AT&T Inc. (NYSE:T) Shares Purchased by L.M. Kohn & Company

L.M. Kohn & Company raised its stake in shares of AT&T Inc. (NYSE:T) by 47.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,693 shares of the technology company’s stock after acquiring an additional 9,278 shares during the period. L.M. Kohn & Company’s holdings in AT&T were worth $631,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of T. Mercer Global Advisors Inc. ADV grew its position in AT&T by 1,379.0% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 14,159,133 shares of the technology company’s stock valued at $270,581,000 after acquiring an additional 13,201,774 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of AT&T by 43.3% in the 2nd quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock valued at $414,563,000 after buying an additional 6,602,586 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of 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 valued at $1,549,375,000 after buying an additional 5,592,123 shares during the period. Thornburg Investment Management Inc. boosted its stake in shares of AT&T by 22.0% in the 2nd quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company’s stock valued at $477,528,000 after buying an additional 4,511,725 shares during the period. Finally, Jupiter Asset Management Ltd. purchased a new position in shares of AT&T in the 2nd quarter valued at about $78,570,000. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Redburn Atlantic upgraded AT&T to a “strong sell” rating in a research note on Monday, September 16th. Hsbc Global Res upgraded AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Wells Fargo & Company decreased their target price on AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Scotiabank cut AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Finally, Citigroup boosted their target price on AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.53.

AT&T Trading Down 0.5 %

NYSE:T opened at $23.16 on Friday. The firm has a market cap of $166.18 billion, a P/E ratio of 18.83, a PEG ratio of 3.49 and a beta of 0.59. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The stock’s 50 day simple moving average is $22.17 and its 200-day simple moving average is $20.13. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $23.38.

AT&T (NYSE:T) last released its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The business had revenue of $30.20 billion for 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%. The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 earnings per share. Equities analysts anticipate that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.79%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s payout ratio is currently 90.24%.

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.