Raymond James Trust N.A. Grows Stake in AT&T Inc. (NYSE:T)

Raymond James Trust N.A. raised its position in AT&T Inc. (NYSE:T) by 6.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 470,799 shares of the technology company’s stock after purchasing an additional 28,698 shares during the period. Raymond James Trust N.A.’s holdings in AT&T were worth $10,358,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in T. Covestor Ltd raised its holdings in shares of AT&T by 30.3% in the first quarter. Covestor Ltd now owns 2,678 shares of the technology company’s stock worth $48,000 after acquiring an additional 622 shares during the last quarter. EP Wealth Advisors LLC boosted its stake in shares of AT&T by 7.8% during the 1st quarter. EP Wealth Advisors LLC now owns 109,610 shares of the technology company’s stock worth $1,929,000 after purchasing an additional 7,944 shares during the last quarter. Westwood Holdings Group Inc. boosted its stake in shares of AT&T by 493.7% during the 1st quarter. Westwood Holdings Group Inc. now owns 123,987 shares of the technology company’s stock worth $2,182,000 after purchasing an additional 103,102 shares during the last quarter. Gabelli Funds LLC raised its position in shares of AT&T by 11.7% in the first quarter. Gabelli Funds LLC now owns 332,900 shares of the technology company’s stock valued at $5,859,000 after buying an additional 35,000 shares during the last quarter. Finally, 1832 Asset Management L.P. lifted its stake in shares of AT&T by 70.1% during the first quarter. 1832 Asset Management L.P. now owns 2,375 shares of the technology company’s stock valued at $42,000 after buying an additional 979 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Trading Up 0.9 %

Shares of AT&T stock opened at $23.03 on Friday. The business has a fifty day simple moving average of $21.99 and a 200-day simple moving average of $19.88. The firm has a market cap of $165.21 billion, a price-to-earnings ratio of 18.72, a price-to-earnings-growth ratio of 3.41 and a beta of 0.59. AT&T Inc. has a fifty-two week low of $15.94 and a fifty-two week high of $23.20. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09.

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

AT&T Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a yield of 4.82%. AT&T’s dividend payout ratio is currently 90.24%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Moffett Nathanson upped their target price on AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. Oppenheimer upped their price objective on shares of AT&T from $23.00 to $24.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Tigress Financial increased their price objective on shares of AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Barclays boosted their target price on shares of AT&T from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Finally, Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target 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.