Private Advisor Group LLC Lowers Stake in AT&T Inc. (NYSE:T)

Private Advisor Group LLC lessened its stake in shares of AT&T Inc. (NYSE:T) by 14.7% during the 4th quarter, HoldingsChannel reports. The firm owned 703,411 shares of the technology company’s stock after selling 120,932 shares during the quarter. Private Advisor Group LLC’s holdings in AT&T were worth $11,803,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Carmel Capital Partners LLC lifted its position in AT&T by 16,250.0% in the third quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock worth $25,000 after purchasing an additional 1,625 shares during the period. Lipe & Dalton bought a new position in shares of AT&T during the 3rd quarter worth about $30,000. Ramirez Asset Management Inc. bought a new position in shares of AT&T during the 3rd quarter worth about $30,000. Farmers & Merchants Trust Co of Chambersburg PA boosted its position in shares of AT&T by 35.3% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock valued at $39,000 after acquiring an additional 606 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. increased its stake in AT&T by 3,202.4% in the third quarter. Financial Gravity Asset Management Inc. now owns 2,708 shares of the technology company’s stock valued at $41,000 after acquiring an additional 2,626 shares during the period. 57.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on T. JPMorgan Chase & Co. raised AT&T from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $18.00 to $21.00 in a report on Thursday, February 1st. Barclays upgraded AT&T from an “equal weight” rating to an “overweight” rating and set a $20.00 price objective for the company in a research note on Monday, April 29th. Wolfe Research upgraded shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a research note on Tuesday, March 5th. TheStreet raised shares of AT&T from a “c” rating to a “b-” rating in a report on Wednesday, January 24th. Finally, StockNews.com cut shares of AT&T from a “buy” rating to a “hold” rating in a research note on Friday. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $20.81.

AT&T Trading Up 0.2 %

AT&T stock traded up $0.04 during mid-day trading on Tuesday, hitting $17.03. 14,039,549 shares of the company’s stock were exchanged, compared to its average volume of 38,645,586. AT&T Inc. has a fifty-two week low of $13.43 and a fifty-two week high of $18.16. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $122.11 billion, a P/E ratio of 9.18, a PEG ratio of 3.32 and a beta of 0.57. The company’s 50 day simple moving average is $16.98 and its 200-day simple moving average is $16.68.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.02. The business had revenue of $30.03 billion for the quarter, compared to analysts’ expectations of $30.62 billion. AT&T had a return on equity of 14.63% and a net margin of 11.13%. AT&T’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.60 EPS. On average, equities analysts anticipate that AT&T Inc. will post 2.24 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th were paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 6.52%. The ex-dividend date was Tuesday, April 9th. AT&T’s payout ratio is presently 59.68%.

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.