Kraft Davis & Associates LLC Invests $211,000 in AT&T Inc. (NYSE:T)

Kraft Davis & Associates LLC acquired a new stake in AT&T Inc. (NYSE:T) in the third quarter, HoldingsChannel reports. The firm acquired 9,493 shares of the technology company’s stock, valued at approximately $211,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. Mercer Global Advisors Inc. ADV lifted its position in AT&T by 1,379.0% during the second quarter. Mercer Global Advisors Inc. ADV now owns 14,159,133 shares of the technology company’s stock valued at $270,581,000 after buying an additional 13,201,774 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of AT&T by 43.3% during the second quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock worth $414,563,000 after purchasing an additional 6,602,586 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in AT&T by 7.4% in 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 in the last quarter. Thornburg Investment Management Inc. boosted its position in AT&T by 22.0% in the 2nd quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company’s stock valued at $477,528,000 after buying an additional 4,511,725 shares during the last quarter. Finally, Jupiter Asset Management Ltd. acquired a new position in shares of AT&T in the second quarter worth about $78,570,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

T has been the topic of several recent analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $22.00 price target on shares of AT&T in a report on Thursday, October 24th. Daiwa America raised shares of AT&T to a “hold” rating in a research report on Friday, July 26th. Evercore ISI boosted their price objective on AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a report on Thursday, October 24th. Oppenheimer increased their target price on AT&T from $23.00 to $24.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, TD Cowen boosted their price target on AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $23.40.

AT&T Stock Performance

Shares of T stock opened at $22.73 on Wednesday. AT&T Inc. has a 12-month low of $15.85 and a 12-month high of $23.20. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. The firm has a market capitalization of $163.09 billion, a price-to-earnings ratio of 18.48, a price-to-earnings-growth ratio of 3.40 and a beta of 0.59. The business has a 50 day simple moving average of $21.94 and a 200 day simple moving average of $19.84.

AT&T (NYSE:T) last issued its quarterly 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. The company had revenue of $30.20 billion during the quarter, compared to analyst estimates of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The business’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.64 EPS. On average, equities research analysts anticipate that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were given a $0.2775 dividend. The ex-dividend date 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 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.