AT&T Inc. (NYSE:T) Shares Bought by Turtle Creek Wealth Advisors LLC

Turtle Creek Wealth Advisors LLC lifted its holdings in AT&T Inc. (NYSE:T) by 3.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,379 shares of the technology company’s stock after buying an additional 2,863 shares during the quarter. Turtle Creek Wealth Advisors LLC’s holdings in AT&T were worth $1,922,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in T. Riggs Asset Managment Co. Inc. lifted its stake in AT&T by 356.5% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after buying an additional 1,116 shares in the last quarter. American Capital Advisory LLC grew its holdings in shares of 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 buying an additional 807 shares in the last quarter. Reston Wealth Management LLC acquired a new stake in AT&T during the third quarter worth approximately $35,000. Altshuler Shaham Ltd acquired a new position in AT&T in the 2nd quarter valued at $30,000. Finally, Marquette Asset Management LLC purchased a new position in shares of AT&T during the 3rd quarter worth $36,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on T shares. Redburn Atlantic upgraded shares of AT&T to a “strong sell” rating in a report on Monday, September 16th. Tigress Financial lifted their price target on shares of AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a report on Friday, September 27th. TD Cowen upped their price objective on AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Moffett Nathanson increased their target price on AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Finally, JPMorgan Chase & Co. boosted their price target on AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.40.

AT&T Stock Performance

T stock traded up $0.43 during mid-day trading on Friday, reaching $22.68. The company had a trading volume of 40,207,263 shares, compared to its average volume of 35,514,727. The stock’s 50-day simple moving average is $21.89 and its two-hundred day simple moving average is $19.71. The stock has a market capitalization of $162.74 billion, a P/E ratio of 18.45, a P/E/G ratio of 3.35 and a beta of 0.59. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. AT&T Inc. has a one year low of $15.75 and a one year high of $22.75.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The business had revenue of $30.20 billion during the quarter, compared to analyst estimates of $30.50 billion. During the same period in the prior year, the company posted $0.64 EPS. The business’s revenue for the quarter was down .5% compared to the same quarter last year. Research analysts anticipate that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.89%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s payout ratio is currently 90.24%.

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.