OneAscent Wealth Management LLC Purchases 4,114 Shares of AT&T Inc. (NYSE:T)

OneAscent Wealth Management LLC boosted its position in AT&T Inc. (NYSE:T) by 17.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 27,239 shares of the technology company’s stock after acquiring an additional 4,114 shares during the period. OneAscent Wealth Management LLC’s holdings in AT&T were worth $599,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Strategic Financial Concepts LLC raised its stake in shares of AT&T by 227.6% in the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $25,000 after purchasing an additional 91,578 shares during the last quarter. Riggs Asset Managment Co. Inc. grew its holdings in AT&T by 356.5% during the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after purchasing an additional 1,116 shares during the period. Ritter Daniher Financial Advisory LLC DE boosted its holdings in shares of AT&T by 169.2% in the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after acquiring an additional 841 shares during the period. American Capital Advisory LLC boosted its holdings in shares of AT&T by 107.5% in the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after acquiring an additional 807 shares during the period. Finally, Altshuler Shaham Ltd bought a new position in shares of AT&T in the second quarter worth $30,000. Institutional investors own 57.10% of the company’s stock.

AT&T Trading Up 1.8 %

NYSE:T traded up $0.41 during mid-day trading on Monday, reaching $23.09. 5,671,373 shares of the company’s stock traded hands, compared to its average volume of 35,380,988. AT&T Inc. has a 12-month low of $15.85 and a 12-month high of $23.15. The firm has a market capitalization of $165.68 billion, a price-to-earnings ratio of 18.44, 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 company has a 50 day moving average price of $21.89 and a 200-day moving average price of $19.75.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $30.50 billion. During the same quarter in the previous year, the business earned $0.64 EPS. AT&T’s revenue was down .5% compared to the same quarter last year. On average, sell-side analysts predict that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were given a dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.11 annualized dividend and a yield of 4.81%. AT&T’s payout ratio is 90.24%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on T. Moffett Nathanson lifted their price objective on AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. Redburn Atlantic raised AT&T to a “strong sell” rating in a research note on Monday, September 16th. Evercore ISI lifted their price objective on AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research note on Thursday, October 24th. Royal Bank of Canada reissued a “sector perform” rating and set a $22.00 price objective on shares of AT&T in a research note on Thursday, October 24th. Finally, Barclays raised their price target on AT&T from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $23.40.

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.