Revolve Wealth Partners LLC Grows Position in AT&T Inc. (NYSE:T)

Revolve Wealth Partners LLC increased its position in shares of AT&T Inc. (NYSE:T) by 35.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,473 shares of the technology company’s stock after buying an additional 4,052 shares during the quarter. Revolve Wealth Partners LLC’s holdings in AT&T were worth $340,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in T. Fisher Asset Management LLC grew its stake in shares of AT&T by 29.4% in the 4th quarter. Fisher Asset Management LLC now owns 130,844 shares of the technology company’s stock valued at $2,196,000 after purchasing an additional 29,757 shares during the last quarter. Salem Investment Counselors Inc. grew its stake in shares of AT&T by 16.9% in the 1st quarter. Salem Investment Counselors Inc. now owns 32,833 shares of the technology company’s stock valued at $578,000 after purchasing an additional 4,750 shares during the last quarter. Northwest Investment Counselors LLC purchased a new position in shares of AT&T in the 1st quarter valued at approximately $160,000. CHICAGO TRUST Co NA boosted its stake in shares of AT&T by 1.9% in the first quarter. CHICAGO TRUST Co NA now owns 55,108 shares of the technology company’s stock valued at $970,000 after buying an additional 1,054 shares in the last quarter. Finally, AdvisorNet Financial Inc boosted its stake in shares of AT&T by 12.3% in the first quarter. AdvisorNet Financial Inc now owns 20,002 shares of the technology company’s stock valued at $352,000 after buying an additional 2,186 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

NYSE T opened at $21.85 on Friday. AT&T Inc. has a fifty-two week low of $14.74 and a fifty-two week high of $22.34. The stock has a market cap of $156.67 billion, a price-to-earnings ratio of 11.75, a price-to-earnings-growth ratio of 3.63 and a beta of 0.60. The business has a fifty day moving average of $20.95 and a 200-day moving average of $18.97. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.57. The company had revenue of $29.80 billion during the quarter, compared to analysts’ expectations of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The business’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.63 earnings per share. As a group, analysts predict that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.08%. The ex-dividend date is Thursday, October 10th. AT&T’s dividend payout ratio is currently 59.68%.

Analyst Upgrades and Downgrades

T has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price target on AT&T from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Barclays lifted their price target on AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. The Goldman Sachs Group initiated coverage on AT&T in a research note on Monday, July 1st. They issued a “buy” rating and a $22.00 price target on the stock. Redburn Atlantic upgraded AT&T to a “strong sell” rating in a research note on Monday, September 16th. Finally, Oppenheimer lifted their price target on AT&T from $21.00 to $23.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.69.

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.