Asset Allocation Strategies LLC Grows Position in AT&T Inc. (NYSE:T)

Asset Allocation Strategies LLC boosted its stake in shares of AT&T Inc. (NYSE:T) by 22.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,163 shares of the technology company’s stock after acquiring an additional 2,429 shares during the period. Asset Allocation Strategies LLC’s holdings in AT&T were worth $290,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of T. Strategic Financial Concepts LLC increased its stake in AT&T by 227.6% during the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $25,000 after acquiring an additional 91,578 shares during the last quarter. Legacy Investment Solutions LLC bought a new stake in AT&T in the third quarter worth $25,000. Riggs Asset Managment Co. Inc. boosted its stake in AT&T by 356.5% during the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after buying an additional 1,116 shares during the period. Ritter Daniher Financial Advisory LLC DE increased its position in AT&T by 169.2% during the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after acquiring an additional 841 shares during the last quarter. Finally, American Capital Advisory LLC lifted its holdings 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 worth $30,000 after acquiring an additional 807 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors.

AT&T Price Performance

NYSE T opened at $23.53 on Wednesday. The firm’s fifty day simple moving average is $22.39 and its two-hundred day simple moving average is $20.43. The firm has a market capitalization of $168.80 billion, a P/E ratio of 19.13, a P/E/G ratio of 3.63 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. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $24.03.

AT&T (NYSE:T) last announced its 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. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The company had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. During the same period in the prior year, the company posted $0.64 EPS. The firm’s quarterly revenue was down .5% compared to the same quarter last year. Analysts forecast that AT&T Inc. will post 2.19 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were given a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.72%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s payout ratio is 90.24%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on T. Citigroup upped their price target on shares of AT&T from $26.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. boosted their price objective on AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Moffett Nathanson lifted their target price on AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Wells Fargo & Company cut their price target on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Finally, Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.00.

About AT&T

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.