AT&T Inc. (NYSE:T) Shares Purchased by Avestar Capital LLC

Avestar Capital LLC grew its position in AT&T Inc. (NYSE:T) by 10.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,892 shares of the technology company’s stock after purchasing an additional 3,556 shares during the quarter. Avestar Capital LLC’s holdings in AT&T were worth $812,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Strategic Financial Concepts LLC raised its holdings 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 purchasing an additional 91,578 shares in the last quarter. Riggs Asset Managment Co. Inc. grew its position 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 buying an additional 1,116 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE raised its stake in AT&T by 169.2% during the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after acquiring an additional 841 shares in the last quarter. American Capital Advisory LLC boosted its stake in AT&T by 107.5% in the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after acquiring an additional 807 shares in the last quarter. Finally, Altshuler Shaham Ltd purchased a new position in shares of AT&T during the second quarter worth about $30,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the company. Tigress Financial lifted 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. Evercore ISI boosted their price target on AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research report on Thursday, October 24th. Redburn Atlantic raised AT&T to a “strong sell” rating in a research report on Monday, September 16th. 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. Finally, Moffett Nathanson increased their price target on AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, eight have assigned 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 has a consensus rating of “Moderate Buy” and an average target price of $23.40.

AT&T Stock Performance

T opened at $23.09 on Wednesday. The stock’s 50 day simple moving average is $22.07 and its 200 day simple moving average is $20.04. The stock has a market cap of $165.68 billion, a P/E ratio of 18.77, a P/E/G ratio of 3.47 and a beta of 0.59. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $23.32. 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 (NYSE:T) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.03. The business had revenue of $30.20 billion during 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.64 EPS. As a group, equities analysts anticipate that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were given a dividend of $0.2775 per share. The ex-dividend date was Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.81%. AT&T’s dividend 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.