AT&T Inc. (NYSE:T) Shares Bought by Fortitude Family Office LLC

Fortitude Family Office LLC boosted its holdings in shares of AT&T Inc. (NYSE:T) by 41.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 59,656 shares of the technology company’s stock after purchasing an additional 17,502 shares during the period. Fortitude Family Office LLC’s holdings in AT&T were worth $1,312,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Aviance Capital Partners LLC boosted its stake in shares of AT&T by 7.4% during the 1st quarter. Aviance Capital Partners LLC now owns 23,060 shares of the technology company’s stock worth $406,000 after acquiring an additional 1,595 shares in the last quarter. Miracle Mile Advisors LLC lifted its holdings in shares of AT&T by 3.1% during the first quarter. Miracle Mile Advisors LLC now owns 35,699 shares of the technology company’s stock valued at $628,000 after purchasing an additional 1,061 shares during the last quarter. Claro Advisors LLC boosted its position in shares of AT&T by 5.8% in the 1st quarter. Claro Advisors LLC now owns 26,711 shares of the technology company’s stock valued at $470,000 after purchasing an additional 1,474 shares during the period. Cullinan Associates Inc. boosted its position in shares of AT&T by 42.4% in the 1st quarter. Cullinan Associates Inc. now owns 20,156 shares of the technology company’s stock valued at $355,000 after purchasing an additional 6,000 shares during the period. Finally, Plimoth Trust Co. LLC increased its stake in AT&T by 7.7% in the 1st quarter. Plimoth Trust Co. LLC now owns 145,815 shares of the technology company’s stock worth $2,566,000 after purchasing an additional 10,387 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on T shares. Evercore ISI upped their price objective on shares of AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research note on Thursday, October 24th. Daiwa America upgraded shares of AT&T to a “hold” rating in a research report on Friday, July 26th. Citigroup boosted their target price 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 target price on AT&T from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Finally, Redburn Atlantic upgraded AT&T to a “strong sell” rating in a report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $23.40.

AT&T Trading Up 1.4 %

NYSE:T opened at $22.13 on Tuesday. The company has a market capitalization of $158.64 billion, a P/E ratio of 17.99, a P/E/G ratio of 3.74 and a beta of 0.60. The stock’s 50 day moving average price is $21.26 and its 200 day moving average price is $19.19. 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 Inc. has a 52 week low of $14.91 and a 52 week high of $22.58.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 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 company had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. During the same quarter in the prior year, the business posted $0.64 EPS. AT&T’s quarterly revenue was down .5% on a year-over-year basis. On average, research analysts forecast that AT&T Inc. will post 2.21 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be given a $0.2775 dividend. The ex-dividend date is Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.02%. AT&T’s dividend payout ratio is currently 90.24%.

AT&T Company 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.