AT&T Inc. (NYSE:T) Shares Acquired by Arkadios Wealth Advisors

Arkadios Wealth Advisors boosted its stake in AT&T Inc. (NYSE:T) by 1.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 71,192 shares of the technology company’s stock after acquiring an additional 1,294 shares during the quarter. Arkadios Wealth Advisors’ holdings in AT&T were worth $1,566,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV grew its position in shares of 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 worth $270,581,000 after buying an additional 13,201,774 shares in the last quarter. AQR Capital Management LLC grew its holdings in AT&T by 43.3% during the 2nd quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock worth $414,563,000 after acquiring an additional 6,602,586 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of AT&T by 7.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock worth $1,549,375,000 after purchasing an additional 5,592,123 shares during the last quarter. Thornburg Investment Management Inc. raised its stake in shares of AT&T by 22.0% in 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 purchasing an additional 4,511,725 shares in the last quarter. Finally, Jupiter Asset Management Ltd. bought a new position in shares of AT&T during the second quarter worth about $78,570,000. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Price Performance

Shares of T opened at $21.83 on Monday. The firm has a market capitalization of $156.52 billion, a price-to-earnings ratio of 11.74, a price-to-earnings-growth ratio of 3.67 and a beta of 0.60. The stock’s fifty day moving average is $21.20 and its 200-day moving average is $19.15. AT&T Inc. has a one year low of $14.74 and a one year high of $22.58. 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 (NYSE:T) last issued its quarterly 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 10.41% and a return on equity of 14.16%. The company had revenue of $30.20 billion during the quarter, compared to analyst estimates of $30.50 billion. During the same period in the prior year, the business posted $0.64 EPS. The business’s revenue for the quarter was down .5% compared to the same quarter last year. Equities analysts anticipate that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 5.08%. The ex-dividend date of this dividend is Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on T. Redburn Atlantic raised AT&T to a “strong sell” rating in a report on Monday, September 16th. The Goldman Sachs Group initiated coverage on AT&T in a research report on Monday, July 1st. They set a “buy” rating and a $22.00 price target on the stock. Oppenheimer lifted their price objective on shares of AT&T from $23.00 to $24.00 and gave the stock an “outperform” rating in a report on Thursday. Scotiabank cut shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, Barclays lifted their price target on shares of AT&T from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned 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 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.