AT&T Inc. (NYSE:T) Position Increased by CFM Wealth Partners LLC

CFM Wealth Partners LLC grew its holdings in shares of AT&T Inc. (NYSE:T) by 3.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 20,737 shares of the technology company’s stock after purchasing an additional 662 shares during the period. CFM Wealth Partners LLC’s holdings in AT&T were worth $456,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of T. Vanguard Group Inc. increased its position 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 worth $10,999,912,000 after buying an additional 2,588,539 shares during the period. Bank of New York Mellon Corp lifted its position 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 purchasing an additional 5,592,123 shares during the last quarter. Legal & General Group Plc boosted its stake 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 period. Ameriprise Financial Inc. grew its position in AT&T by 2.0% in the 2nd 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 last quarter. Finally, LSV Asset Management increased its stake in shares of AT&T by 1.1% in the second quarter. LSV Asset Management now owns 30,092,610 shares of the technology company’s stock valued at $575,070,000 after purchasing an additional 315,580 shares during the period. 57.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Royal Bank of Canada increased their price objective on AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a report on Thursday, July 25th. TD Cowen raised their price target on AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a report on Thursday, July 25th. UBS Group reaffirmed a “buy” rating and issued a $24.00 price objective on shares of AT&T in a report on Tuesday, June 18th. Oppenheimer raised their target price on shares of AT&T from $21.00 to $23.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a research note on Monday, September 16th. One 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. Based on data from MarketBeat.com, AT&T has an average rating of “Moderate Buy” and a consensus price target of $22.69.

AT&T Price Performance

T stock opened at $21.53 on Wednesday. The firm has a 50-day moving average of $20.81 and a two-hundred day moving average of $18.89. The firm has a market capitalization of $154.34 billion, a PE ratio of 11.57, a P/E/G ratio of 3.62 and a beta of 0.60. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. AT&T Inc. has a one year low of $14.23 and a one year high of $22.34.

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

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be given a dividend of $0.2775 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 5.16%. AT&T’s payout ratio is presently 59.68%.

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.