Private Advisor Group LLC Trims Position in AT&T Inc. (NYSE:T)

Private Advisor Group LLC reduced its holdings in AT&T Inc. (NYSE:T) by 2.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 666,919 shares of the technology company’s stock after selling 17,859 shares during the period. Private Advisor Group LLC’s holdings in AT&T were worth $14,672,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Strategic Financial Concepts LLC boosted its holdings in AT&T by 227.6% in the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after purchasing an additional 91,578 shares during the last quarter. Riggs Asset Managment Co. Inc. boosted its stake in shares of AT&T by 356.5% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after buying an additional 1,116 shares during the last quarter. American Capital Advisory LLC grew its holdings in AT&T by 107.5% during the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after acquiring an additional 807 shares during the period. Altshuler Shaham Ltd purchased a new position in AT&T during the second quarter valued at approximately $30,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its holdings in AT&T by 176.6% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock valued at $35,000 after acquiring an additional 1,192 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Trading Up 4.6 %

Shares of T stock opened at $22.49 on Thursday. AT&T Inc. has a fifty-two week low of $14.74 and a fifty-two week high of $22.58. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. The stock’s fifty day moving average is $21.09 and its two-hundred day moving average is $19.06. The firm has a market capitalization of $161.26 billion, a P/E ratio of 12.93, a PEG ratio of 3.73 and a beta of 0.60.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, hitting the consensus estimate of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The firm had revenue of $29.80 billion for the quarter, compared to the consensus estimate of $30.05 billion. During the same period last year, the firm posted $0.63 earnings per share. The company’s revenue for the quarter was down .3% on a year-over-year basis. Research analysts expect that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.94%. The ex-dividend date of this dividend is Thursday, October 10th. AT&T’s dividend payout ratio is currently 63.79%.

Analyst Ratings Changes

T has been the topic of a number of analyst reports. Royal Bank of Canada raised their price objective on shares of AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 25th. Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a report on Monday, September 16th. The Goldman Sachs Group began coverage on shares of AT&T in a research note on Monday, July 1st. They set a “buy” rating and a $22.00 target price on the stock. Oppenheimer lifted their price target on AT&T from $21.00 to $23.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, Tigress Financial increased their price target on AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $22.93.

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.