Horst & Graben Wealth Management LLC Purchases 4,278 Shares of AT&T Inc. (NYSE:T)

Horst & Graben Wealth Management LLC grew its position in AT&T Inc. (NYSE:T) by 34.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,725 shares of the technology company’s stock after acquiring an additional 4,278 shares during the quarter. Horst & Graben Wealth Management LLC’s holdings in AT&T were worth $368,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in T. AdvisorNet Financial Inc increased its stake in AT&T by 12.3% in the first quarter. AdvisorNet Financial Inc now owns 20,002 shares of the technology company’s stock worth $352,000 after purchasing an additional 2,186 shares during the period. Global Assets Advisory LLC purchased a new position in AT&T during the 1st quarter worth $2,436,000. Austin Private Wealth LLC raised its holdings in shares of AT&T by 12.9% in the first quarter. Austin Private Wealth LLC now owns 18,345 shares of the technology company’s stock valued at $323,000 after acquiring an additional 2,101 shares in the last quarter. Capital Advisors Wealth Management LLC lifted its position in shares of AT&T by 26.9% in the 1st quarter. Capital Advisors Wealth Management LLC now owns 18,662 shares of the technology company’s stock worth $328,000 after purchasing an additional 3,958 shares during the period. Finally, Charles Schwab Trust Co boosted its position in AT&T by 13.4% during the 1st quarter. Charles Schwab Trust Co now owns 16,594 shares of the technology company’s stock valued at $292,000 after acquiring an additional 1,962 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

NYSE:T opened at $21.67 on Tuesday. The stock has a market capitalization of $155.38 billion, a PE ratio of 12.45, a price-to-earnings-growth ratio of 3.73 and a beta of 0.60. AT&T Inc. has a 52 week low of $14.74 and a 52 week high of $22.34. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. The stock’s 50-day moving average price is $20.99 and its 200-day moving average price is $19.01.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 EPS 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 during the quarter, compared to analysts’ expectations of $30.05 billion. During the same period in the previous year, the business earned $0.63 earnings per share. The business’s revenue was down .3% compared to the same quarter last year. As a group, equities analysts expect that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be given a dividend of $0.2775 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.12%. AT&T’s dividend payout ratio (DPR) is presently 63.79%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on T shares. Tigress Financial upped their price target on AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. The Goldman Sachs Group initiated coverage on AT&T in a research report on Monday, July 1st. They issued a “buy” rating and a $22.00 target price on the stock. Wells Fargo & Company raised their target price on AT&T from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Redburn Atlantic upgraded AT&T to a “strong sell” rating in a research note on Monday, September 16th. Finally, Royal Bank of Canada raised their price objective on AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.