Symphony Financial Ltd. Co. Has $2.34 Million Position in AT&T Inc. (NYSE:T)

Symphony Financial Ltd. Co. increased its stake in shares of AT&T Inc. (NYSE:T) by 4.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 106,453 shares of the technology company’s stock after purchasing an additional 4,858 shares during the quarter. Symphony Financial Ltd. Co.’s holdings in AT&T were worth $2,342,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in T. Hayek Kallen Investment Management raised its holdings in AT&T by 0.8% in the 3rd quarter. Hayek Kallen Investment Management now owns 60,271 shares of the technology company’s stock worth $1,326,000 after purchasing an additional 500 shares in the last quarter. Octavia Wealth Advisors LLC lifted its holdings in AT&T by 2.1% in the second quarter. Octavia Wealth Advisors LLC now owns 25,313 shares of the technology company’s stock worth $484,000 after buying an additional 519 shares during the period. Carolinas Wealth Consulting LLC grew its stake in AT&T by 2.3% in the second quarter. Carolinas Wealth Consulting LLC now owns 23,650 shares of the technology company’s stock worth $452,000 after purchasing an additional 521 shares during the period. WealthCare Investment Partners LLC raised its holdings in AT&T by 2.2% in the second quarter. WealthCare Investment Partners LLC now owns 24,138 shares of the technology company’s stock worth $461,000 after purchasing an additional 525 shares in the last quarter. Finally, Little House Capital LLC grew its position in shares of AT&T by 4.8% in the 3rd quarter. Little House Capital LLC now owns 11,619 shares of the technology company’s stock worth $256,000 after buying an additional 537 shares during the period. Institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

T traded down $0.16 during trading on Tuesday, reaching $21.50. 45,381,750 shares of the company traded hands, compared to its average volume of 35,557,117. AT&T Inc. has a 12-month low of $14.74 and a 12-month high of $22.34. The firm has a fifty day simple moving average of $20.99 and a 200 day simple moving average of $19.01. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. The company has a market cap of $154.16 billion, a P/E ratio of 12.32, a PEG ratio of 3.73 and a beta of 0.60.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, meeting the consensus estimate of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The business had revenue of $29.80 billion during the quarter, compared to the consensus estimate of $30.05 billion. During the same quarter in the prior year, the firm earned $0.63 EPS. The business’s revenue was down .3% on a year-over-year basis. On average, equities analysts forecast that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.16%. The ex-dividend date is Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is presently 63.79%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on T shares. Evercore ISI upped their price target on AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a research note on Thursday, July 25th. Daiwa America raised shares of AT&T to a “hold” rating in a report on Friday, July 26th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a report on Friday, June 28th. Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. Finally, Citigroup increased their price target on AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $22.69.

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.