Farther Finance Advisors LLC Has $5.65 Million Position in AT&T Inc. $T

Farther Finance Advisors LLC raised its position in AT&T Inc. (NYSE:T) by 15.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 199,978 shares of the technology company’s stock after purchasing an additional 26,421 shares during the period. Farther Finance Advisors LLC’s holdings in AT&T were worth $5,647,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Denali Advisors LLC grew its stake in AT&T by 5.9% in the second quarter. Denali Advisors LLC now owns 401,037 shares of the technology company’s stock valued at $11,606,000 after acquiring an additional 22,394 shares during the period. Tredje AP fonden lifted its holdings in shares of AT&T by 1.8% during the 2nd quarter. Tredje AP fonden now owns 1,221,395 shares of the technology company’s stock valued at $35,347,000 after purchasing an additional 21,720 shares in the last quarter. CHURCHILL MANAGEMENT Corp grew its position in shares of AT&T by 1.5% in the 2nd quarter. CHURCHILL MANAGEMENT Corp now owns 324,104 shares of the technology company’s stock valued at $9,380,000 after purchasing an additional 4,793 shares during the period. Kickstand Ventures LLC. acquired a new position in shares of AT&T in the 2nd quarter valued at approximately $489,000. Finally, Sentry Investment Management LLC increased its stake in AT&T by 153.2% during the 2nd quarter. Sentry Investment Management LLC now owns 22,095 shares of the technology company’s stock worth $625,000 after purchasing an additional 13,370 shares in the last quarter. 57.10% of the stock is owned by institutional investors.

AT&T Trading Up 0.7%

AT&T stock opened at $24.47 on Wednesday. The company has a market cap of $173.44 billion, a price-to-earnings ratio of 7.94, a P/E/G ratio of 1.42 and a beta of 0.38. The firm has a 50-day moving average of $25.16 and a 200-day moving average of $27.08. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.01 and a quick ratio of 0.96. AT&T Inc. has a one year low of $21.38 and a one year high of $29.79.

AT&T (NYSE:T) last released its earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.54. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The business had revenue of $30.71 billion for the quarter, compared to analyst estimates of $30.85 billion. During the same quarter in the prior year, the company posted $0.60 earnings per share. AT&T’s revenue was up 1.7% on a year-over-year basis. On average, equities analysts expect that AT&T Inc. will post 2.14 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 Monday, February 2nd. Stockholders of record on Monday, January 12th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend is Monday, January 12th. AT&T’s dividend payout ratio is presently 36.04%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Scotiabank set a $30.25 price target on shares of AT&T and gave the company a “sector perform” rating in a research note on Monday, October 6th. KeyCorp upgraded shares of AT&T from a “sector weight” rating to an “overweight” rating and set a $30.00 price objective on the stock in a report on Tuesday, November 11th. Royal Bank Of Canada cut their price objective on shares of AT&T from $31.00 to $30.00 and set an “outperform” rating on the stock in a research report on Thursday, October 23rd. Morgan Stanley reduced their target price on shares of AT&T from $32.00 to $30.00 and set an “overweight” rating for the company in a research note on Wednesday, December 10th. Finally, TD Cowen lifted their price target on AT&T from $32.00 to $33.00 and gave the company a “hold” rating in a research note on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $30.24.

AT&T Company Profile

AT&T Inc is a global telecommunications company that provides a broad range of communications and digital entertainment services. Its core activities include consumer and business wireless services, broadband and fiber internet, and network infrastructure. The company operates branded wireless services through AT&T Mobility and deploys fixed-line and fiber networks to deliver high-speed internet and related home services.

AT&T’s product and service portfolio spans mobile voice and data plans, smartphones and device sales, home internet (including fiber-to-the-home where available), and managed connectivity solutions for enterprise customers.