Icon Wealth Advisors LLC Raises Holdings in AT&T Inc. (NYSE:T)

Icon Wealth Advisors LLC grew its stake in AT&T Inc. (NYSE:T) by 20.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 61,330 shares of the technology company’s stock after buying an additional 10,281 shares during the quarter. Icon Wealth Advisors LLC’s holdings in AT&T were worth $1,349,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Suvretta Capital Management LLC increased its holdings in AT&T by 4.5% in the third quarter. Suvretta Capital Management LLC now owns 2,285,336 shares of the technology company’s stock valued at $50,277,000 after buying an additional 98,450 shares during the last quarter. Teachers Insurance & Annuity Association of America purchased a new stake in AT&T during the 3rd quarter worth about $145,000. Vinva Investment Management Ltd boosted its position in shares of AT&T by 4.1% during the 3rd quarter. Vinva Investment Management Ltd now owns 330,387 shares of the technology company’s stock worth $7,235,000 after acquiring an additional 13,026 shares in the last quarter. Public Sector Pension Investment Board increased its holdings in shares of AT&T by 1.1% in the 3rd quarter. Public Sector Pension Investment Board now owns 3,201,214 shares of the technology company’s stock valued at $70,427,000 after acquiring an additional 34,400 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of AT&T by 15.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,606,959 shares of the technology company’s stock worth $101,353,000 after acquiring an additional 624,304 shares in the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on T shares. Oppenheimer increased their price target on shares of AT&T from $23.00 to $24.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Citigroup increased their target price on shares of AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday. Wells Fargo & Company reduced their price target on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Moffett Nathanson raised their price objective on AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Finally, Barclays boosted their target price on AT&T from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. 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 given a strong buy rating to the company. According to data from MarketBeat.com, AT&T presently 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. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $23.38. 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. 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.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 EPS 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 company had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. During the same quarter in the prior year, the firm earned $0.64 EPS. AT&T’s quarterly revenue was down .5% on a year-over-year basis. Equities analysts anticipate 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 given a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.79%. 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.