Planning Capital Management Corp Increases Stock Holdings in AT&T Inc. (NYSE:T)

Planning Capital Management Corp boosted its position in shares of AT&T Inc. (NYSE:T) by 23.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,403 shares of the technology company’s stock after acquiring an additional 1,399 shares during the quarter. Planning Capital Management Corp’s holdings in AT&T were worth $163,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Davidson Kempner Capital Management LP purchased a new position in shares of AT&T in the 2nd quarter valued at about $23,888,000. Talbot Financial LLC purchased a new position in shares of AT&T in the 3rd quarter valued at about $7,438,000. Mackenzie Financial Corp boosted its stake in shares of AT&T by 12.2% in the 2nd quarter. Mackenzie Financial Corp now owns 2,641,856 shares of the technology company’s stock valued at $50,486,000 after buying an additional 288,093 shares during the period. DRW Securities LLC boosted its stake in shares of AT&T by 642.2% in the 2nd quarter. DRW Securities LLC now owns 104,309 shares of the technology company’s stock valued at $1,997,000 after buying an additional 90,255 shares during the period. Finally, Van ECK Associates Corp boosted its stake in shares of AT&T by 7.2% in the 3rd quarter. Van ECK Associates Corp now owns 396,958 shares of the technology company’s stock valued at $8,928,000 after buying an additional 26,706 shares during the period. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

AT&T Stock Up 0.7 %

Shares of T stock opened at $22.30 on Thursday. AT&T Inc. has a 1 year low of $15.52 and a 1 year high of $22.73. The stock has a market cap of $160.01 billion, a PE ratio of 18.13, a price-to-earnings-growth ratio of 3.33 and a beta of 0.59. The business’s fifty day moving average is $21.82 and its 200-day moving average is $19.65. 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 (NYSE:T) last released 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 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 company’s revenue was down .5% compared to the same quarter last year. During the same period last year, the company posted $0.64 EPS. Equities analysts expect that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were given a $0.2775 dividend. The ex-dividend date was Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.98%. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on T shares. Scotiabank cut AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Oppenheimer lifted their price objective on AT&T from $23.00 to $24.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Royal Bank of Canada reissued a “sector perform” rating and set a $22.00 target price on shares of AT&T in a research report on Thursday, October 24th. Evercore ISI raised their target price on AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research report on Thursday, October 24th. Finally, Daiwa America raised AT&T to a “hold” rating in a research report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, AT&T 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.