Harvest Fund Management Co. Ltd Has $1.66 Million Position in AT&T Inc. (NYSE:T)

Harvest Fund Management Co. Ltd boosted its position in shares of AT&T Inc. (NYSE:T) by 1,453.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 75,560 shares of the technology company’s stock after buying an additional 70,696 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in AT&T were worth $1,661,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in T. Strategic Financial Concepts LLC increased its stake in AT&T by 227.6% in the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after acquiring an additional 91,578 shares during the period. Riggs Asset Managment Co. Inc. grew its stake 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 valued at $27,000 after purchasing an additional 1,116 shares during the period. Ritter Daniher Financial Advisory LLC DE raised its holdings in shares of AT&T by 169.2% in the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after buying an additional 841 shares in the last quarter. American Capital Advisory LLC lifted its position in shares of AT&T by 107.5% during the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after buying an additional 807 shares during the period. Finally, Altshuler Shaham Ltd bought a new stake in AT&T in the second quarter valued at $30,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on T shares. Moffett Nathanson lifted their price target on shares of AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Evercore ISI boosted their target price on AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a report on Thursday, October 24th. Tigress Financial raised their price target on AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a report on Friday, September 27th. Oppenheimer lifted their price objective on AT&T from $23.00 to $24.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, Wells Fargo & Company decreased their target price on AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, AT&T currently has an average rating of “Moderate Buy” and an average price target of $23.40.

AT&T Price Performance

Shares of T stock opened at $23.10 on Tuesday. The firm’s 50 day moving average price is $22.04 and its two-hundred day moving average price is $20.00. The stock has a market cap of $165.75 billion, a PE ratio of 18.78, a PEG ratio of 3.48 and a beta of 0.59. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $23.32. 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 announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The business had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.64 earnings per share. As a group, analysts forecast that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were paid a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.81%. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

About AT&T

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.