Perigon Wealth Management LLC Buys 29,149 Shares of AT&T Inc. $T

Perigon Wealth Management LLC increased its position in shares of AT&T Inc. (NYSE:T) by 22.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 161,623 shares of the technology company’s stock after buying an additional 29,149 shares during the quarter. Perigon Wealth Management LLC’s holdings in AT&T were worth $4,564,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC acquired a new stake in shares of AT&T during the 2nd quarter worth approximately $5,266,758,000. Norges Bank acquired a new position in shares of AT&T in the second quarter valued at $2,228,655,000. Vanguard Group Inc. lifted its position in AT&T by 1.6% in the second quarter. Vanguard Group Inc. now owns 661,355,210 shares of the technology company’s stock worth $19,139,620,000 after purchasing an additional 10,310,560 shares during the period. Marshall Wace LLP acquired a new stake in AT&T during the second quarter worth $235,422,000. Finally, Alyeska Investment Group L.P. acquired a new stake in AT&T during the first quarter worth $217,268,000. 57.10% of the stock is currently owned by institutional investors.

AT&T Trading Up 0.0%

Shares of T stock opened at $24.66 on Monday. The company has a market capitalization of $174.85 billion, a P/E ratio of 8.01, a P/E/G ratio of 1.44 and a beta of 0.38. AT&T Inc. has a 12-month low of $21.38 and a 12-month high of $29.79. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 1.01. The firm has a 50-day moving average price of $25.07 and a 200 day moving average price of $27.01.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, hitting the consensus estimate of $0.54. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The company had revenue of $30.71 billion during the quarter, compared to analyst estimates of $30.85 billion. During the same quarter last year, the business posted $0.60 earnings per share. The company’s revenue was up 1.7% on a year-over-year basis. Research analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 12th will be given a $0.2775 dividend. The ex-dividend date is Monday, January 12th. This represents a $1.11 annualized dividend and a yield of 4.5%. AT&T’s payout ratio is presently 36.04%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Sanford C. Bernstein increased their price objective on shares of AT&T from $31.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, September 4th. KeyCorp raised shares of AT&T from a “sector weight” rating to an “overweight” rating and set a $30.00 target price on the stock in a research note on Tuesday, November 11th. The Goldman Sachs Group dropped their price target on shares of AT&T from $33.00 to $29.00 and set a “buy” rating for the company in a research report on Friday, December 19th. Wall Street Zen downgraded AT&T from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Morgan Stanley dropped their target price on AT&T from $32.00 to $30.00 and set an “overweight” rating for the company in a report on Wednesday, December 10th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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.