Modera Wealth Management LLC Has $1.25 Million Position in AT&T Inc. (NYSE:T)

Modera Wealth Management LLC increased its position in shares of AT&T Inc. (NYSE:T) by 23.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 56,875 shares of the technology company’s stock after acquiring an additional 10,654 shares during the period. Modera Wealth Management LLC’s holdings in AT&T were worth $1,251,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Strategic Financial Concepts LLC increased its stake in shares of AT&T by 227.6% in the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after purchasing an additional 91,578 shares during the last quarter. Riggs Asset Managment Co. Inc. boosted its stake in AT&T by 356.5% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after buying an additional 1,116 shares in the last quarter. American Capital Advisory LLC grew its position in AT&T by 107.5% in the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after acquiring an additional 807 shares during the last quarter. Altshuler Shaham Ltd acquired a new position in AT&T during the second quarter worth about $30,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its holdings in shares of AT&T by 176.6% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock worth $35,000 after acquiring an additional 1,192 shares during the last quarter. 57.10% of the stock is owned by institutional investors.

AT&T Trading Up 1.4 %

T opened at $22.13 on Tuesday. The company has a market cap of $158.64 billion, a P/E ratio of 17.99, a price-to-earnings-growth ratio of 3.74 and a beta of 0.60. The company has a fifty day moving average price of $21.26 and a two-hundred day moving average price of $19.19. 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 Inc. has a 1-year low of $14.91 and a 1-year high of $22.58.

AT&T (NYSE:T) last posted 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 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 prior year, the business earned $0.64 EPS. The firm’s revenue for the quarter was down .5% on a year-over-year basis. Analysts predict that AT&T Inc. will post 2.21 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be given a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 5.02%. The ex-dividend date of this dividend is Thursday, October 10th. AT&T’s payout ratio is currently 90.24%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on T shares. TD Cowen upped their price objective on shares of AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. raised their price objective on AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Daiwa America raised shares of AT&T to a “hold” rating in a report on Friday, July 26th. Redburn Atlantic upgraded AT&T to a “strong sell” rating in a report on Monday, September 16th. Finally, Tigress Financial lifted their target price on AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, September 27th. One equities research 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’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target 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.