Ballentine Partners LLC Has $1.82 Million Stake in AT&T Inc. (NYSE:T)

Ballentine Partners LLC increased its stake in shares of AT&T Inc. (NYSE:T) by 4.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,556 shares of the technology company’s stock after buying an additional 3,586 shares during the quarter. Ballentine Partners LLC’s holdings in AT&T were worth $1,816,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Strategic Financial Concepts LLC lifted its holdings in shares of AT&T by 227.6% during the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $25,000 after acquiring an additional 91,578 shares during the period. Riggs Asset Managment Co. Inc. raised its position in AT&T by 356.5% during the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after purchasing an additional 1,116 shares in the last quarter. American Capital Advisory LLC lifted its stake in AT&T by 107.5% during the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after purchasing an additional 807 shares during the last quarter. Altshuler Shaham Ltd acquired a new stake in shares of AT&T in the 2nd quarter valued at $30,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its stake in shares of AT&T by 176.6% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock valued at $35,000 after purchasing an additional 1,192 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

NYSE:T opened at $21.84 on Friday. The company has a market capitalization of $156.60 billion, a PE ratio of 11.74, a P/E/G ratio of 3.67 and a beta of 0.60. AT&T Inc. has a fifty-two week low of $14.74 and a fifty-two week high of $22.58. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. The company has a 50 day simple moving average of $21.15 and a two-hundred day simple moving average of $19.08.

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

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 5.08%. The ex-dividend date is Thursday, October 10th. AT&T’s payout ratio is 59.68%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Barclays raised their price objective on AT&T from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday. Royal Bank of Canada restated a “sector perform” rating and issued a $22.00 price target on shares of AT&T in a research note on Thursday. The Goldman Sachs Group began coverage on shares of AT&T in a research report on Monday, July 1st. They set a “buy” rating and a $22.00 price objective for the company. Citigroup boosted their target price on shares of AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Finally, Tigress Financial increased their price target on 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, eight have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average 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.