Financial Consulate Inc. Makes New $600,000 Investment in AT&T Inc. $T

Financial Consulate Inc. purchased a new position in AT&T Inc. (NYSE:T) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 21,241 shares of the technology company’s stock, valued at approximately $600,000.

A number of other hedge funds also recently made changes to their positions in the stock. Front Row Advisors LLC purchased a new stake in AT&T during the second quarter valued at about $25,000. O Brien Wealth Partners LLC bought a new position in shares of AT&T during the 2nd quarter valued at about $26,000. Kennebec Savings Bank raised its holdings in shares of AT&T by 412.1% during the 2nd quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock valued at $28,000 after buying an additional 783 shares in the last quarter. Solstein Capital LLC lifted its position in AT&T by 217.3% in the 2nd quarter. Solstein Capital LLC now owns 952 shares of the technology company’s stock worth $28,000 after buying an additional 652 shares during the last quarter. Finally, Curio Wealth LLC boosted its stake in AT&T by 26,100.0% in the second quarter. Curio Wealth LLC now owns 1,048 shares of the technology company’s stock worth $30,000 after buying an additional 1,044 shares in the last quarter. 57.10% of the stock is owned by institutional investors.

AT&T Stock Performance

Shares of NYSE:T opened at $24.88 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 1.01. The company has a 50-day moving average price of $25.01 and a 200-day moving average price of $26.93. The company has a market cap of $176.39 billion, a price-to-earnings ratio of 8.08, a price-to-earnings-growth ratio of 1.45 and a beta of 0.39. AT&T Inc. has a 12 month low of $21.38 and a 12 month high of $29.79.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.54. The company had revenue of $30.71 billion for the quarter, compared to the consensus estimate of $30.85 billion. AT&T had a return on equity of 12.72% and a net margin of 17.87%.AT&T’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.60 EPS. As a group, equities analysts anticipate that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 12th will be issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date is Monday, January 12th. AT&T’s dividend payout ratio is currently 36.04%.

Analyst Ratings Changes

Several research analysts have commented on T shares. Royal Bank Of Canada decreased their price target on shares of AT&T from $31.00 to $30.00 and set an “outperform” rating on the stock in a research note on Thursday, October 23rd. UBS Group reiterated a “buy” rating on shares of AT&T in a research report on Thursday, October 23rd. Loop Capital set a $29.00 price target on shares of AT&T in a research note on Friday, December 19th. Citigroup reduced their price objective on AT&T from $32.00 to $29.00 and set a “buy” rating on the stock in a research note on Monday, December 22nd. Finally, Morgan Stanley decreased their price objective on AT&T from $32.00 to $30.00 and set an “overweight” rating on the stock in a report on Wednesday, December 10th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $30.24.

AT&T 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.