AT&T Inc. (NYSE:T) Stock Position Raised by Turtle Creek Wealth Advisors LLC

Turtle Creek Wealth Advisors LLC lifted its position in AT&T Inc. (NYSE:T) by 3.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 87,379 shares of the technology company’s stock after buying an additional 2,863 shares during the quarter. Turtle Creek Wealth Advisors LLC’s holdings in AT&T were worth $1,922,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in T. Dorsey & Whitney Trust CO LLC lifted its holdings in AT&T by 27.9% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 44,033 shares of the technology company’s stock worth $775,000 after purchasing an additional 9,602 shares during the last quarter. Tocqueville Asset Management L.P. lifted its stake in shares of AT&T by 2.5% in the first quarter. Tocqueville Asset Management L.P. now owns 71,279 shares of the technology company’s stock worth $1,255,000 after buying an additional 1,716 shares during the last quarter. M&G Plc bought a new stake in shares of AT&T during the 1st quarter worth $9,074,000. Mizuho Markets Americas LLC bought a new stake in shares of AT&T during the 1st quarter worth $6,321,000. Finally, Spirepoint Private Client LLC acquired a new position in AT&T in the 1st quarter valued at $227,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on T shares. Moffett Nathanson upped 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. Oppenheimer boosted their price target on AT&T from $23.00 to $24.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Hsbc Global Res upgraded AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Wells Fargo & Company reduced their target price on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Finally, Citigroup upped their target price on shares of AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $23.40.

AT&T Trading Up 1.9 %

Shares of NYSE:T traded up $0.43 during midday trading on Friday, hitting $22.68. The company had a trading volume of 40,207,263 shares, compared to its average volume of 35,514,727. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. AT&T Inc. has a 12 month low of $15.75 and a 12 month high of $22.75. The firm has a fifty day simple moving average of $21.89 and a 200 day simple moving average of $19.71. The stock has a market cap of $162.74 billion, a price-to-earnings ratio of 18.45, a PEG ratio of 3.35 and a beta of 0.59.

AT&T (NYSE:T) last issued its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The firm had revenue of $30.20 billion for 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 company’s revenue was down .5% compared to the same quarter last year. During the same quarter last year, the business earned $0.64 earnings per share. On average, analysts predict that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s dividend 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.