Plan Group Financial LLC Grows Stock Position in AT&T Inc. (NYSE:T)

Plan Group Financial LLC increased its position in shares of AT&T Inc. (NYSE:T) by 19.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 50,317 shares of the technology company’s stock after buying an additional 8,332 shares during the quarter. Plan Group Financial LLC’s holdings in AT&T were worth $1,107,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. AdvisorNet Financial Inc raised its position in AT&T by 12.3% in the first quarter. AdvisorNet Financial Inc now owns 20,002 shares of the technology company’s stock valued at $352,000 after purchasing an additional 2,186 shares during the period. Global Assets Advisory LLC acquired a new position in shares of AT&T in the first quarter worth $2,436,000. Annex Advisory Services LLC grew its stake in shares of AT&T by 30.0% in the first quarter. Annex Advisory Services LLC now owns 20,299 shares of the technology company’s stock worth $357,000 after acquiring an additional 4,679 shares in the last quarter. Dynamic Advisor Solutions LLC grew its stake in shares of AT&T by 1.1% in the first quarter. Dynamic Advisor Solutions LLC now owns 174,890 shares of the technology company’s stock worth $3,078,000 after acquiring an additional 1,938 shares in the last quarter. Finally, RMR Wealth Builders acquired a new position in shares of AT&T in the first quarter worth $196,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

Shares of NYSE:T opened at $21.86 on Wednesday. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. The company has a market cap of $156.74 billion, a P/E ratio of 12.36, a PEG ratio of 3.73 and a beta of 0.60. AT&T Inc. has a 52 week low of $14.74 and a 52 week high of $22.34. The company has a 50-day moving average price of $21.03 and a 200 day moving average price of $19.04.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The company had revenue of $29.80 billion during the quarter, compared to the consensus estimate of $30.05 billion. During the same period last year, the firm earned $0.63 EPS. The company’s revenue for the quarter was down .3% on a year-over-year basis. Research analysts predict that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be given a dividend of $0.2775 per share. The ex-dividend date is Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.08%. AT&T’s payout ratio is 63.79%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Royal Bank of Canada boosted their price target on shares of AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 25th. TD Cowen boosted their target price on shares of AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Evercore ISI boosted their target price on shares of AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a research note on Thursday, July 25th. Finally, Redburn Atlantic upgraded shares of AT&T to a “strong sell” rating in a research note on Monday, September 16th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $22.69.

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.