Prospera Private Wealth LLC Raises Stake in AT&T Inc. (NYSE:T)

Prospera Private Wealth LLC lifted its position in shares of AT&T Inc. (NYSE:T) by 49.7% in the 3rd quarter, Holdings Channel.com reports. The fund owned 185,887 shares of the technology company’s stock after buying an additional 61,743 shares during the quarter. Prospera Private Wealth LLC’s holdings in AT&T were worth $4,090,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Strategic Financial Concepts LLC lifted its holdings in AT&T by 227.6% in the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after acquiring an additional 91,578 shares during the period. Riggs Asset Managment Co. Inc. raised its position in shares of AT&T by 356.5% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after buying an additional 1,116 shares in the last quarter. Ritter Daniher Financial Advisory LLC DE increased its position in AT&T by 169.2% during the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after acquiring an additional 841 shares during the last quarter. American Capital Advisory LLC boosted its position in shares of AT&T by 107.5% during the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after buying an additional 807 shares during the period. Finally, Altshuler Shaham Ltd bought a new position in AT&T in the 2nd quarter valued at $30,000. 57.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

T has been the subject of several research reports. Moffett Nathanson upped their price target on shares of AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Tigress Financial boosted their price target on AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a report on Friday, September 27th. Citigroup upped their price objective on shares of AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Daiwa America raised shares of AT&T to a “hold” rating in a report on Friday, July 26th. 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 investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, AT&T has an average rating of “Moderate Buy” and an average price target of $23.40.

AT&T Stock Performance

Shares of T opened at $22.73 on Wednesday. The company has a market capitalization of $163.09 billion, a PE ratio of 18.48, a P/E/G ratio of 3.40 and a beta of 0.59. AT&T Inc. has a 52-week low of $15.85 and a 52-week high of $23.20. The company has a 50-day simple moving average of $21.94 and a 200-day simple moving average of $19.84. 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 posted its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.03. The company had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. AT&T’s revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.64 earnings per share. Equities research analysts predict that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were paid a dividend of $0.2775 per share. The ex-dividend date was Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.88%. AT&T’s dividend payout ratio is currently 90.24%.

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.