Carr Financial Group Corp Buys Shares of 9,847 AT&T Inc. (NYSE:T)

Carr Financial Group Corp purchased a new position in shares of AT&T Inc. (NYSE:T) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 9,847 shares of the technology company’s stock, valued at approximately $217,000.

Several other institutional investors have also recently made changes to their positions in the company. Riggs Asset Managment Co. Inc. lifted its holdings in shares of AT&T by 356.5% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after acquiring an additional 1,116 shares during the last quarter. American Capital Advisory LLC raised its position in AT&T by 107.5% in the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after purchasing an additional 807 shares during the period. Reston Wealth Management LLC acquired a new position in AT&T during the third quarter worth $35,000. Altshuler Shaham Ltd purchased a new position in shares of AT&T during the second quarter worth $30,000. Finally, Marquette Asset Management LLC acquired a new stake in shares of AT&T in the third quarter valued at $36,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 1.4 %

T stock opened at $22.34 on Friday. The company has a market cap of $160.30 billion, a price-to-earnings ratio of 18.16, a price-to-earnings-growth ratio of 3.35 and a beta of 0.59. The company has a fifty day moving average price of $21.70 and a 200 day moving average price of $19.52. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. AT&T Inc. has a 12 month low of $15.46 and a 12 month high of $22.73.

AT&T (NYSE:T) last announced 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. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The business had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. During the same period in the prior year, the company earned $0.64 earnings per share. The business’s revenue was down .5% compared to the same quarter last year. Sell-side analysts expect that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were paid a $0.2775 dividend. The ex-dividend date was Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.97%. AT&T’s dividend payout ratio (DPR) is currently 90.24%.

Analysts Set New Price Targets

Several analysts have recently issued reports on T shares. Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a research report on Monday, September 16th. Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. Citigroup boosted their price target on shares of AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $22.00 price objective on shares of AT&T in a research note on Thursday, October 24th. Finally, TD Cowen boosted their target price on AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average 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.