San Luis Wealth Advisors LLC Has $1.03 Million Stock Position in AT&T Inc. (NYSE:T)

San Luis Wealth Advisors LLC boosted its stake in shares of AT&T Inc. (NYSE:T) by 9.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 46,809 shares of the technology company’s stock after buying an additional 4,066 shares during the quarter. San Luis Wealth Advisors LLC’s holdings in AT&T were worth $1,030,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in AT&T by 0.4% in the first quarter. Vanguard Group Inc. now owns 624,994,998 shares of the technology company’s stock valued at $10,999,912,000 after buying an additional 2,588,539 shares during the period. Bank of New York Mellon Corp raised its stake in AT&T by 7.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock valued at $1,549,375,000 after acquiring an additional 5,592,123 shares during the period. Legal & General Group Plc lifted its holdings in AT&T by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company’s stock valued at $1,148,689,000 after purchasing an additional 1,569,374 shares during the last quarter. Ameriprise Financial Inc. boosted its position in AT&T by 2.0% during the second quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock worth $985,307,000 after purchasing an additional 1,007,228 shares during the period. Finally, LSV Asset Management lifted its stake in shares of AT&T by 1.1% during the 2nd quarter. LSV Asset Management now owns 30,092,610 shares of the technology company’s stock worth $575,070,000 after buying an additional 315,580 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on T shares. Daiwa America raised shares of AT&T to a “hold” rating in a report on Friday, July 26th. JPMorgan Chase & Co. increased their target price on AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Barclays boosted their price target on AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. UBS Group reiterated a “buy” rating and set a $24.00 price objective on shares of AT&T in a research report on Tuesday, June 18th. Finally, Tigress Financial upped their price target on shares of AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, September 27th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $22.38.

AT&T Stock Performance

NYSE:T opened at $21.23 on Friday. AT&T Inc. has a twelve month low of $14.23 and a twelve month high of $22.34. 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 stock’s 50-day simple moving average is $20.67 and its 200 day simple moving average is $18.79. The firm has a market capitalization of $152.22 billion, a PE ratio of 12.20, a price-to-earnings-growth ratio of 3.74 and a beta of 0.60.

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

AT&T Dividend Announcement

The company also recently disclosed 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 dividend yield of 5.23%. The ex-dividend date is Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is 63.79%.

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.