IHT Wealth Management LLC Buys 79,845 Shares of AT&T Inc. (NYSE:T)

IHT Wealth Management LLC boosted its stake in AT&T Inc. (NYSE:T) by 37.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 290,966 shares of the technology company’s stock after acquiring an additional 79,845 shares during the quarter. IHT Wealth Management LLC’s holdings in AT&T were worth $6,412,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in T. Chesapeake Wealth Management increased its stake in AT&T by 1.9% in the third quarter. Chesapeake Wealth Management now owns 24,304 shares of the technology company’s stock valued at $535,000 after purchasing an additional 460 shares in the last quarter. Socha Financial Group LLC increased its stake in AT&T by 2.5% in the third quarter. Socha Financial Group LLC now owns 18,847 shares of the technology company’s stock valued at $415,000 after purchasing an additional 461 shares in the last quarter. Garden State Investment Advisory Services LLC increased its stake in AT&T by 1.4% in the third quarter. Garden State Investment Advisory Services LLC now owns 34,468 shares of the technology company’s stock valued at $759,000 after purchasing an additional 468 shares in the last quarter. Essex Savings Bank increased its position in shares of AT&T by 2.3% during the third quarter. Essex Savings Bank now owns 21,636 shares of the technology company’s stock worth $476,000 after acquiring an additional 480 shares in the last quarter. Finally, Hayek Kallen Investment Management increased its position in shares of AT&T by 0.8% during the third quarter. Hayek Kallen Investment Management now owns 60,271 shares of the technology company’s stock worth $1,326,000 after acquiring an additional 500 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on T shares. 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. Barclays boosted their target price on shares of AT&T from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. New Street Research raised shares of AT&T from a “neutral” rating to a “buy” rating in a research report on Tuesday. Moffett Nathanson boosted their target price on shares of AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Finally, Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a research report on Monday, September 16th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.53.

AT&T Stock Performance

T traded up $0.97 during midday trading on Tuesday, reaching $23.67. The company had a trading volume of 20,579,321 shares, compared to its average volume of 35,340,641. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. The stock has a market cap of $169.84 billion, a PE ratio of 18.92, a P/E/G ratio of 3.48 and a beta of 0.59. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $24.03. The business has a 50-day moving average price of $22.17 and a two-hundred day moving average price of $20.17.

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

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.69%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s 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.