Heritage Investors Management Corp Has $14.96 Million Position in AT&T Inc. (NYSE:T)

Heritage Investors Management Corp lowered its position in shares of AT&T Inc. (NYSE:T) by 3.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 680,028 shares of the technology company’s stock after selling 20,690 shares during the quarter. Heritage Investors Management Corp’s holdings in AT&T were worth $14,961,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Hayek Kallen Investment Management grew its holdings in AT&T by 0.8% during the third quarter. Hayek Kallen Investment Management now owns 60,271 shares of the technology company’s stock valued at $1,326,000 after purchasing an additional 500 shares during the period. Lake Street Advisors Group LLC boosted its holdings in shares of AT&T by 0.7% in the third quarter. Lake Street Advisors Group LLC now owns 73,562 shares of the technology company’s stock valued at $1,618,000 after buying an additional 513 shares during the period. Octavia Wealth Advisors LLC boosted its holdings in shares of AT&T by 2.1% in the second quarter. Octavia Wealth Advisors LLC now owns 25,313 shares of the technology company’s stock valued at $484,000 after buying an additional 519 shares during the period. Carolinas Wealth Consulting LLC boosted its holdings in shares of AT&T by 2.3% in the second quarter. Carolinas Wealth Consulting LLC now owns 23,650 shares of the technology company’s stock valued at $452,000 after buying an additional 521 shares during the period. Finally, WealthCare Investment Partners LLC boosted its holdings in shares of AT&T by 2.2% in the second quarter. WealthCare Investment Partners LLC now owns 24,138 shares of the technology company’s stock valued at $461,000 after buying an additional 525 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Performance

Shares of T traded up $0.06 during trading hours on Tuesday, hitting $21.98. The company had a trading volume of 1,200,440 shares, compared to its average volume of 35,569,969. The firm has a market cap of $157.71 billion, a price-to-earnings ratio of 17.82, a PEG ratio of 3.32 and a beta of 0.59. The business has a fifty day moving average of $21.51 and a 200-day moving average of $19.40. AT&T Inc. has a 12 month low of $15.46 and a 12 month high of $22.73. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share 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 analyst estimates of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The company’s revenue was down .5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.64 earnings per share. 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. Stockholders of record on Thursday, October 10th were given a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 5.05%. The ex-dividend date was Thursday, October 10th. AT&T’s payout ratio is presently 90.24%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on T shares. Scotiabank cut shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Evercore ISI upped their price target on shares of AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. upped their price target on shares of AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Moffett Nathanson increased their target price on shares of AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $22.00 target price on shares of AT&T in a report on Thursday, October 24th. 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 issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average 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.