Adell Harriman & Carpenter Inc. Raises Stake in AT&T Inc. (NYSE:T)

Adell Harriman & Carpenter Inc. raised its holdings in shares of AT&T Inc. (NYSE:T) by 17.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 142,623 shares of the technology company’s stock after acquiring an additional 20,950 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in AT&T were worth $3,138,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in T. Valmark Advisers Inc. boosted its position in AT&T by 8.1% in the 3rd quarter. Valmark Advisers Inc. now owns 21,087 shares of the technology company’s stock worth $464,000 after purchasing an additional 1,581 shares in the last quarter. MONECO Advisors LLC grew its position in AT&T by 13.9% during the third quarter. MONECO Advisors LLC now owns 44,122 shares of the technology company’s stock valued at $971,000 after buying an additional 5,387 shares during the period. Diversify Advisory Services LLC raised its position in shares of AT&T by 23.0% in the third quarter. Diversify Advisory Services LLC now owns 66,682 shares of the technology company’s stock worth $1,434,000 after acquiring an additional 12,490 shares during the period. Integrated Advisors Network LLC increased its stake in shares of AT&T by 2.5% in the 3rd quarter. Integrated Advisors Network LLC now owns 84,748 shares of the technology company’s stock valued at $1,864,000 after purchasing an additional 2,061 shares in the last quarter. Finally, Legacy Wealth Management Inc raised its holdings in AT&T by 4.5% in the 3rd quarter. Legacy Wealth Management Inc now owns 93,368 shares of the technology company’s stock worth $2,054,000 after purchasing an additional 4,010 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Performance

NYSE:T opened at $22.18 on Wednesday. AT&T Inc. has a 1-year low of $14.91 and a 1-year high of $22.58. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. The firm’s fifty day moving average price is $21.31 and its 200 day moving average price is $19.23. The firm has a market cap of $159.04 billion, a price-to-earnings ratio of 18.03, a price-to-earnings-growth ratio of 3.74 and a beta of 0.60.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The firm had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. During the same period last year, the business posted $0.64 EPS. AT&T’s quarterly revenue was down .5% on a year-over-year basis. On average, sell-side analysts expect that AT&T Inc. will post 2.21 EPS for the current year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 5.00%. The ex-dividend date of this dividend is Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is 90.24%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Citigroup upped their target price on AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Daiwa America raised shares of AT&T to a “hold” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. raised their target price on AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Scotiabank downgraded AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Finally, TD Cowen lifted 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. One analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock 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.