Mitchell Mcleod Pugh & Williams Inc. Increases Stake in AT&T Inc. $T

Mitchell Mcleod Pugh & Williams Inc. increased its position in AT&T Inc. (NYSE:T) by 1.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 51,130 shares of the technology company’s stock after acquiring an additional 803 shares during the quarter. Mitchell Mcleod Pugh & Williams Inc.’s holdings in AT&T were worth $1,480,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in T. Brighton Jones LLC increased its holdings in AT&T by 26.5% in the 4th quarter. Brighton Jones LLC now owns 48,579 shares of the technology company’s stock worth $1,106,000 after acquiring an additional 10,188 shares during the last quarter. GAMMA Investing LLC grew its holdings in AT&T by 15.5% during the 1st quarter. GAMMA Investing LLC now owns 165,258 shares of the technology company’s stock valued at $4,673,000 after buying an additional 22,195 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in AT&T by 9.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 2,628,232 shares of the technology company’s stock valued at $74,326,000 after buying an additional 230,460 shares in the last quarter. Keystone Wealth Services LLC purchased a new position in AT&T during the 1st quarter valued at about $203,000. Finally, Hanson & Doremus Investment Management grew its holdings in AT&T by 6.4% during the 1st quarter. Hanson & Doremus Investment Management now owns 13,393 shares of the technology company’s stock valued at $379,000 after buying an additional 800 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

T has been the subject of a number of recent analyst reports. Scotiabank set a $30.25 target price on AT&T and gave the company a “sector perform” rating in a report on Monday, October 6th. The Goldman Sachs Group initiated coverage on AT&T in a report on Tuesday, September 2nd. They set a “buy” rating and a $32.00 target price for the company. Morgan Stanley lifted their target price on AT&T from $31.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday, July 16th. Hsbc Global Res lowered AT&T from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 24th. Finally, Sanford C. Bernstein lifted their target price on AT&T from $31.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $30.75.

AT&T Stock Performance

Shares of T opened at $26.12 on Wednesday. The company has a market cap of $186.74 billion, a PE ratio of 14.84, a price-to-earnings-growth ratio of 2.07 and a beta of 0.42. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. The stock has a 50-day moving average price of $28.37 and a 200-day moving average price of $27.85. AT&T Inc. has a 12-month low of $21.05 and a 12-month high of $29.79.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.01. The firm had revenue of $30.85 billion during the quarter, compared to the consensus estimate of $30.44 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The company’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter last year, the company posted $0.51 EPS. As a group, equities analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be given a $0.2775 dividend. The ex-dividend date is Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.3%. AT&T’s payout ratio is presently 63.07%.

About AT&T

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.