AT&T Inc. (NYSE:T) Shares Purchased by United Asset Strategies Inc.

United Asset Strategies Inc. boosted its position in AT&T Inc. (NYSE:T) by 17.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,123 shares of the technology company’s stock after purchasing an additional 1,961 shares during the quarter. United Asset Strategies Inc.’s holdings in AT&T were worth $289,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in T. Strategic Financial Concepts LLC increased its stake in shares of AT&T by 227.6% in the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $25,000 after acquiring an additional 91,578 shares during the last quarter. Riggs Asset Managment Co. Inc. increased its stake 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 acquiring an additional 1,116 shares during the last quarter. American Capital Advisory LLC increased its stake in shares of AT&T by 107.5% in the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after acquiring an additional 807 shares during the last quarter. Altshuler Shaham Ltd acquired a new stake in shares of AT&T during the 2nd quarter worth about $30,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its position in shares of AT&T by 176.6% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock worth $35,000 after purchasing an additional 1,192 shares during the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Stock Performance

Shares of T opened at $22.53 on Friday. The stock has a 50-day simple moving average of $21.42 and a 200-day simple moving average of $19.27. 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 market capitalization of $161.62 billion, a PE ratio of 18.31, a PEG ratio of 3.31 and a beta of 0.60. AT&T Inc. has a 1 year low of $15.25 and a 1 year high of $22.59.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.03. The business had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The business’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter last year, the business posted $0.64 EPS. On average, analysts predict that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.93%. The ex-dividend date of this dividend is Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Citigroup raised their price objective on AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Moffett Nathanson raised their price objective on AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Scotiabank downgraded AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Tigress Financial raised their price objective on AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Finally, Oppenheimer raised their price objective on AT&T from $23.00 to $24.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. One equities research 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.40.

About AT&T

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.