Kestra Investment Management LLC Takes Position in AT&T Inc. (NYSE:T)

Kestra Investment Management LLC bought a new position in AT&T Inc. (NYSE:T) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 17,376 shares of the technology company’s stock, valued at approximately $382,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Paradigm Capital Management LLC NV acquired a new stake in shares of AT&T in the third quarter valued at about $1,270,000. FSA Wealth Management LLC bought a new stake in AT&T during the 3rd quarter valued at approximately $241,000. Erste Asset Management GmbH acquired a new stake in AT&T in the 3rd quarter valued at approximately $22,307,000. True Wealth Design LLC increased its position in AT&T by 1,936.9% in the 3rd quarter. True Wealth Design LLC now owns 5,520 shares of the technology company’s stock worth $121,000 after buying an additional 5,249 shares during the period. Finally, Tradition Wealth Management LLC bought a new stake in shares of AT&T in the third quarter valued at approximately $270,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Tigress Financial upped their target price on shares of AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Oppenheimer increased their target price on shares of AT&T from $23.00 to $24.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Scotiabank lowered AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Royal Bank of Canada restated a “sector perform” rating and issued a $22.00 target price on shares of AT&T in a research note on Thursday, October 24th. Finally, Barclays raised their target price on AT&T from $22.00 to $24.00 and gave the stock an “overweight” rating 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 issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.53.

AT&T Stock Down 2.0 %

NYSE T opened at $22.70 on Tuesday. The stock’s 50 day simple moving average is $22.17 and its 200 day simple moving average is $20.17. AT&T Inc. has a one year low of $15.94 and a one year high of $23.38. The firm has a market cap of $162.88 billion, a PE ratio of 18.46, a price-to-earnings-growth ratio of 3.48 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 (NYSE:T) last announced its earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping 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 analysts’ expectations of $30.50 billion. During the same quarter in the prior year, the business earned $0.64 earnings per share. The business’s revenue for the quarter was down .5% on a year-over-year basis. As a group, sell-side analysts forecast that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date was Thursday, October 10th. AT&T’s dividend payout ratio is currently 90.24%.

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.