Q3 Asset Management Takes Position in AT&T Inc. $T

Q3 Asset Management purchased a new position in AT&T Inc. (NYSE:T) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 103,454 shares of the technology company’s stock, valued at approximately $2,993,000. AT&T makes up about 1.1% of Q3 Asset Management’s investment portfolio, making the stock its 15th largest holding.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Front Row Advisors LLC acquired a new stake in shares of AT&T during the 2nd quarter valued at approximately $25,000. O Brien Wealth Partners LLC bought a new stake in AT&T during the second quarter valued at $26,000. Kennebec Savings Bank increased its stake in AT&T by 412.1% during the second quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock valued at $28,000 after purchasing an additional 783 shares during the last quarter. Solstein Capital LLC raised its holdings in shares of AT&T by 217.3% during the second quarter. Solstein Capital LLC now owns 952 shares of the technology company’s stock worth $28,000 after purchasing an additional 652 shares during the period. Finally, Curio Wealth LLC lifted its position in shares of AT&T by 26,100.0% in the 2nd quarter. Curio Wealth LLC now owns 1,048 shares of the technology company’s stock worth $30,000 after buying an additional 1,044 shares during the last quarter. 57.10% of the stock is owned by institutional investors.

AT&T Stock Performance

Shares of T stock opened at $24.57 on Monday. AT&T Inc. has a 12-month low of $21.38 and a 12-month high of $29.79. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.01 and a quick ratio of 0.96. The firm has a market capitalization of $174.20 billion, a price-to-earnings ratio of 7.98, a price-to-earnings-growth ratio of 1.44 and a beta of 0.38. The business has a 50 day simple moving average of $25.41 and a 200 day simple moving average of $27.26.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.54. The company had revenue of $30.71 billion during the quarter, compared to analysts’ expectations of $30.85 billion. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.60 earnings per share. On average, equities research analysts anticipate that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Friday, October 10th were paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date was Friday, October 10th. AT&T’s dividend payout ratio (DPR) is currently 36.04%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Morgan Stanley lowered their price objective on shares of AT&T from $32.00 to $30.00 and set an “overweight” rating for the company in a research report on Wednesday, December 10th. Weiss Ratings restated a “buy (b)” rating on shares of AT&T in a research note on Wednesday, October 8th. Williams Trading set a $33.00 price target on AT&T in a research report on Thursday, October 23rd. Barclays cut their price target on AT&T from $30.00 to $28.00 and set an “equal weight” rating on the stock in a report on Thursday, October 23rd. Finally, UBS Group restated a “buy” rating on shares of AT&T in a research note on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.55.

About AT&T

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.