AT&T Inc. (NYSE:T) Shares Acquired by West Family Investments Inc.

West Family Investments Inc. increased its stake in AT&T Inc. (NYSE:T) by 11.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,281 shares of the technology company’s stock after purchasing an additional 2,356 shares during the period. West Family Investments Inc.’s holdings in AT&T were worth $490,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of T. Covestor Ltd increased its stake in AT&T by 30.3% in the first quarter. Covestor Ltd now owns 2,678 shares of the technology company’s stock valued at $48,000 after acquiring an additional 622 shares during the period. Bahl & Gaynor Inc. lifted its holdings in AT&T by 13.5% during the 1st quarter. Bahl & Gaynor Inc. now owns 40,623 shares of the technology company’s stock worth $715,000 after purchasing an additional 4,841 shares during the last quarter. Bessemer Group Inc. increased its position in shares of AT&T by 72.2% in the first quarter. Bessemer Group Inc. now owns 323,538 shares of the technology company’s stock worth $5,696,000 after purchasing an additional 135,603 shares during the period. Lake Street Advisors Group LLC raised its position in AT&T by 40.8% during the first quarter. Lake Street Advisors Group LLC now owns 75,861 shares of the technology company’s stock valued at $1,335,000 after purchasing an additional 22,001 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of AT&T by 10,357.3% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,811,000 shares of the technology company’s stock worth $31,874,000 after acquiring an additional 1,793,682 shares during the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Price Performance

Shares of T stock opened at $22.99 on Tuesday. AT&T Inc. has a 1-year low of $15.85 and a 1-year high of $23.20. The company has a market cap of $164.96 billion, a P/E ratio of 18.69, a PEG ratio of 3.40 and a beta of 0.59. 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 stock’s 50-day moving average is $21.92 and its 200 day moving average is $19.79.

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 the consensus estimate of $0.57 by $0.03. The company had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. AT&T’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.64 EPS. Research analysts predict that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were paid a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.83%. AT&T’s dividend payout ratio is presently 90.24%.

Analyst Ratings Changes

Several analysts recently weighed in on T shares. Tigress Financial boosted their price objective on shares of AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. TD Cowen upped their target price on AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Royal Bank of Canada restated a “sector perform” rating and set a $22.00 price target on shares of AT&T in a research note on Thursday, October 24th. Wells Fargo & Company cut their price objective on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Finally, Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a research note on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $23.40.

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.