F M Investments LLC Buys New Shares in AT&T Inc. (NYSE:T)

F M Investments LLC purchased a new stake in shares of AT&T Inc. (NYSE:T) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,712 shares of the technology company’s stock, valued at approximately $223,000.

A number of other hedge funds have also recently bought and sold shares of T. Riggs Asset Managment Co. Inc. lifted its stake 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 valued at $27,000 after purchasing an additional 1,116 shares during the last quarter. American Capital Advisory LLC raised its stake in AT&T by 107.5% in the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after buying an additional 807 shares during the period. Reston Wealth Management LLC acquired a new stake in shares of AT&T in the third quarter valued at approximately $35,000. Altshuler Shaham Ltd bought a new position in shares of AT&T during the 2nd quarter worth approximately $30,000. Finally, Marquette Asset Management LLC acquired a new position in shares of AT&T during the 3rd quarter worth approximately $36,000. 57.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Evercore ISI raised their price target on AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a report on Thursday, October 24th. Scotiabank downgraded shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Wells Fargo & Company lowered their price target on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. JPMorgan Chase & Co. raised their price objective on shares of AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Finally, Citigroup upped their target price on AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $23.40.

AT&T Stock Performance

T opened at $22.12 on Monday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. AT&T Inc. has a 52-week low of $15.46 and a 52-week high of $22.73. The firm has a market cap of $158.72 billion, a P/E ratio of 17.98, a price-to-earnings-growth ratio of 3.38 and a beta of 0.59. The business’s fifty day moving average is $21.47 and its 200-day moving average is $19.36.

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

AT&T Dividend Announcement

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

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.