Aviance Capital Partners LLC Acquires 501 Shares of AT&T Inc. (NYSE:T)

Aviance Capital Partners LLC increased its holdings in shares of AT&T Inc. (NYSE:T) by 2.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 24,389 shares of the technology company’s stock after acquiring an additional 501 shares during the quarter. Aviance Capital Partners LLC’s holdings in AT&T were worth $537,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Ritter Daniher Financial Advisory LLC DE grew its holdings in shares of AT&T by 169.2% during the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after purchasing an additional 841 shares in the last quarter. Riggs Asset Managment Co. Inc. increased its holdings in AT&T by 356.5% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after buying an additional 1,116 shares during the period. American Capital Advisory LLC raised its position in shares of AT&T by 107.5% in the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after buying an additional 807 shares in the last quarter. Reston Wealth Management LLC bought a new stake in shares of AT&T during the 3rd quarter worth approximately $35,000. Finally, Altshuler Shaham Ltd acquired a new stake in shares of AT&T during the 2nd quarter worth approximately $30,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on T shares. Royal Bank of Canada restated a “sector perform” rating and set a $22.00 price objective on shares of AT&T in a research report on Thursday, October 24th. Moffett Nathanson lifted their target price on AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Wells Fargo & Company dropped their target price on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Barclays lifted their price target on shares of AT&T from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Finally, Daiwa America raised shares of AT&T to a “hold” rating in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.40.

AT&T Stock Down 1.1 %

AT&T stock opened at $22.73 on Wednesday. The firm has a market cap of $163.09 billion, a price-to-earnings ratio of 18.48, a PEG ratio of 3.40 and a beta of 0.59. AT&T Inc. has a 52-week low of $15.85 and a 52-week high of $23.20. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. The firm has a 50 day moving average price of $21.94 and a two-hundred day moving average price of $19.84.

AT&T (NYSE:T) last announced its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The business had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. During the same quarter last year, the firm earned $0.64 earnings per share. AT&T’s quarterly revenue was down .5% on a year-over-year basis. Equities analysts predict that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were issued a $0.2775 dividend. The ex-dividend date was Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.88%. AT&T’s payout ratio is currently 90.24%.

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.