Financial Gravity Companies Inc. Purchases Shares of 9,760 AT&T Inc. $T

Financial Gravity Companies Inc. purchased a new stake in AT&T Inc. (NYSE:T) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 9,760 shares of the technology company’s stock, valued at approximately $282,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC increased its position in shares of AT&T by 26.5% during the fourth quarter. Brighton Jones LLC now owns 48,579 shares of the technology company’s stock worth $1,106,000 after buying an additional 10,188 shares during the period. Archer Investment Corp boosted its position in AT&T by 22.3% during the first quarter. Archer Investment Corp now owns 6,039 shares of the technology company’s stock valued at $171,000 after acquiring an additional 1,101 shares during the last quarter. Private Advisor Group LLC boosted its position in AT&T by 2.9% during the first quarter. Private Advisor Group LLC now owns 655,847 shares of the technology company’s stock valued at $18,547,000 after acquiring an additional 18,402 shares during the last quarter. Csenge Advisory Group raised its position in shares of AT&T by 9.6% in the 1st quarter. Csenge Advisory Group now owns 158,857 shares of the technology company’s stock worth $4,313,000 after acquiring an additional 13,952 shares in the last quarter. Finally, Financial Harvest LLC bought a new position in shares of AT&T in the 1st quarter worth about $107,000. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Stock Down 0.7%

Shares of T opened at $25.58 on Friday. The firm has a market cap of $181.31 billion, a P/E ratio of 8.30, a P/E/G ratio of 2.16 and a beta of 0.40. The stock has a 50 day simple moving average of $26.75 and a two-hundred day simple moving average of $27.56. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.01 and a quick ratio of 0.96. AT&T Inc. has a 1 year low of $21.38 and a 1 year high of $29.79.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 EPS for the quarter, hitting the consensus estimate of $0.54. The firm had revenue of $30.71 billion for the quarter, compared to the consensus estimate of $30.85 billion. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The business’s revenue was up 1.7% compared to the same quarter last year. During the same period last year, the firm posted $0.60 earnings per share. On average, analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Friday, October 10th were given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date was Friday, October 10th. AT&T’s dividend payout ratio (DPR) is presently 36.04%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on T shares. Williams Trading set a $33.00 target price on AT&T in a research note on Thursday, October 23rd. Barclays cut their price target on AT&T from $30.00 to $28.00 and set an “equal weight” rating on the stock in a report on Thursday, October 23rd. JPMorgan Chase & Co. raised their price objective on shares of AT&T from $31.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. TD Cowen boosted their target price on shares of AT&T from $32.00 to $33.00 and gave the company a “hold” rating in a research report on Thursday, October 23rd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of AT&T in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $30.64.

AT&T Company Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.