FCG Investment Co Purchases New Holdings in AT&T Inc. (NYSE:T)

FCG Investment Co acquired a new stake in AT&T Inc. (NYSE:T) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 12,164 shares of the technology company’s stock, valued at approximately $268,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Davidson Kempner Capital Management LP bought a new stake in AT&T in the second quarter valued at approximately $23,888,000. Talbot Financial LLC bought a new position in shares of AT&T during the third quarter worth approximately $7,438,000. Mackenzie Financial Corp increased its stake in shares of AT&T by 12.2% during the second quarter. Mackenzie Financial Corp now owns 2,641,856 shares of the technology company’s stock worth $50,486,000 after purchasing an additional 288,093 shares during the period. DRW Securities LLC increased its stake in shares of AT&T by 642.2% during the second quarter. DRW Securities LLC now owns 104,309 shares of the technology company’s stock worth $1,997,000 after purchasing an additional 90,255 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its stake in shares of AT&T by 4.3% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 1,037,529 shares of the technology company’s stock worth $19,827,000 after purchasing an additional 43,062 shares during the period. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

Shares of AT&T stock opened at $22.05 on Monday. AT&T Inc. has a one year low of $14.91 and a one year high of $22.58. The firm has a market capitalization of $158.10 billion, a price-to-earnings ratio of 17.75, a PEG ratio of 3.74 and a beta of 0.60. The business has a 50-day simple moving average of $21.20 and a 200 day simple moving average of $19.15. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67.

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 13.97% and a net margin of 7.42%. 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. On average, research analysts anticipate that AT&T Inc. will post 2.21 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be paid 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 5.03%. AT&T’s dividend payout ratio (DPR) is currently 90.24%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on T shares. Daiwa America upgraded AT&T to a “hold” rating in a research note on Friday, July 26th. Hsbc Global Res raised AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. Oppenheimer raised their target price on AT&T from $23.00 to $24.00 and gave the company an “outperform” rating in a report on Thursday. The Goldman Sachs Group started coverage on AT&T in a report on Monday, July 1st. They issued a “buy” rating and a $22.00 target price on the stock. Finally, Redburn Atlantic raised AT&T to a “strong sell” rating in a report on Monday, September 16th. One investment 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $23.40.

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.