Prospera Private Wealth LLC Acquires 61,743 Shares of AT&T Inc. (NYSE:T)

Prospera Private Wealth LLC raised its position in shares of AT&T Inc. (NYSE:T) by 49.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 185,887 shares of the technology company’s stock after purchasing an additional 61,743 shares during the period. Prospera Private Wealth LLC’s holdings in AT&T were worth $4,090,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of T. Premier Fund Managers Ltd bought a new position in AT&T in the 3rd quarter worth approximately $7,488,000. Thompson Davis & CO. Inc. purchased a new position in shares of AT&T in the third quarter valued at $242,000. Kraft Davis & Associates LLC bought a new stake in shares of AT&T during the 3rd quarter valued at $211,000. West Family Investments Inc. lifted its holdings in AT&T by 11.8% during the 3rd quarter. West Family Investments Inc. now owns 22,281 shares of the technology company’s stock worth $490,000 after purchasing an additional 2,356 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in AT&T during the 3rd quarter valued at about $8,611,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on T shares. Moffett Nathanson upped their target price on shares of AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Barclays lifted their price target on AT&T from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Scotiabank cut shares of AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. TD Cowen lifted their target price on shares of AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Finally, Citigroup increased their price target on shares of AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $23.40.

AT&T Price Performance

Shares of AT&T stock opened at $22.73 on Wednesday. The company’s fifty day simple moving average is $21.94 and its two-hundred day simple moving average is $19.84. AT&T Inc. has a 12-month low of $15.85 and a 12-month high of $23.20. The firm has a market cap of $163.09 billion, a PE ratio of 18.48, a price-to-earnings-growth ratio of 3.40 and a beta of 0.59. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The company had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. During the same quarter in the previous year, the business earned $0.64 EPS. AT&T’s revenue was down .5% 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 year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.88%. The ex-dividend date was Thursday, October 10th. 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.