FLC Capital Advisors Has $598,000 Stake in AT&T Inc. (NYSE:T)

FLC Capital Advisors increased its holdings in AT&T Inc. (NYSE:T) by 11.2% in the third quarter, Holdings Channel reports. The institutional investor owned 27,169 shares of the technology company’s stock after buying an additional 2,735 shares during the period. FLC Capital Advisors’ holdings in AT&T were worth $598,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Strategic Financial Concepts LLC raised its position in shares of AT&T by 227.6% in the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after buying an additional 91,578 shares in the last quarter. Riggs Asset Managment Co. Inc. increased its stake in AT&T by 356.5% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after acquiring an additional 1,116 shares during the last quarter. American Capital Advisory LLC increased its stake 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 valued at $30,000 after acquiring an additional 807 shares during the last quarter. Altshuler Shaham Ltd bought a new position in AT&T in the second quarter valued at approximately $30,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its stake in AT&T by 176.6% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock valued at $35,000 after acquiring an additional 1,192 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on T shares. Daiwa America raised shares of AT&T to a “hold” rating in a research note on Friday, July 26th. TD Cowen lifted their price objective on shares of AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Oppenheimer boosted their target price on shares of AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Evercore ISI boosted their target price on shares of AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a research note on Thursday, July 25th. Finally, Wells Fargo & Company boosted their target price on shares of AT&T from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $22.69.

AT&T Price Performance

T stock opened at $21.70 on Thursday. The firm has a market cap of $155.59 billion, a price-to-earnings ratio of 11.67, a PEG ratio of 3.62 and a beta of 0.60. 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 Inc. has a 12-month low of $14.28 and a 12-month high of $22.34. The company’s fifty day simple moving average is $20.86 and its 200 day simple moving average is $18.91.

AT&T (NYSE:T) last released its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.57. The business had revenue of $29.80 billion for the quarter, compared to analyst estimates of $30.05 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. AT&T’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.63 earnings per share. On average, 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 announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be issued a $0.2775 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.11 annualized dividend and a yield of 5.12%. AT&T’s payout ratio is 59.68%.

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.