Keudell Morrison Wealth Management Has $2.01 Million Stock Position in AT&T Inc. (NYSE:T)

Keudell Morrison Wealth Management raised its position in AT&T Inc. (NYSE:T) by 9.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 91,433 shares of the technology company’s stock after purchasing an additional 7,531 shares during the period. Keudell Morrison Wealth Management’s holdings in AT&T were worth $2,012,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Riggs Asset Managment Co. Inc. grew its stake in shares of AT&T by 356.5% in 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 period. American Capital Advisory LLC grew its stake in shares of AT&T by 107.5% in 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 period. Reston Wealth Management LLC bought a new stake in shares of AT&T in the 3rd quarter valued at approximately $35,000. Altshuler Shaham Ltd bought a new stake in shares of AT&T in the 2nd quarter valued at approximately $30,000. Finally, Marquette Asset Management LLC bought a new stake in shares of AT&T in the 3rd quarter valued at approximately $36,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Performance

NYSE T traded down $0.32 during trading on Thursday, reaching $22.00. 3,649,559 shares of the company’s stock were exchanged, compared to its average volume of 35,523,813. The business has a 50 day moving average price of $21.61 and a 200-day moving average price of $19.46. The stock has a market capitalization of $157.86 billion, a P/E ratio of 18.15, a PEG ratio of 3.29 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 fifty-two week low of $15.46 and a fifty-two week high of $22.73.

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

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 5.05%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on T. Moffett Nathanson upped their price objective on AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. Tigress Financial increased their price target on AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Royal Bank of Canada restated a “sector perform” rating and set a $22.00 price target on shares of AT&T in a research report on Thursday, October 24th. Barclays increased their price target on AT&T from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Finally, Wells Fargo & Company decreased their price target on AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, AT&T presently has an average rating of “Moderate Buy” and a consensus target price of $23.40.

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.