Thompson Davis & CO. Inc. Takes $242,000 Position in AT&T Inc. (NYSE:T)

Thompson Davis & CO. Inc. bought a new position in shares of AT&T Inc. (NYSE:T) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 10,983 shares of the technology company’s stock, valued at approximately $242,000.

A number of other institutional investors also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its position in AT&T by 7.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock worth $1,549,375,000 after buying an additional 5,592,123 shares during the period. Legal & General Group Plc raised its stake in shares of AT&T by 2.7% in the second quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company’s stock worth $1,148,689,000 after purchasing an additional 1,569,374 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of AT&T by 2.0% in the second quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock valued at $985,307,000 after purchasing an additional 1,007,228 shares during the last quarter. LSV Asset Management boosted its position in AT&T by 1.1% in the second quarter. LSV Asset Management now owns 30,092,610 shares of the technology company’s stock worth $575,070,000 after purchasing an additional 315,580 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its stake in AT&T by 2.5% in the second quarter. Pacer Advisors Inc. now owns 28,113,880 shares of the technology company’s stock valued at $537,256,000 after acquiring an additional 675,082 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

AT&T stock opened at $22.73 on Wednesday. The company’s fifty day moving average price is $21.94 and its 200 day moving average price is $19.84. AT&T Inc. has a 1 year low of $15.85 and a 1 year high of $23.20. The stock has a market capitalization of $163.09 billion, a P/E ratio of 18.48, a P/E/G ratio of 3.40 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73.

AT&T (NYSE:T) last released its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The business had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. During the same period last year, the company posted $0.64 EPS. The business’s revenue was down .5% on a year-over-year basis. As a group, equities research analysts anticipate that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were issued a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.11 annualized dividend and a yield of 4.88%. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Royal Bank of Canada reissued a “sector perform” rating and set a $22.00 target price on shares of AT&T in a report on Thursday, October 24th. Redburn Atlantic upgraded AT&T to a “strong sell” rating in a research report on Monday, September 16th. Moffett Nathanson raised their price target on AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Daiwa America upgraded shares of AT&T to a “hold” rating in a report on Friday, July 26th. Finally, Wells Fargo & Company reduced their price target on AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.