Assetmark Inc. Has $4.29 Million Holdings in AT&T Inc. (NYSE:T)

Assetmark Inc. grew its position in AT&T Inc. (NYSE:T) by 62.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 194,924 shares of the technology company’s stock after purchasing an additional 74,607 shares during the quarter. Assetmark Inc.’s holdings in AT&T were worth $4,288,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in T. Riggs Asset Managment Co. Inc. grew its position in shares of AT&T by 356.5% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after purchasing an additional 1,116 shares in the last quarter. American Capital Advisory LLC increased its stake in AT&T by 107.5% during the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after acquiring an additional 807 shares during the period. Reston Wealth Management LLC acquired a new position in AT&T in the 3rd quarter valued at $35,000. Altshuler Shaham Ltd bought a new stake in shares of AT&T during the 2nd quarter valued at $30,000. Finally, Marquette Asset Management LLC acquired a new stake in shares of AT&T during the 3rd quarter worth $36,000. Institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

Shares of NYSE T opened at $22.15 on Wednesday. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $158.93 billion, a PE ratio of 17.81, a P/E/G ratio of 3.35 and a beta of 0.59. The firm has a fifty day simple moving average of $21.75 and a 200 day simple moving average of $19.60. AT&T Inc. has a twelve month low of $15.51 and a twelve month high of $22.73.

AT&T (NYSE:T) last released its earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.57 by $0.03. The business had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The firm’s revenue was down .5% on a year-over-year basis. During the same quarter last year, the firm posted $0.64 earnings per share. On average, sell-side analysts forecast that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 5.01%. The ex-dividend date was Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is currently 90.24%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Tigress Financial upped their price objective on shares of AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Royal Bank of Canada reiterated a “sector perform” rating and set a $22.00 price target on shares of AT&T in a research report on Thursday, October 24th. Barclays boosted their price objective on shares of AT&T from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Redburn Atlantic raised AT&T to a “strong sell” rating in a report on Monday, September 16th. Finally, JPMorgan Chase & Co. lifted their price target on AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target 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.