Raymond James Trust N.A. Has $10.36 Million Stock Position in AT&T Inc. (NYSE:T)

Raymond James Trust N.A. lifted its holdings in shares of AT&T Inc. (NYSE:T) by 6.5% in the third quarter, Holdings Channel.com reports. The fund owned 470,799 shares of the technology company’s stock after purchasing an additional 28,698 shares during the quarter. Raymond James Trust N.A.’s holdings in AT&T were worth $10,358,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Eagle Asset Management Inc. increased its position in shares of AT&T by 30.6% during the 3rd quarter. Eagle Asset Management Inc. now owns 832,999 shares of the technology company’s stock worth $18,609,000 after purchasing an additional 195,314 shares in the last quarter. Investors Research Corp boosted its holdings in shares of AT&T by 1.6% in the 3rd quarter. Investors Research Corp now owns 76,132 shares of the technology company’s stock worth $1,675,000 after acquiring an additional 1,179 shares in the last quarter. Blackhawk Capital Partners LLC. grew its position in AT&T by 4.4% during the 3rd quarter. Blackhawk Capital Partners LLC. now owns 14,325 shares of the technology company’s stock worth $315,000 after acquiring an additional 605 shares during the last quarter. Integrated Investment Consultants LLC acquired a new stake in AT&T during the 3rd quarter valued at $503,000. Finally, LPL Financial LLC raised its position in AT&T by 5.3% in the 3rd quarter. LPL Financial LLC now owns 9,400,282 shares of the technology company’s stock valued at $206,806,000 after purchasing an additional 475,614 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Up 0.9 %

Shares of NYSE T opened at $23.03 on Friday. The firm has a 50 day moving average price of $21.99 and a 200 day moving average price of $19.88. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. The stock has a market cap of $165.21 billion, a P/E ratio of 18.72, a P/E/G ratio of 3.41 and a beta of 0.59. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $23.20.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $30.50 billion. During the same quarter last year, the business posted $0.64 EPS. The firm’s revenue was down .5% compared to the same quarter last year. Analysts expect that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were given a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.82%. AT&T’s dividend payout ratio is presently 90.24%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Tigress Financial raised their target price on AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, September 27th. TD Cowen raised their price objective on shares of AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Daiwa America upgraded shares of AT&T to a “hold” rating in a research report on Friday, July 26th. Royal Bank of Canada reissued a “sector perform” rating and issued a $22.00 price target on shares of AT&T in a report on Thursday, October 24th. Finally, Hsbc Global Res raised AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.40.

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.