Prestige Wealth Management Group LLC Boosts Stake in AT&T Inc. (NYSE:T)

Prestige Wealth Management Group LLC lifted its holdings in AT&T Inc. (NYSE:T) by 2.4% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 46,641 shares of the technology company’s stock after buying an additional 1,072 shares during the period. Prestige Wealth Management Group LLC’s holdings in AT&T were worth $1,026,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of T. Strategic Financial Concepts LLC increased its holdings in AT&T by 227.6% during the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $25,000 after buying an additional 91,578 shares during the last quarter. Legacy Investment Solutions LLC purchased a new stake in shares of AT&T during the 3rd quarter worth approximately $25,000. Riggs Asset Managment Co. Inc. raised its holdings in shares of 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 worth $27,000 after purchasing an additional 1,116 shares during the period. Ritter Daniher Financial Advisory LLC DE lifted its stake in AT&T by 169.2% in the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after purchasing an additional 841 shares during the last quarter. Finally, American Capital Advisory LLC grew its holdings in AT&T by 107.5% during 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 period. 57.10% of the stock is owned by institutional investors.

AT&T Price Performance

Shares of NYSE T opened at $23.38 on Tuesday. The stock’s 50-day simple moving average is $22.39 and its two-hundred day simple moving average is $20.43. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $24.03. The firm has a market capitalization of $167.76 billion, a P/E ratio of 19.01, a P/E/G ratio of 3.63 and a beta of 0.59. 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 posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.03. The company had revenue of $30.20 billion for the quarter, compared to analysts’ expectations of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. AT&T’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.64 earnings per share. As a group, equities analysts anticipate that AT&T Inc. will post 2.19 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 dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.75%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is currently 90.24%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Wells Fargo & Company lowered 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. Citigroup increased their target price on shares of AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. The Goldman Sachs Group boosted their price target on shares of AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. JPMorgan Chase & Co. raised their price objective on shares of AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Finally, Hsbc Global Res upgraded AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, AT&T currently has an average rating of “Moderate Buy” and a consensus price target of $24.73.

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.