Traveka Wealth LLC Takes $217,000 Position in AT&T Inc. (NYSE:T)

Traveka Wealth LLC bought a new stake in shares of AT&T Inc. (NYSE:T) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 9,856 shares of the technology company’s stock, valued at approximately $217,000.

Several other hedge funds have also recently made changes to their positions in the business. Pineridge Advisors LLC purchased a new stake in shares of AT&T in the fourth quarter worth $25,000. Strategic Financial Concepts LLC lifted its holdings in shares of AT&T by 227.6% during the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after purchasing an additional 91,578 shares in the last quarter. Riggs Asset Managment Co. Inc. lifted its holdings in shares of AT&T by 356.5% during the second 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 in the last quarter. American Capital Advisory LLC boosted its position in AT&T by 107.5% in the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after purchasing an additional 807 shares during the last quarter. Finally, Altshuler Shaham Ltd purchased a new position in AT&T in the second quarter worth about $30,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

T has been the topic of several research reports. Hsbc Global Res raised AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. The Goldman Sachs Group assumed coverage on AT&T in a research report on Monday, July 1st. They set a “buy” rating and a $22.00 target price on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, June 28th. BNP Paribas upgraded AT&T from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 11th. Finally, Royal Bank of Canada boosted their price objective on AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $22.38.

AT&T Stock Up 0.2 %

NYSE:T traded up $0.05 during mid-day trading on Tuesday, hitting $21.83. 3,984,097 shares of the company’s stock traded hands, compared to its average volume of 35,743,410. The company has a fifty day moving average of $20.53 and a 200 day moving average of $18.71. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. The company has a market capitalization of $156.52 billion, a P/E ratio of 11.75, a P/E/G ratio of 3.78 and a beta of 0.60. AT&T Inc. has a twelve month low of $14.23 and a twelve month high of $22.34.

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

AT&T Dividend Announcement

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