St. Johns Investment Management Company LLC Buys 3,458 Shares of AT&T Inc. (NYSE:T)

St. Johns Investment Management Company LLC boosted its stake in AT&T Inc. (NYSE:T) by 13.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 29,146 shares of the technology company’s stock after buying an additional 3,458 shares during the quarter. St. Johns Investment Management Company LLC’s holdings in AT&T were worth $641,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of AT&T by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 624,994,998 shares of the technology company’s stock valued at $10,999,912,000 after purchasing an additional 2,588,539 shares during the last quarter. Bank of New York Mellon Corp raised its stake in AT&T by 7.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock valued at $1,549,375,000 after acquiring an additional 5,592,123 shares during the period. Legal & General Group Plc lifted its holdings in AT&T by 2.7% during the second quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company’s stock valued at $1,148,689,000 after purchasing an additional 1,569,374 shares during the last quarter. Ameriprise Financial Inc. boosted its position in AT&T by 2.0% during the second quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock worth $985,307,000 after purchasing an additional 1,007,228 shares during the period. Finally, LSV Asset Management increased its stake in shares of AT&T by 1.1% in the second quarter. LSV Asset Management now owns 30,092,610 shares of the technology company’s stock worth $575,070,000 after purchasing an additional 315,580 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on shares of AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Wells Fargo & Company lowered 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. Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Daiwa America upgraded shares of AT&T to a “hold” rating in a research report on Friday, July 26th. Finally, TD Cowen upped their target price on shares of AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.40.

AT&T Price Performance

Shares of NYSE T opened at $21.84 on Friday. 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 $156.60 billion, a price-to-earnings ratio of 11.74, a P/E/G ratio of 3.67 and a beta of 0.60. The company has a 50 day simple moving average of $21.20 and a two-hundred day simple moving average of $19.12. AT&T Inc. has a fifty-two week low of $14.74 and a fifty-two week high of $22.58.

AT&T (NYSE:T) last released its earnings results on Wednesday, October 23rd. The technology company reported $0.60 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 14.16% and a net margin of 10.41%. The company’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.64 earnings per share. 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. Stockholders of record on Thursday, October 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.08%. The ex-dividend date is Thursday, October 10th. AT&T’s 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.