Heron Financial Group LLC Boosts Stake in AT&T Inc. (NYSE:T)

Heron Financial Group LLC boosted its position in shares of AT&T Inc. (NYSE:T) by 45.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,369 shares of the technology company’s stock after purchasing an additional 9,513 shares during the period. Heron Financial Group LLC’s holdings in AT&T were worth $871,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of T. Jaffetilchin Investment Partners LLC raised its stake in AT&T by 10.4% during the second quarter. Jaffetilchin Investment Partners LLC now owns 13,206 shares of the technology company’s stock worth $37,000 after purchasing an additional 1,248 shares during the period. NWK Group Inc. purchased a new position in AT&T during the second quarter worth about $65,000. JJJ Advisors Inc. raised its stake in AT&T by 212.3% during the second quarter. JJJ Advisors Inc. now owns 2,217 shares of the technology company’s stock worth $67,000 after purchasing an additional 1,507 shares during the period. Provident Wealth Management LLC purchased a new position in AT&T during the third quarter worth about $70,000. Finally, Litman Gregory Asset Management LLC raised its stake in AT&T by 844.0% during the second quarter. Litman Gregory Asset Management LLC now owns 2,983 shares of the technology company’s stock worth $90,000 after purchasing an additional 2,667 shares during the period. 52.29% of the stock is currently owned by institutional investors.

T has been the subject of a number of recent analyst reports. Bank of America reiterated a “buy” rating and set a $36.00 price target on shares of AT&T in a research report on Friday, July 24th. Scotiabank cut shares of AT&T from a “sector perform” rating to a “sector underperform” rating and dropped their price target for the company from $34.00 to $30.00 in a research report on Monday, August 31st. Royal Bank of Canada lifted their price target on shares of AT&T from $24.00 to $25.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. Morgan Stanley dropped their price target on shares of AT&T from $38.00 to $36.00 and set an “overweight” rating for the company in a research report on Wednesday, July 1st. Finally, Barclays initiated coverage on shares of AT&T in a research report on Friday, October 2nd. They set an “overweight” rating for the company. Six equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $33.56.

NYSE T opened at $27.33 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.79. AT&T Inc. has a 52 week low of $26.08 and a 52 week high of $39.70. The stock has a market capitalization of $194.73 billion, a PE ratio of 16.77, a price-to-earnings-growth ratio of 1.64 and a beta of 0.69. The firm has a 50 day moving average of $28.84 and a two-hundred day moving average of $29.74.

AT&T (NYSE:T) last posted its quarterly earnings results on Thursday, July 23rd. The technology company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.79 by $0.04. AT&T had a net margin of 6.84% and a return on equity of 13.03%. The company had revenue of $40.95 billion during the quarter, compared to analysts’ expectations of $40.87 billion. During the same quarter in the previous year, the business posted $0.89 EPS. The firm’s revenue was down 8.9% on a year-over-year basis. On average, equities research analysts expect that AT&T Inc. will post 3.21 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Monday, October 12th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 7.61%. The ex-dividend date of this dividend is Thursday, October 8th. AT&T’s dividend payout ratio (DPR) is presently 58.26%.

In other news, Director Stephen J. Luczo purchased 100,000 shares of the stock in a transaction on Thursday, July 23rd. The stock was bought at an average price of $29.69 per share, for a total transaction of $2,969,000.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.07% of the company’s stock.

AT&T Profile

AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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