GFS Advisors LLC Purchases 161,396 Shares of AT&T Inc. (NYSE:T)

GFS Advisors LLC grew its position in shares of AT&T Inc. (NYSE:T) by 3,098.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 166,605 shares of the technology company’s stock after acquiring an additional 161,396 shares during the period. GFS Advisors LLC’s holdings in AT&T were worth $3,665,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of T. BNP Paribas bought a new position in shares of AT&T during the first quarter valued at about $743,000. Lincoln National Corp increased its position in shares of AT&T by 5.9% during the first quarter. Lincoln National Corp now owns 184,211 shares of the technology company’s stock valued at $3,242,000 after buying an additional 10,266 shares during the period. GSB Wealth Management LLC purchased a new position in shares of AT&T during the first quarter valued at about $227,000. Haverford Trust Co increased its position in shares of AT&T by 2.8% during the first quarter. Haverford Trust Co now owns 56,981 shares of the technology company’s stock valued at $1,003,000 after buying an additional 1,546 shares during the period. Finally, Daiwa Securities Group Inc. increased its position in shares of AT&T by 10.3% during the first quarter. Daiwa Securities Group Inc. now owns 744,205 shares of the technology company’s stock valued at $13,098,000 after buying an additional 69,567 shares during the period. 57.10% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Daiwa America upgraded shares of AT&T to a “hold” rating in a research report on Friday, July 26th. Redburn Atlantic upgraded shares of AT&T to a “strong sell” rating in a research report on Monday, September 16th. Wells Fargo & Company reduced their price target on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. JPMorgan Chase & Co. boosted their price target on shares of AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Finally, Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.40.

AT&T Trading Down 1.9 %

NYSE:T opened at $22.12 on Friday. The company’s 50 day moving average price is $21.47 and its 200-day moving average price is $19.33. AT&T Inc. has a 52 week low of $15.46 and a 52 week high of $22.73. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. The stock has a market cap of $158.72 billion, a price-to-earnings ratio of 17.98, a PEG ratio of 3.38 and a beta of 0.59.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The firm had revenue of $30.20 billion for the quarter, compared to analysts’ expectations of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.64 earnings per share. On average, equities research analysts forecast that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were given a dividend of $0.2775 per share. The ex-dividend date was Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 5.02%. AT&T’s dividend payout ratio (DPR) is 90.24%.

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.