87,576 Shares in AT&T Inc. $T Acquired by Iowa State Bank

Iowa State Bank acquired a new position in shares of AT&T Inc. (NYSE:T) during the third quarter, HoldingsChannel reports. The firm acquired 87,576 shares of the technology company’s stock, valued at approximately $2,473,000.

Other institutional investors have also recently bought and sold shares of the company. Summit Financial Wealth Advisors LLC lifted its position in shares of AT&T by 0.8% in the third quarter. Summit Financial Wealth Advisors LLC now owns 479,886 shares of the technology company’s stock worth $13,221,000 after purchasing an additional 3,637 shares in the last quarter. Aaron Wealth Advisors LLC increased its stake in AT&T by 60.6% in the 3rd quarter. Aaron Wealth Advisors LLC now owns 81,472 shares of the technology company’s stock valued at $2,301,000 after buying an additional 30,739 shares during the last quarter. GAMMA Investing LLC lifted its position in AT&T by 5.1% during the 3rd quarter. GAMMA Investing LLC now owns 205,689 shares of the technology company’s stock worth $5,809,000 after buying an additional 9,901 shares in the last quarter. Global Wealth Strategies & Associates boosted its stake in shares of AT&T by 10.7% during the 3rd quarter. Global Wealth Strategies & Associates now owns 4,025 shares of the technology company’s stock worth $114,000 after buying an additional 390 shares during the last quarter. Finally, Rydar Equities Inc. acquired a new position in shares of AT&T during the 2nd quarter worth about $2,986,000. Institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $33.00 target price (up previously from $31.00) on shares of AT&T in a research report on Thursday, September 18th. TD Cowen boosted their price target on AT&T from $32.00 to $33.00 and gave the stock a “hold” rating in a research report on Thursday, October 23rd. Sanford C. Bernstein increased their price objective on AT&T from $31.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, September 4th. Citigroup reissued a “buy” rating on shares of AT&T in a research note on Tuesday, August 26th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of AT&T in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, AT&T has an average rating of “Moderate Buy” and a consensus target price of $30.55.

AT&T Stock Performance

T opened at $24.33 on Tuesday. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 1.01. AT&T Inc. has a 12-month low of $21.38 and a 12-month high of $29.79. The business has a 50 day moving average of $25.37 and a 200-day moving average of $27.23. The stock has a market cap of $172.46 billion, a price-to-earnings ratio of 7.90, a PEG ratio of 1.44 and a beta of 0.38.

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

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, January 12th will be paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date is Monday, January 12th. AT&T’s dividend payout ratio (DPR) is currently 36.04%.

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.