West Michigan Advisors LLC Invests $249,000 in AT&T Inc. (NYSE:T)

West Michigan Advisors LLC bought a new stake in AT&T Inc. (NYSE:T) during the third quarter, HoldingsChannel reports. The firm bought 11,322 shares of the technology company’s stock, valued at approximately $249,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hayek Kallen Investment Management lifted its stake in AT&T by 0.8% in the 3rd quarter. Hayek Kallen Investment Management now owns 60,271 shares of the technology company’s stock worth $1,326,000 after purchasing an additional 500 shares in the last quarter. Octavia Wealth Advisors LLC raised its position in shares of AT&T by 2.1% in the second quarter. Octavia Wealth Advisors LLC now owns 25,313 shares of the technology company’s stock worth $484,000 after buying an additional 519 shares in the last quarter. Carolinas Wealth Consulting LLC boosted its stake in AT&T by 2.3% during the second quarter. Carolinas Wealth Consulting LLC now owns 23,650 shares of the technology company’s stock valued at $452,000 after buying an additional 521 shares during the period. WealthCare Investment Partners LLC grew its position in AT&T by 2.2% during the second quarter. WealthCare Investment Partners LLC now owns 24,138 shares of the technology company’s stock worth $461,000 after buying an additional 525 shares in the last quarter. Finally, Little House Capital LLC raised its holdings in shares of AT&T by 4.8% in the 3rd quarter. Little House Capital LLC now owns 11,619 shares of the technology company’s stock valued at $256,000 after acquiring an additional 537 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Royal Bank of Canada reissued a “sector perform” rating and set a $22.00 price objective on shares of AT&T in a report on Thursday. The Goldman Sachs Group initiated coverage on shares of AT&T in a report on Monday, July 1st. They issued a “buy” rating and a $22.00 price target on the stock. Evercore ISI lifted their price objective on shares of AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a report on Thursday. TD Cowen increased their target price on AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Finally, Hsbc Global Res raised AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $23.40.

AT&T Trading Down 1.6 %

NYSE:T opened at $21.84 on Friday. The firm has a market capitalization of $156.60 billion, a P/E ratio of 11.74, a P/E/G ratio of 3.67 and a beta of 0.60. 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 company has a fifty day moving average of $21.15 and a 200 day moving average of $19.08. AT&T Inc. has a 52 week low of $14.74 and a 52 week high of $22.58.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.57 by $0.03. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The firm had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. During the same period in the prior year, the firm posted $0.64 earnings per share. The company’s quarterly revenue was down .5% compared to the same quarter last year. On average, research analysts predict that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be paid 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 5.08%. AT&T’s dividend payout ratio (DPR) 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.