9,898 Shares in AT&T Inc. (NYSE:T) Bought by WealthBridge Capital Management LLC

WealthBridge Capital Management LLC purchased a new position in shares of AT&T Inc. (NYSE:T) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 9,898 shares of the technology company’s stock, valued at approximately $218,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Davidson Kempner Capital Management LP purchased a new stake in shares of AT&T in the second quarter valued at about $23,888,000. Mackenzie Financial Corp raised its position in AT&T by 12.2% during the second quarter. Mackenzie Financial Corp now owns 2,641,856 shares of the technology company’s stock worth $50,486,000 after acquiring an additional 288,093 shares during the last quarter. DRW Securities LLC raised its position in AT&T by 642.2% during the second quarter. DRW Securities LLC now owns 104,309 shares of the technology company’s stock worth $1,997,000 after acquiring an additional 90,255 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in AT&T by 4.3% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 1,037,529 shares of the technology company’s stock worth $19,827,000 after acquiring an additional 43,062 shares during the last quarter. Finally, M&G Plc acquired a new position in AT&T during the first quarter worth about $9,074,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on T. Citigroup boosted their price objective on shares of AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. The Goldman Sachs Group started coverage on shares of AT&T in a research report on Monday, July 1st. They issued a “buy” rating and a $22.00 price objective for the company. Deutsche Bank Aktiengesellschaft increased their price objective on shares of AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. JPMorgan Chase & Co. increased their price objective on shares of AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Finally, Scotiabank lowered shares of AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $22.38.

AT&T Trading Down 0.6 %

AT&T stock opened at $21.78 on Tuesday. The firm’s 50-day moving average is $20.47 and its 200-day moving average is $18.68. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. AT&T Inc. has a 1 year low of $14.23 and a 1 year high of $22.34. The company has a market cap of $156.17 billion, a P/E ratio of 11.71, a PEG ratio of 3.78 and a beta of 0.60.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The company had revenue of $29.80 billion for the quarter, compared to the consensus estimate of $30.05 billion. During the same period last year, the firm posted $0.63 EPS. The company’s revenue for the quarter was down .3% on a year-over-year basis. On average, equities analysts expect that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be given a $0.2775 dividend. The ex-dividend date is Thursday, October 10th. This represents a $1.11 annualized dividend and a yield of 5.10%. AT&T’s dividend payout ratio is presently 59.68%.

AT&T Company 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.