Associated Banc Corp Buys 3,268 Shares of AT&T Inc. (NYSE:T)

Associated Banc Corp boosted its stake in AT&T Inc. (NYSE:T) by 4.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 80,577 shares of the technology company’s stock after purchasing an additional 3,268 shares during the quarter. Associated Banc Corp’s holdings in AT&T were worth $1,773,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. 1832 Asset Management L.P. lifted its position in shares of AT&T by 70.1% during the 1st quarter. 1832 Asset Management L.P. now owns 2,375 shares of the technology company’s stock worth $42,000 after buying an additional 979 shares during the last quarter. Caxton Associates LP raised its stake in AT&T by 207.6% during the first quarter. Caxton Associates LP now owns 51,025 shares of the technology company’s stock worth $898,000 after acquiring an additional 34,437 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its holdings in shares of AT&T by 12.1% in the first quarter. B. Riley Wealth Advisors Inc. now owns 409,674 shares of the technology company’s stock worth $7,210,000 after acquiring an additional 44,189 shares during the last quarter. Tidal Investments LLC boosted its stake in shares of AT&T by 1.6% in the 1st quarter. Tidal Investments LLC now owns 537,694 shares of the technology company’s stock valued at $9,461,000 after purchasing an additional 8,271 shares in the last quarter. Finally, Coppell Advisory Solutions Corp. bought a new stake in shares of AT&T during the 1st quarter valued at approximately $295,000. Institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Evercore ISI upped their price target on shares of AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a report on Thursday, October 24th. Oppenheimer upped their price target on shares of AT&T from $23.00 to $24.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Tigress Financial boosted their price objective on shares of AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Redburn Atlantic raised AT&T to a “strong sell” rating in a research report on Monday, September 16th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $22.00 price target on shares of AT&T in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and an average target price of $23.40.

AT&T Stock Performance

NYSE:T opened at $23.10 on Tuesday. The company has a fifty day moving average of $22.04 and a 200-day moving average of $20.00. AT&T Inc. has a twelve month low of $15.94 and a twelve month high of $23.32. The firm has a market capitalization of $165.75 billion, a P/E ratio of 18.78, a P/E/G ratio of 3.48 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 (NYSE:T) last issued its earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The business had revenue of $30.20 billion during the quarter, compared to analyst estimates of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The firm’s revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.64 EPS. As a group, sell-side analysts anticipate that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.81%. The ex-dividend date was Thursday, October 10th. AT&T’s dividend payout ratio is currently 90.24%.

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.