CWA Asset Management Group LLC Buys Shares of 32,640 AT&T Inc. (NYSE:T)

CWA Asset Management Group LLC purchased a new stake in shares of AT&T Inc. (NYSE:T) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 32,640 shares of the technology company’s stock, valued at approximately $718,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Davidson Kempner Capital Management LP acquired a new position in AT&T in the 2nd quarter valued at about $23,888,000. Talbot Financial LLC acquired a new stake in shares of AT&T during the 3rd quarter worth about $7,438,000. Mackenzie Financial Corp lifted its stake in AT&T by 12.2% during the second quarter. Mackenzie Financial Corp now owns 2,641,856 shares of the technology company’s stock worth $50,486,000 after purchasing an additional 288,093 shares during the last quarter. DRW Securities LLC boosted its holdings in AT&T by 642.2% in the second quarter. DRW Securities LLC now owns 104,309 shares of the technology company’s stock valued at $1,997,000 after purchasing an additional 90,255 shares in the last quarter. Finally, Van ECK Associates Corp increased its stake in AT&T by 7.2% in the third quarter. Van ECK Associates Corp now owns 396,958 shares of the technology company’s stock valued at $8,928,000 after purchasing an additional 26,706 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Price Performance

AT&T stock opened at $22.34 on Monday. The company has a market cap of $160.30 billion, a P/E ratio of 18.16, a price-to-earnings-growth ratio of 3.35 and a beta of 0.59. AT&T Inc. has a one year low of $15.46 and a one year high of $22.73. The business has a fifty day moving average of $21.70 and a two-hundred day moving average of $19.54. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73.

AT&T (NYSE:T) last announced 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 7.42% and a return on equity of 13.97%. The firm had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. During the same quarter last year, the business earned $0.64 earnings per share. The business’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, analysts predict that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Announces Dividend

The company also recently announced 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. The ex-dividend date was Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.97%. AT&T’s payout ratio is 90.24%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. TD Cowen upped their target price on shares of AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. raised their price objective on AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Citigroup boosted their target price on AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Daiwa America upgraded AT&T to a “hold” rating in a research note on Friday, July 26th. Finally, Tigress Financial boosted their price objective on AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, September 27th. One research 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $23.40.

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.