AT&T Inc. (NYSE:T) Shares Purchased by Mitchell & Pahl Private Wealth LLC

Mitchell & Pahl Private Wealth LLC raised its holdings in AT&T Inc. (NYSE:T) by 5.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 85,025 shares of the technology company’s stock after purchasing an additional 4,678 shares during the period. Mitchell & Pahl Private Wealth LLC’s holdings in AT&T were worth $1,871,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in AT&T by 0.4% in the first quarter. Vanguard Group Inc. now owns 624,994,998 shares of the technology company’s stock worth $10,999,912,000 after purchasing an additional 2,588,539 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in AT&T by 7.4% during 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 buying an additional 5,592,123 shares during the last quarter. Legal & General Group Plc grew its position in shares of AT&T by 2.7% in the 2nd quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company’s stock worth $1,148,689,000 after acquiring an additional 1,569,374 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of AT&T by 2.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock valued at $985,307,000 after acquiring an additional 1,007,228 shares during the last quarter. Finally, LSV Asset Management raised its position in shares of AT&T by 1.1% during the 2nd quarter. LSV Asset Management now owns 30,092,610 shares of the technology company’s stock valued at $575,070,000 after acquiring an additional 315,580 shares in the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Trading Up 0.0 %

NYSE T traded up $0.01 on Thursday, hitting $21.72. 6,973,771 shares of the company were exchanged, compared to its average volume of 35,488,227. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. AT&T Inc. has a twelve month low of $14.31 and a twelve month high of $22.34. The firm has a market capitalization of $155.74 billion, a P/E ratio of 11.68, a price-to-earnings-growth ratio of 3.62 and a beta of 0.60. The company’s 50 day moving average price is $20.86 and its 200-day moving average price is $18.91.

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 firm had revenue of $29.80 billion for 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%. The company’s quarterly revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.63 EPS. Analysts predict that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 5.11%. The ex-dividend date of this dividend is Thursday, October 10th. AT&T’s payout ratio is presently 59.68%.

Wall Street Analysts Forecast Growth

T has been the topic of several research reports. Tigress Financial increased their price objective on shares of AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Daiwa America upgraded AT&T to a “hold” rating in a research report on Friday, July 26th. Moffett Nathanson boosted their price objective on AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Citigroup increased their target price on AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Finally, Wells Fargo & Company boosted their price target on shares of AT&T from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $22.69.

About AT&T

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.