Kingsview Wealth Management LLC Has $5.72 Million Holdings in AT&T Inc. (NYSE:T)

Kingsview Wealth Management LLC lifted its holdings in AT&T Inc. (NYSE:T) by 5.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 259,833 shares of the technology company’s stock after acquiring an additional 12,393 shares during the period. Kingsview Wealth Management LLC’s holdings in AT&T were worth $5,716,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of T. Cerity Partners LLC grew its stake in AT&T by 16.4% during the third quarter. Cerity Partners LLC now owns 1,564,886 shares of the technology company’s stock worth $34,428,000 after buying an additional 220,574 shares in the last quarter. Great Valley Advisor Group Inc. grew its stake in AT&T by 19.4% during the third quarter. Great Valley Advisor Group Inc. now owns 66,883 shares of the technology company’s stock worth $1,472,000 after buying an additional 10,854 shares in the last quarter. Certified Advisory Corp grew its stake in AT&T by 17.7% during the third quarter. Certified Advisory Corp now owns 34,562 shares of the technology company’s stock worth $760,000 after buying an additional 5,195 shares in the last quarter. Nwam LLC grew its stake in AT&T by 78.1% during the third quarter. Nwam LLC now owns 109,161 shares of the technology company’s stock worth $2,402,000 after buying an additional 47,873 shares in the last quarter. Finally, Meridian Wealth Management LLC grew its stake in AT&T by 1.2% during the third quarter. Meridian Wealth Management LLC now owns 59,034 shares of the technology company’s stock worth $1,299,000 after buying an additional 703 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Up 0.9 %

Shares of NYSE T opened at $23.18 on Friday. The company has a 50 day simple moving average of $22.02 and a 200 day simple moving average of $19.94. The firm has a market cap of $166.32 billion, a PE ratio of 18.85, a price-to-earnings-growth ratio of 3.45 and a beta of 0.59. AT&T Inc. has a 1 year low of $15.94 and a 1 year high of $23.29. 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 released its quarterly 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 net margin of 7.42% and a return on equity of 13.97%. The firm had revenue of $30.20 billion during the quarter, compared to analyst estimates of $30.50 billion. During the same quarter last year, the business earned $0.64 EPS. The company’s revenue was down .5% compared to the same quarter last year. On average, research analysts forecast that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were issued a dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.11 annualized dividend and a yield of 4.79%. AT&T’s payout ratio is 90.24%.

Analysts Set New Price Targets

A number of brokerages have issued reports on T. Wells Fargo & Company reduced their price objective on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Tigress Financial raised their price target 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. Citigroup raised their price target on shares of AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Barclays raised their price target on shares of AT&T from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $22.00 price target on shares of AT&T in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $23.40.

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.