AT&T Inc. (NYSE:T) Shares Acquired by Townsquare Capital LLC

Townsquare Capital LLC boosted its position in AT&T Inc. (NYSE:T) by 1.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 546,710 shares of the technology company’s stock after acquiring an additional 6,071 shares during the quarter. Townsquare Capital LLC’s holdings in AT&T were worth $12,028,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Shum Financial Group Inc. purchased a new position in AT&T in the third quarter valued at approximately $342,000. Avestar Capital LLC increased its position in shares of AT&T by 10.7% in the third quarter. Avestar Capital LLC now owns 36,892 shares of the technology company’s stock worth $812,000 after acquiring an additional 3,556 shares in the last quarter. Brooklyn Investment Group raised its stake in shares of AT&T by 9.7% in the 3rd quarter. Brooklyn Investment Group now owns 54,009 shares of the technology company’s stock valued at $1,188,000 after acquiring an additional 4,760 shares during the period. FMR LLC lifted its holdings in shares of AT&T by 1.9% during the 3rd quarter. FMR LLC now owns 60,986,064 shares of the technology company’s stock valued at $1,341,693,000 after acquiring an additional 1,149,688 shares in the last quarter. Finally, Summit Financial Wealth Advisors LLC boosted its position in AT&T by 2.1% during the 3rd quarter. Summit Financial Wealth Advisors LLC now owns 496,523 shares of the technology company’s stock worth $10,923,000 after purchasing an additional 10,084 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

Shares of NYSE T opened at $23.27 on Thursday. The business has a 50 day simple moving average of $22.10 and a 200-day simple moving average of $20.07. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $23.38. The company has a market capitalization of $166.97 billion, a price-to-earnings ratio of 18.92, a price-to-earnings-growth ratio of 3.47 and a beta of 0.59. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09.

AT&T (NYSE:T) last issued its 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. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The company had revenue of $30.20 billion for the quarter, compared to analysts’ expectations of $30.50 billion. During the same period in the prior year, the company earned $0.64 earnings per share. The firm’s revenue was down .5% compared to the same quarter last year. As a group, equities research analysts expect that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.77%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is 90.24%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on T shares. Barclays boosted their price objective on AT&T from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Moffett Nathanson boosted their price target on AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Citigroup increased their price objective on shares of AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday. Evercore ISI boosted their target price on shares of AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research report on Thursday, October 24th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $22.00 price target on shares of AT&T in a report on Thursday, October 24th. One investment 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $23.53.

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.