Schneider Downs Wealth Management Advisors LP Purchases New Shares in AT&T Inc. (NYSE:T)

Schneider Downs Wealth Management Advisors LP acquired 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 institutional investor acquired 9,612 shares of the technology company’s stock, valued at approximately $211,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Turtle Creek Wealth Advisors LLC lifted its position in AT&T by 3.4% during the third quarter. Turtle Creek Wealth Advisors LLC now owns 87,379 shares of the technology company’s stock valued at $1,922,000 after buying an additional 2,863 shares during the period. Natixis Advisors LLC lifted its position in AT&T by 21.8% during the 3rd quarter. Natixis Advisors LLC now owns 2,201,609 shares of the technology company’s stock valued at $48,435,000 after acquiring an additional 393,838 shares during the period. Empirical Finance LLC boosted its stake in AT&T by 2.1% during the third quarter. Empirical Finance LLC now owns 280,341 shares of the technology company’s stock worth $6,168,000 after acquiring an additional 5,689 shares in the last quarter. Signature Estate & Investment Advisors LLC grew its holdings in AT&T by 3.2% in the third quarter. Signature Estate & Investment Advisors LLC now owns 32,013 shares of the technology company’s stock worth $704,000 after purchasing an additional 997 shares during the period. Finally, CIBC Asset Management Inc increased its stake in shares of AT&T by 5.4% during the third quarter. CIBC Asset Management Inc now owns 1,150,056 shares of the technology company’s stock valued at $25,300,000 after purchasing an additional 58,585 shares in the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on T. Daiwa America raised AT&T to a “hold” rating in a research report on Friday, July 26th. Citigroup increased their price objective on shares of AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Scotiabank cut shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Wells Fargo & Company cut their target price on AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $22.00 price objective on shares of AT&T in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $23.40.

AT&T Trading Up 1.9 %

Shares of T stock opened at $22.68 on Friday. 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 stock has a fifty day simple moving average of $21.89 and a two-hundred day simple moving average of $19.73. The firm has a market capitalization of $162.74 billion, a PE ratio of 18.44, a PEG ratio of 3.40 and a beta of 0.59. AT&T Inc. has a 52-week low of $15.75 and a 52-week high of $22.75.

AT&T (NYSE:T) last released its 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. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The firm had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. During the same quarter last year, the business posted $0.64 earnings per share. The firm’s revenue was down .5% on a year-over-year basis. On average, analysts predict that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently announced 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 of this dividend was Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.89%. AT&T’s dividend payout ratio is 90.24%.

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.