year, the company earned $0.64 earnings per share. The business’s revenue was down .5% compared to the same quarter last year. As a group, equities analysts forecast that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The firm also recently declared 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. This represents a $1.11 dividend on an annualized basis and a yield of 4.77%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s dividend payout ratio is 90.24%.

Analyst Upgrades and Downgrades

T has been the subject of a number of recent analyst reports. Citigroup lifted their price objective on AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Scotiabank downgraded shares of AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Evercore ISI upped their price objective on AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research note on Thursday, October 24th. Wells Fargo & Company cut their price objective on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Finally, Barclays raised their target price on shares of AT&T from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $23.53.

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.