CreativeOne Wealth LLC Boosts Stock Position in AT&T Inc. (NYSE:T)

CreativeOne Wealth LLC grew its holdings in AT&T Inc. (NYSE:T) by 34.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 148,740 shares of the technology company’s stock after buying an additional 38,444 shares during the quarter. CreativeOne Wealth LLC’s holdings in AT&T were worth $3,272,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in T. Chesapeake Wealth Management boosted its stake 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 acquiring an additional 460 shares during the period. Socha Financial Group LLC boosted its stake in AT&T by 2.5% in the third quarter. Socha Financial Group LLC now owns 18,847 shares of the technology company’s stock valued at $415,000 after acquiring an additional 461 shares during the period. Essex Savings Bank boosted its stake 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. Hayek Kallen Investment Management boosted its stake in AT&T by 0.8% in the third quarter. Hayek Kallen Investment Management now owns 60,271 shares of the technology company’s stock valued at $1,326,000 after acquiring an additional 500 shares during the period. Finally, Aviance Capital Partners LLC boosted its stake in AT&T by 2.1% in the third quarter. Aviance Capital Partners LLC now owns 24,389 shares of the technology company’s stock valued at $537,000 after acquiring an additional 501 shares during the period. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on T. Scotiabank downgraded AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Barclays boosted their price objective on AT&T from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Evercore ISI boosted their price objective on AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research report on Thursday, October 24th. Royal Bank of Canada reiterated a “sector perform” rating and set a $22.00 price objective on shares of AT&T in a research report on Thursday, October 24th. Finally, Hsbc Global Res upgraded AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. One investment 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 stock. Based on data from MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and an average price target of $23.53.

AT&T Stock Performance

T opened at $23.27 on Thursday. The company has a market capitalization of $166.97 billion, a price-to-earnings ratio of 18.92, a price-to-earnings-growth ratio of 3.47 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $23.38. The business has a 50 day moving average price of $22.10 and a two-hundred day moving average price of $20.07.

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, beating the consensus estimate of $0.57 by $0.03. The company had revenue of $30.20 billion for the quarter, compared to analysts’ expectations of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The firm’s revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.64 earnings per share. Research analysts predict that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were issued a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.77%. AT&T’s dividend payout ratio is currently 90.24%.

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.