Mach 1 Financial Group LLC Purchases 531 Shares of AT&T Inc. (NYSE:T)

Mach 1 Financial Group LLC raised its holdings in AT&T Inc. (NYSE:T) by 4.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,897 shares of the technology company’s stock after buying an additional 531 shares during the quarter. Mach 1 Financial Group LLC’s holdings in AT&T were worth $262,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in T. Riggs Asset Managment Co. Inc. boosted its stake in 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 in the last quarter. American Capital Advisory LLC boosted 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 in the last quarter. Reston Wealth Management LLC acquired a new stake in shares of AT&T in the 3rd quarter valued at $35,000. Altshuler Shaham Ltd bought a new stake in shares of AT&T in the 2nd quarter worth about $30,000. Finally, Marquette Asset Management LLC acquired a new stake in shares of AT&T during the 3rd quarter worth about $36,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on T shares. Scotiabank cut shares of AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Wells Fargo & Company dropped their price target on AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. TD Cowen lifted their price objective on AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. 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. Finally, Tigress Financial lifted their price target on AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a report on Friday, September 27th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $23.40.

AT&T Price Performance

T opened at $22.34 on Friday. The company has a fifty day moving average price of $21.70 and a two-hundred day moving average price of $19.52. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. The firm has a market capitalization of $160.30 billion, a PE ratio of 18.16, a P/E/G ratio of 3.35 and a beta of 0.59. AT&T Inc. has a 52 week low of $15.46 and a 52 week high of $22.73.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The business had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. During the same quarter in the prior year, the company posted $0.64 earnings per share. The firm’s revenue was down .5% on a year-over-year basis. As a group, analysts anticipate that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 4.97%. The ex-dividend date was Thursday, October 10th. AT&T’s payout ratio is 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.