Safe Harbor Fiduciary LLC Invests $35,000 in AT&T Inc. (NYSE:T)

Safe Harbor Fiduciary LLC bought a new stake in shares of AT&T Inc. (NYSE:T) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,575 shares of the technology company’s stock, valued at approximately $35,000.

Several other institutional investors also recently bought and sold shares of the stock. Strategic Financial Concepts LLC raised its position in AT&T by 227.6% during the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after purchasing an additional 91,578 shares during the last quarter. Riggs Asset Managment Co. Inc. raised its position in AT&T by 356.5% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after purchasing an additional 1,116 shares during the last quarter. 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 during the last quarter. American Capital Advisory LLC raised its position in AT&T by 107.5% during 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 during the last quarter. Finally, Altshuler Shaham Ltd bought a new position in AT&T during the 2nd quarter valued at approximately $30,000. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Stock Performance

Shares of NYSE:T opened at $23.55 on Thursday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. The firm has a market cap of $168.94 billion, a PE ratio of 19.14, a price-to-earnings-growth ratio of 3.56 and a beta of 0.59. The firm’s 50 day simple moving average is $22.28 and its 200-day simple moving average is $20.28. AT&T Inc. has a one year low of $15.94 and a one year high of $24.03.

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

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors 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 annualized dividend and a dividend yield of 4.71%. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

Analyst Ratings Changes

T has been the subject of several research reports. Redburn Atlantic raised AT&T to a “strong sell” rating in a research report on Monday, September 16th. 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. Wells Fargo & Company reduced their price objective on AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Tigress Financial raised their price objective on AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Finally, New Street Research raised AT&T from a “neutral” rating to a “buy” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, AT&T presently has an average rating of “Moderate Buy” and a consensus target price of $24.07.

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.