New World Advisors LLC Invests $217,000 in AT&T Inc. (NYSE:T)

New World Advisors LLC bought a new position in AT&T Inc. (NYSE:T) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 9,842 shares of the technology company’s stock, valued at approximately $217,000.

A number of other hedge funds also recently bought and sold shares of the business. Independence Bank of Kentucky raised its stake in AT&T by 48.4% in the first quarter. Independence Bank of Kentucky now owns 6,243 shares of the technology company’s stock worth $110,000 after buying an additional 2,037 shares in the last quarter. Breakwater Capital Group lifted its stake in shares of AT&T by 8.7% in the 1st quarter. Breakwater Capital Group now owns 33,432 shares of the technology company’s stock valued at $588,000 after purchasing an additional 2,662 shares during the period. Roberts Wealth Advisors LLC boosted its position in shares of AT&T by 6.1% during the first quarter. Roberts Wealth Advisors LLC now owns 82,700 shares of the technology company’s stock valued at $1,343,000 after purchasing an additional 4,753 shares in the last quarter. Aviance Capital Partners LLC grew its stake in AT&T by 7.4% in the first quarter. Aviance Capital Partners LLC now owns 23,060 shares of the technology company’s stock worth $406,000 after purchasing an additional 1,595 shares during the period. Finally, Diversified Trust Co raised its holdings in AT&T by 12.5% in the first quarter. Diversified Trust Co now owns 147,249 shares of the technology company’s stock worth $2,592,000 after purchasing an additional 16,355 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on T shares. Redburn Atlantic upgraded shares of AT&T to a “strong sell” rating in a report on Monday, September 16th. Citigroup boosted their target price on AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Daiwa America upgraded AT&T to a “hold” rating in a report on Friday, July 26th. Moffett Nathanson upped their price target on shares of AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $22.00 price objective on shares of AT&T in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $23.40.

AT&T Price Performance

T stock traded down $0.37 during midday trading on Friday, hitting $21.83. The company’s stock had a trading volume of 26,050,390 shares, compared to its average volume of 35,713,988. The firm has a market capitalization of $156.52 billion, a price-to-earnings ratio of 11.74, a price-to-earnings-growth ratio of 3.67 and a beta of 0.60. The company has a 50 day moving average of $21.20 and a two-hundred day moving average of $19.13. AT&T Inc. has a 12 month low of $14.74 and a 12 month high of $22.58. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The business had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The company’s revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 EPS. On average, analysts expect that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The business also recently disclosed 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 is Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 5.08%. 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.