Fortis Group Advisors LLC Increases Holdings in AT&T Inc. (NYSE:T)

Fortis Group Advisors LLC increased its position in shares of AT&T Inc. (NYSE:T) by 13.0% in the third quarter, HoldingsChannel reports. The firm owned 50,963 shares of the technology company’s stock after acquiring an additional 5,880 shares during the quarter. Fortis Group Advisors LLC’s holdings in AT&T were worth $1,121,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Riggs Asset Managment Co. Inc. boosted its position in AT&T by 356.5% in 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 position in shares of AT&T by 107.5% during the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after purchasing an additional 807 shares in the last quarter. Altshuler Shaham Ltd acquired a new position in AT&T in the 2nd quarter valued at $30,000. Marquette Asset Management LLC purchased a new position in AT&T in the 3rd quarter valued at $36,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in AT&T by 176.6% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock worth $35,000 after purchasing an additional 1,192 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

T has been the topic of several recent analyst reports. Redburn Atlantic raised AT&T to a “strong sell” rating in a research note on Monday, September 16th. Citigroup increased their target price on shares of AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Evercore ISI boosted their price target on shares of AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a research note on Thursday, July 25th. 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 report on Friday, September 27th. Finally, The Goldman Sachs Group started coverage on AT&T in a research report on Monday, July 1st. They issued a “buy” rating and a $22.00 target price for the company. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $22.69.

AT&T Stock Performance

NYSE T traded down $0.15 during trading hours on Tuesday, hitting $21.51. 11,150,768 shares of the stock were exchanged, compared to its average volume of 35,389,320. AT&T Inc. has a 12-month low of $14.74 and a 12-month high of $22.34. The stock has a 50-day moving average of $20.99 and a 200 day moving average of $19.01. The company has a market cap of $154.23 billion, a price-to-earnings ratio of 12.45, a price-to-earnings-growth ratio of 3.73 and a beta of 0.60. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The firm had revenue of $29.80 billion for the quarter, compared to the consensus estimate of $30.05 billion. During the same period in the previous year, the business earned $0.63 earnings per share. The company’s revenue for the quarter was down .3% compared to the same quarter last year. As a group, equities research analysts forecast that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be given a $0.2775 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.16%. AT&T’s dividend payout ratio is currently 63.79%.

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.