Regatta Capital Group LLC Purchases 2,604 Shares of AT&T Inc. (NYSE:T)

Regatta Capital Group LLC boosted its position in shares of AT&T Inc. (NYSE:T) by 1.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 148,656 shares of the technology company’s stock after buying an additional 2,604 shares during the period. Regatta Capital Group LLC’s holdings in AT&T were worth $3,270,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Riggs Asset Managment Co. Inc. grew its stake in shares of 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 worth $27,000 after buying an additional 1,116 shares in the last quarter. American Capital Advisory LLC lifted its holdings in shares of AT&T by 107.5% in the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after acquiring an additional 807 shares during the last quarter. Altshuler Shaham Ltd bought a new position in shares of AT&T in the 2nd quarter valued at about $30,000. Marquette Asset Management LLC bought a new stake in AT&T during the third quarter worth approximately $36,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in AT&T by 176.6% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock valued at $35,000 after purchasing an additional 1,192 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

T has been the subject of a number of recent research reports. Redburn Atlantic upgraded AT&T to a “strong sell” rating in a report on Monday, September 16th. The Goldman Sachs Group assumed coverage on shares of AT&T in a research note on Monday, July 1st. They set a “buy” rating and a $22.00 price objective for the company. Moffett Nathanson boosted their price objective on shares of AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Scotiabank lowered shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, Wells Fargo & Company upped their price target on shares of AT&T from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $22.69.

AT&T Stock Up 1.2 %

NYSE:T opened at $21.53 on Wednesday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. AT&T Inc. has a 1-year low of $14.23 and a 1-year high of $22.34. The company has a 50-day moving average of $20.81 and a 200 day moving average of $18.89. The firm has a market cap of $154.34 billion, a PE ratio of 11.57, a price-to-earnings-growth ratio of 3.62 and a beta of 0.60.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, hitting 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 analysts’ expectations of $30.05 billion. The company’s revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.63 EPS. As a group, research analysts anticipate that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be given a dividend of $0.2775 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.11 annualized dividend and a yield of 5.16%. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

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.