Firethorn Wealth Partners LLC Acquires Shares of 9,874 AT&T Inc. (NYSE:T)

Firethorn Wealth Partners LLC purchased a new stake in shares of AT&T Inc. (NYSE:T) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 9,874 shares of the technology company’s stock, valued at approximately $217,000.

A number of other large investors have also added to or reduced their stakes in T. Vanguard Group Inc. boosted its stake in shares of AT&T by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 624,994,998 shares of the technology company’s stock worth $10,999,912,000 after acquiring an additional 2,588,539 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in AT&T by 7.4% in the 2nd 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 purchasing an additional 5,592,123 shares during the period. Legal & General Group Plc lifted its position in AT&T by 2.7% during the second quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company’s stock valued at $1,148,689,000 after purchasing an additional 1,569,374 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in AT&T by 2.0% during the second quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock valued at $985,307,000 after purchasing an additional 1,007,228 shares during the period. Finally, LSV Asset Management increased its position in AT&T by 1.1% in the second quarter. LSV Asset Management now owns 30,092,610 shares of the technology company’s stock worth $575,070,000 after buying an additional 315,580 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

T has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft lifted their target price on AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Royal Bank of Canada increased their price objective on shares of AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a report on Thursday, July 25th. Barclays boosted their target price on shares of AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Finally, TD Cowen boosted their price target on shares of AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $22.69.

AT&T Price Performance

T opened at $21.70 on Thursday. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. The business has a fifty day moving average of $20.86 and a 200 day moving average of $18.91. AT&T Inc. has a 52-week low of $14.28 and a 52-week high of $22.34. The stock has a market cap of $155.59 billion, a P/E ratio of 11.67, a PEG ratio of 3.62 and a beta of 0.60.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.57. The firm had revenue of $29.80 billion during the quarter, compared to analyst estimates of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. AT&T’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.63 earnings per share. As a group, sell-side analysts anticipate that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be paid a dividend of $0.2775 per share. The ex-dividend date is Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.12%. AT&T’s dividend payout ratio is presently 59.68%.

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.