Cavalier Investments LLC Has $2.62 Million Position in AT&T Inc. (NYSE:T)

Cavalier Investments LLC raised its holdings in shares of AT&T Inc. (NYSE:T) by 6.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 119,116 shares of the technology company’s stock after purchasing an additional 7,420 shares during the quarter. Cavalier Investments LLC’s holdings in AT&T were worth $2,621,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Aviance Capital Partners LLC raised its stake in AT&T by 7.4% in the 1st 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 in the last quarter. Diversified Trust Co grew its position in AT&T by 12.5% during the first quarter. Diversified Trust Co now owns 147,249 shares of the technology company’s stock worth $2,592,000 after buying an additional 16,355 shares in the last quarter. Miracle Mile Advisors LLC grew its position in AT&T by 3.1% during the first quarter. Miracle Mile Advisors LLC now owns 35,699 shares of the technology company’s stock worth $628,000 after buying an additional 1,061 shares in the last quarter. Claro Advisors LLC raised its holdings in AT&T by 5.8% in the 1st quarter. Claro Advisors LLC now owns 26,711 shares of the technology company’s stock valued at $470,000 after acquiring an additional 1,474 shares in the last quarter. Finally, Cullinan Associates Inc. raised its holdings in AT&T by 42.4% in the 1st quarter. Cullinan Associates Inc. now owns 20,156 shares of the technology company’s stock valued at $355,000 after acquiring an additional 6,000 shares in the last quarter. 57.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. TD Cowen boosted their price target on AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $22.00 price target on shares of AT&T in a research note on Thursday. Tigress Financial boosted their price objective on AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Hsbc Global Res raised AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. Finally, Scotiabank cut AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.40.

AT&T Stock Performance

NYSE T opened at $21.83 on Monday. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. The company has a fifty day simple moving average of $21.20 and a 200 day simple moving average of $19.15. AT&T Inc. has a 12-month low of $14.74 and a 12-month high of $22.58. The company has a market cap of $156.52 billion, a P/E ratio of 11.74, a PEG ratio of 3.67 and a beta of 0.60.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The business had revenue of $30.20 billion during 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 quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.64 EPS. Sell-side analysts predict that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 5.08%. The ex-dividend date of this dividend is Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

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.