Hengehold Capital Management LLC Acquires New Stake in AT&T Inc. (NYSE:T)

Hengehold Capital Management LLC bought a new position in AT&T Inc. (NYSE:T) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 12,526 shares of the technology company’s stock, valued at approximately $276,000.

A number of other large investors have also made changes to their positions in 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 purchasing an additional 13,201,774 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of AT&T by 43.3% in the second quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock worth $414,563,000 after buying an additional 6,602,586 shares during the period. Bank of New York Mellon Corp lifted its position in shares of AT&T by 7.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock valued at $1,549,375,000 after buying an additional 5,592,123 shares in the last quarter. Thornburg Investment Management Inc. grew its stake in shares of AT&T by 22.0% during 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 acquiring an additional 4,511,725 shares during the period. Finally, Jupiter Asset Management Ltd. purchased a new stake in AT&T in the 2nd quarter worth approximately $78,570,000. 57.10% of the stock is currently owned by institutional investors.

AT&T Stock Performance

AT&T stock opened at $21.74 on Friday. The company’s 50-day moving average price is $20.90 and its 200-day moving average price is $18.93. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. The company has a market cap of $155.84 billion, a PE ratio of 11.69, a price-to-earnings-growth ratio of 3.63 and a beta of 0.60. AT&T Inc. has a twelve month low of $14.31 and a twelve month high of $22.34.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.57. The business had revenue of $29.80 billion for the quarter, compared to the consensus estimate of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The company’s quarterly revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.63 earnings per share. On average, equities research 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 will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 5.11%. The ex-dividend date of this dividend is Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is 59.68%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on T shares. Deutsche Bank Aktiengesellschaft upped their price target on shares of AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Moffett Nathanson increased their price target on AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Barclays boosted their price objective on AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Hsbc Global Res upgraded AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. Finally, Evercore ISI boosted their price target on AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $22.69.

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.