Talbot Financial LLC Makes New Investment in AT&T Inc. (NYSE:T)

Talbot Financial LLC purchased a new stake in AT&T Inc. (NYSE:T) in the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 338,098 shares of the technology company’s stock, valued at approximately $7,438,000.

Other large investors also recently made changes to their positions in the company. Brookstone Capital Management boosted its position in shares of AT&T by 0.9% during the third quarter. Brookstone Capital Management now owns 793,140 shares of the technology company’s stock worth $17,449,000 after buying an additional 6,966 shares during the period. Atomi Financial Group Inc. raised its position in AT&T by 11.7% in the 3rd quarter. Atomi Financial Group Inc. now owns 118,332 shares of the technology company’s stock valued at $2,603,000 after buying an additional 12,356 shares during the last quarter. Traveka Wealth LLC bought a new stake in AT&T in the 3rd quarter valued at approximately $217,000. Axiom Advisory LLC boosted its position in AT&T by 2.3% during the 3rd quarter. Axiom Advisory LLC now owns 90,724 shares of the technology company’s stock worth $1,996,000 after acquiring an additional 2,036 shares during the last quarter. Finally, Salvus Wealth Management LLC bought a new position in shares of AT&T during the 3rd quarter worth approximately $241,000. Institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. BNP Paribas raised shares of AT&T from an “underperform” rating to a “neutral” rating in a research report on Tuesday, June 11th. The Goldman Sachs Group assumed coverage on shares of AT&T in a research note on Monday, July 1st. They set a “buy” rating and a $22.00 price objective for the company. Moffett Nathanson lifted their target price on AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Redburn Atlantic upgraded AT&T to a “strong sell” rating in a report on Monday, September 16th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $22.38.

AT&T Stock Performance

NYSE:T opened at $21.87 on Wednesday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. AT&T Inc. has a fifty-two week low of $14.23 and a fifty-two week high of $22.34. The company has a 50 day simple moving average of $20.53 and a two-hundred day simple moving average of $18.71. The company has a market capitalization of $156.81 billion, a PE ratio of 11.76, a P/E/G ratio of 3.78 and a beta of 0.60.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, hitting the consensus estimate of $0.57. The company had revenue of $29.80 billion during the quarter, compared to analysts’ expectations of $30.05 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. AT&T’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.63 earnings per share. Research analysts anticipate that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be paid a dividend of $0.2775 per share. The ex-dividend date is Thursday, October 10th. This represents a $1.11 annualized dividend and a yield of 5.08%. AT&T’s dividend payout ratio is currently 59.68%.

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.