CFS Investment Advisory Services LLC Acquires 1,304 Shares of AT&T Inc. (NYSE:T)

CFS Investment Advisory Services LLC boosted its holdings in AT&T Inc. (NYSE:T) by 6.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 22,588 shares of the technology company’s stock after purchasing an additional 1,304 shares during the quarter. CFS Investment Advisory Services LLC’s holdings in AT&T were worth $497,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in T. Chesapeake Wealth Management increased its holdings in shares of AT&T by 1.9% in the 3rd quarter. Chesapeake Wealth Management now owns 24,304 shares of the technology company’s stock worth $535,000 after purchasing an additional 460 shares in the last quarter. Socha Financial Group LLC increased its holdings in shares of AT&T by 2.5% in the 3rd quarter. Socha Financial Group LLC now owns 18,847 shares of the technology company’s stock worth $415,000 after purchasing an additional 461 shares in the last quarter. Essex Savings Bank increased its holdings in shares of AT&T by 2.3% in the 3rd quarter. Essex Savings Bank now owns 21,636 shares of the technology company’s stock worth $476,000 after purchasing an additional 480 shares in the last quarter. Hayek Kallen Investment Management increased its holdings in shares of AT&T by 0.8% in the 3rd quarter. Hayek Kallen Investment Management now owns 60,271 shares of the technology company’s stock worth $1,326,000 after purchasing an additional 500 shares in the last quarter. Finally, Aviance Capital Partners LLC increased its holdings in shares of AT&T by 2.1% in the 3rd quarter. Aviance Capital Partners LLC now owns 24,389 shares of the technology company’s stock worth $537,000 after purchasing an additional 501 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

T has been the subject of a number of research analyst reports. Redburn Atlantic raised AT&T to a “strong sell” rating in a report on Monday, September 16th. Daiwa America raised AT&T to a “hold” rating in a report on Friday, July 26th. Evercore ISI lifted their target price on AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a report on Thursday, October 24th. Wells Fargo & Company cut their price objective on AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Finally, Scotiabank lowered AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $23.40.

AT&T Stock Performance

NYSE:T opened at $23.18 on Friday. The stock has a 50-day simple moving average of $22.02 and a two-hundred day simple moving average of $19.92. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $23.29. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. The firm has a market capitalization of $166.29 billion, a PE ratio of 18.84, a P/E/G ratio of 3.45 and a beta of 0.59.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The business had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. During the same period in the previous year, the business earned $0.64 earnings per share. The business’s revenue was down .5% on a year-over-year basis. Analysts forecast that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were given 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 4.79%. AT&T’s payout ratio is 90.24%.

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.