Advisors Asset Management Inc. Has $36.95 Million Holdings in AT&T Inc. (NYSE:T)

Advisors Asset Management Inc. boosted its holdings in shares of AT&T Inc. (NYSE:T) by 2.4% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,679,313 shares of the technology company’s stock after purchasing an additional 39,861 shares during the period. AT&T accounts for approximately 0.7% of Advisors Asset Management Inc.’s portfolio, making the stock its 14th biggest position. Advisors Asset Management Inc.’s holdings in AT&T were worth $36,945,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Chesapeake Wealth Management lifted its position in AT&T by 1.9% during the third quarter. Chesapeake Wealth Management now owns 24,304 shares of the technology company’s stock worth $535,000 after purchasing an additional 460 shares during the period. Socha Financial Group LLC lifted its holdings in shares of AT&T by 2.5% during the 3rd quarter. Socha Financial Group LLC now owns 18,847 shares of the technology company’s stock worth $415,000 after acquiring an additional 461 shares during the period. Essex Savings Bank boosted its position in shares of AT&T by 2.3% during the 3rd quarter. Essex Savings Bank now owns 21,636 shares of the technology company’s stock worth $476,000 after acquiring an additional 480 shares in the last quarter. Hayek Kallen Investment Management increased its stake in AT&T by 0.8% in the third quarter. Hayek Kallen Investment Management now owns 60,271 shares of the technology company’s stock valued at $1,326,000 after acquiring an additional 500 shares during the last quarter. Finally, Aviance Capital Partners LLC lifted its stake in AT&T by 2.1% during the third quarter. Aviance Capital Partners LLC now owns 24,389 shares of the technology company’s stock worth $537,000 after purchasing an additional 501 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Performance

NYSE:T opened at $22.73 on Wednesday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. AT&T Inc. has a fifty-two week low of $15.85 and a fifty-two week high of $23.20. The company has a 50 day simple moving average of $21.94 and a two-hundred day simple moving average of $19.84. The company has a market capitalization of $163.09 billion, a PE ratio of 18.48, a P/E/G ratio of 3.40 and a beta of 0.59.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.03. The company had revenue of $30.20 billion during 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%. AT&T’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the prior year, the company 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 business also recently announced 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 of this dividend was Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.88%. AT&T’s payout ratio is presently 90.24%.

Analyst Ratings Changes

T has been the topic of several recent analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $22.00 price target on shares of AT&T in a research note on Thursday, October 24th. Wells Fargo & Company lowered their target price on AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Barclays raised their price target on shares of AT&T from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. upped their price objective on shares of AT&T from $21.00 to $24.00 and gave the stock 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 research report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $23.40.

About AT&T

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.