Atalanta Sosnoff Capital LLC Acquires Shares of 9,334 AT&T Inc. (NYSE:T)

Atalanta Sosnoff Capital LLC acquired a new stake in AT&T Inc. (NYSE:T) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 9,334 shares of the technology company’s stock, valued at approximately $252,000.

A number of other large investors also recently added to or reduced their stakes in the business. Newton One Investments LLC purchased a new stake in shares of AT&T during the second quarter worth about $27,000. IronBridge Private Wealth LLC purchased a new stake in shares of AT&T during the first quarter worth about $30,000. Activest Wealth Management purchased a new stake in shares of AT&T during the second quarter worth about $35,000. Interactive Financial Advisors increased its position in shares of AT&T by 36.0% during the second quarter. Interactive Financial Advisors now owns 1,497 shares of the technology company’s stock worth $83,000 after acquiring an additional 396 shares during the last quarter. Finally, Cypress Point Wealth Management LLC increased its position in shares of AT&T by 4,411.8% during the second quarter. Cypress Point Wealth Management LLC now owns 1,534 shares of the technology company’s stock worth $44,000 after acquiring an additional 1,500 shares during the last quarter. 51.42% of the stock is currently owned by institutional investors.

A number of analysts have recently issued reports on the company. Citigroup dropped their target price on AT&T from $32.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, October 19th. KeyCorp raised AT&T from an “underweight” rating to a “sector weight” rating in a report on Thursday, October 14th. Moffett Nathanson raised AT&T from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $23.00 to $28.00 in a report on Thursday, October 7th. Barclays lowered their price objective on AT&T from $34.00 to $30.00 and set an “equal weight” rating for the company in a report on Monday, October 11th. Finally, Loop Capital started coverage on AT&T in a report on Monday, September 20th. They issued a “hold” rating and a $30.00 price objective for the company. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $31.13.

In other AT&T news, Director Stephen J. Luczo acquired 100,000 shares of AT&T stock in a transaction dated Monday, November 8th. The stock was acquired at an average cost of $25.04 per share, for a total transaction of $2,504,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.08% of the company’s stock.

Shares of T stock opened at $24.47 on Thursday. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 0.86. The business has a 50 day moving average of $25.85 and a two-hundred day moving average of $27.66. AT&T Inc. has a 52 week low of $23.96 and a 52 week high of $33.88. The company has a market cap of $174.72 billion, a P/E ratio of 203.93, a PEG ratio of 2.01 and a beta of 0.70.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, October 20th. The technology company reported $0.87 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.09. The business had revenue of $39.90 billion during the quarter, compared to the consensus estimate of $42.37 billion. AT&T had a return on equity of 13.47% and a net margin of 0.67%. The business’s revenue was down 6.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.76 earnings per share. Analysts expect that AT&T Inc. will post 3.37 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 1st. Stockholders of record on Monday, October 11th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, October 7th. This represents a $2.08 annualized dividend and a dividend yield of 8.50%. AT&T’s dividend payout ratio is presently 1,733.48%.

AT&T Company Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications media and technology service. It operates through the following segments: Communications, WarnerMedia, and Latin America. The Communications segment provides services to businesses and consumers located in the U.S., or in U.S.

Further Reading: Momentum Investing

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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