Prossimo Advisors LLC Has $642,000 Position in AT&T Inc. (NYSE:T)

Prossimo Advisors LLC increased its stake in shares of AT&T Inc. (NYSE:T) by 4.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,162 shares of the technology company’s stock after buying an additional 1,255 shares during the quarter. Prossimo Advisors LLC’s holdings in AT&T were worth $642,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Riggs Asset Managment Co. Inc. grew its position in AT&T by 356.5% during the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after buying an additional 1,116 shares in the last quarter. American Capital Advisory LLC lifted its stake in 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 during the last quarter. Reston Wealth Management LLC bought a new stake in AT&T during the third quarter worth $35,000. Altshuler Shaham Ltd bought a new stake in AT&T during the second quarter worth $30,000. Finally, Marquette Asset Management LLC bought a new stake in AT&T during the third quarter worth $36,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Down 1.9 %

Shares of NYSE:T opened at $22.12 on Friday. The firm has a market cap of $158.72 billion, a P/E ratio of 17.98, a P/E/G ratio of 3.38 and a beta of 0.59. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. AT&T Inc. has a 12-month low of $15.46 and a 12-month high of $22.73. The business has a fifty day simple moving average of $21.47 and a 200 day simple moving average of $19.33.

AT&T (NYSE:T) last announced its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (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 analyst estimates of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. AT&T’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period last year, the company earned $0.64 EPS. Analysts predict that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were issued a dividend of $0.2775 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 5.02%. AT&T’s payout ratio is currently 90.24%.

Analyst Ratings Changes

Several equities research analysts have weighed in on T shares. Hsbc Global Res upgraded AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Oppenheimer upped their target price on AT&T from $23.00 to $24.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. upped their target price on AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Scotiabank cut AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Finally, Barclays increased their price target on AT&T from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, AT&T currently 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.