Towerpoint Wealth LLC Buys New Shares in AT&T Inc. (NYSE:T)

Towerpoint Wealth LLC purchased a new position in AT&T Inc. (NYSE:T) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,818 shares of the technology company’s stock, valued at approximately $216,000.

Several other institutional investors have also recently made changes to their positions in the stock. Bridgefront Capital LLC grew its position in shares of AT&T by 151.6% during the fourth quarter. Bridgefront Capital LLC now owns 26,403 shares of the technology company’s stock worth $443,000 after purchasing an additional 15,907 shares in the last quarter. Brevan Howard Capital Management LP bought a new stake in shares of AT&T during the fourth quarter valued at approximately $1,694,000. Gotham Asset Management LLC boosted its position in shares of AT&T by 15.7% during the fourth quarter. Gotham Asset Management LLC now owns 959,272 shares of the technology company’s stock worth $16,097,000 after acquiring an additional 130,135 shares during the last quarter. Fort Sheridan Advisors LLC grew its stake in AT&T by 13.3% during the fourth quarter. Fort Sheridan Advisors LLC now owns 96,523 shares of the technology company’s stock valued at $1,620,000 after acquiring an additional 11,298 shares in the last quarter. Finally, Palestra Capital Management LLC purchased a new position in AT&T during the fourth quarter valued at $41,600,000. Institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on T shares. TD Cowen raised their price objective on AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. The Goldman Sachs Group started coverage on AT&T in a report on Monday, July 1st. They set a “buy” rating and a $22.00 price target for the company. Moffett Nathanson upped their price objective on AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Daiwa America raised shares of AT&T to a “hold” rating in a report on Friday, July 26th. Finally, Barclays upped their price target on shares of AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. One 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 company’s stock. According to data from MarketBeat.com, AT&T has an average rating of “Moderate Buy” and a consensus price target of $22.38.

AT&T Trading Up 0.6 %

T stock traded up $0.12 during trading on Friday, hitting $21.34. The company had a trading volume of 3,832,165 shares, compared to its average volume of 35,586,980. AT&T Inc. has a 52-week low of $14.23 and a 52-week high of $22.34. The company has a 50 day simple moving average of $20.67 and a 200-day simple moving average of $18.79. The firm has a market capitalization of $153.01 billion, a P/E ratio of 12.20, a PEG ratio of 3.74 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 the consensus estimate of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The firm had revenue of $29.80 billion during the quarter, compared to the consensus estimate of $30.05 billion. During the same quarter in the previous year, the firm posted $0.63 earnings per share. The company’s revenue was down .3% on a year-over-year basis. As a group, research analysts forecast that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be issued 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 5.20%. AT&T’s 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.