Steigerwald Gordon & Koch Inc. Buys 12,444 Shares of AT&T Inc. (NYSE:T)

Steigerwald Gordon & Koch Inc. lifted its stake in AT&T Inc. (NYSE:T) by 3.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 371,551 shares of the technology company’s stock after purchasing an additional 12,444 shares during the quarter. Steigerwald Gordon & Koch Inc.’s holdings in AT&T were worth $8,174,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Sei Investments Co. lifted its position in AT&T by 2.4% in the 4th quarter. Sei Investments Co. now owns 2,028,505 shares of the technology company’s stock valued at $34,038,000 after acquiring an additional 47,595 shares in the last quarter. Wasatch Advisors LP lifted its position in AT&T by 1.9% in the 4th quarter. Wasatch Advisors LP now owns 220,000 shares of the technology company’s stock valued at $3,692,000 after acquiring an additional 4,000 shares in the last quarter. Icon Wealth Advisors LLC bought a new position in shares of AT&T during the 4th quarter valued at $405,000. Jacobi Capital Management LLC lifted its holdings in shares of AT&T by 4.3% during the 4th quarter. Jacobi Capital Management LLC now owns 100,385 shares of the technology company’s stock valued at $1,684,000 after buying an additional 4,094 shares during the period. Finally, First Financial Bankshares Inc bought a new position in shares of AT&T during the 4th quarter valued at $304,000. 57.10% of the stock is owned by institutional investors.

AT&T Trading Down 1.4 %

NYSE:T traded down $0.31 on Thursday, hitting $21.34. 10,687,815 shares of the stock were exchanged, compared to its average volume of 35,652,516. The stock has a market capitalization of $153.01 billion, a price-to-earnings ratio of 11.47, a P/E/G ratio of 3.74 and a beta of 0.60. AT&T Inc. has a 52 week low of $14.23 and a 52 week high of $22.34. 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’s 50-day moving average price is $20.64 and its 200 day moving average price is $18.77.

AT&T (NYSE:T) last posted its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, hitting 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 prior year, the business earned $0.63 EPS. AT&T’s revenue for the quarter was down .3% compared to the same quarter last year. On average, equities research analysts forecast that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 5.20%. The ex-dividend date of this dividend is Thursday, October 10th. AT&T’s payout ratio is presently 59.68%.

Wall Street Analysts Forecast Growth

T has been the subject of a number of analyst reports. Daiwa America upgraded AT&T to a “hold” rating in a research note on Friday, July 26th. TD Cowen raised 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. Barclays lifted their price target on shares of AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Citigroup upped their price target on shares of AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Finally, Royal Bank of Canada upped their price target on shares of AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, AT&T has an average rating of “Moderate Buy” and an average price target of $22.38.

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.