Good Life Advisors LLC Has $2.55 Million Stock Position in AT&T Inc. (NYSE:T)

Good Life Advisors LLC grew its holdings in AT&T Inc. (NYSE:T) by 4.7% in the 3rd quarter, Holdings Channel reports. The fund owned 116,024 shares of the technology company’s stock after purchasing an additional 5,255 shares during the quarter. Good Life Advisors LLC’s holdings in AT&T were worth $2,552,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Riggs Asset Managment Co. Inc. lifted its holdings in shares of AT&T by 356.5% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after purchasing an additional 1,116 shares in the last quarter. American Capital Advisory LLC grew its position in shares of 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 purchasing an additional 807 shares during the last quarter. Altshuler Shaham Ltd bought a new position in shares of AT&T during the second quarter worth approximately $30,000. Marquette Asset Management LLC bought a new stake in AT&T in the 3rd quarter valued at $36,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its position in AT&T by 176.6% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock worth $35,000 after buying an additional 1,192 shares during the period. Institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft boosted their price target on AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Barclays lifted their target price on AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Citigroup lifted their price target on shares of AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Finally, Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a research note on Monday, September 16th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, AT&T has a consensus rating of “Moderate Buy” and an average target price of $22.69.

AT&T Stock Performance

T stock remained flat at $21.71 during trading on Thursday. The company had a trading volume of 6,385,955 shares, compared to its average volume of 35,485,301. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. AT&T Inc. has a fifty-two week low of $14.31 and a fifty-two week high of $22.34. The firm has a market capitalization of $155.66 billion, a price-to-earnings ratio of 11.68, a P/E/G ratio of 3.62 and a beta of 0.60. The business’s fifty day simple moving average is $20.86 and its 200 day simple moving average is $18.91.

AT&T (NYSE:T) last released its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.57. The firm had revenue of $29.80 billion for the quarter, compared to analysts’ expectations of $30.05 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The company’s quarterly revenue was down .3% on a year-over-year basis. During the same period in the previous year, the company earned $0.63 earnings per share. As a group, analysts predict that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be issued a $0.2775 dividend. The ex-dividend date is Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.11%. AT&T’s payout ratio is currently 59.68%.

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.