Dover Advisors LLC Sells 1,958 Shares of AT&T Inc. (NYSE:T)

Dover Advisors LLC reduced its holdings in AT&T Inc. (NYSE:T) by 14.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,594 shares of the technology company’s stock after selling 1,958 shares during the quarter. Dover Advisors LLC’s holdings in AT&T were worth $255,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in T. Hayek Kallen Investment Management grew its position in shares of AT&T by 0.8% during the 3rd quarter. Hayek Kallen Investment Management now owns 60,271 shares of the technology company’s stock valued at $1,326,000 after acquiring an additional 500 shares during the period. Octavia Wealth Advisors LLC grew its holdings in AT&T by 2.1% in the second quarter. Octavia Wealth Advisors LLC now owns 25,313 shares of the technology company’s stock valued at $484,000 after purchasing an additional 519 shares during the period. Carolinas Wealth Consulting LLC increased its position in shares of AT&T by 2.3% in the second quarter. Carolinas Wealth Consulting LLC now owns 23,650 shares of the technology company’s stock valued at $452,000 after buying an additional 521 shares in the last quarter. WealthCare Investment Partners LLC raised its stake in shares of AT&T by 2.2% during the 2nd quarter. WealthCare Investment Partners LLC now owns 24,138 shares of the technology company’s stock worth $461,000 after buying an additional 525 shares during the period. Finally, Integral Investment Advisors Inc. lifted its position in shares of AT&T by 3.2% during the 2nd quarter. Integral Investment Advisors Inc. now owns 17,177 shares of the technology company’s stock valued at $322,000 after buying an additional 538 shares in the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Stock Up 1.2 %

AT&T stock traded up $0.26 during mid-day trading on Tuesday, hitting $21.53. The company had a trading volume of 35,936,913 shares, compared to its average volume of 35,689,582. The stock has a market cap of $154.34 billion, a price-to-earnings ratio of 11.57, a PEG ratio of 3.62 and a beta of 0.60. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. AT&T Inc. has a 1 year low of $14.23 and a 1 year high of $22.34. The business has a fifty day moving average of $20.76 and a 200 day moving average of $18.86.

AT&T (NYSE:T) last posted its earnings results on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, hitting analysts’ consensus estimates of $0.57. The business had revenue of $29.80 billion for the quarter, compared to analysts’ expectations of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The business’s revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.63 earnings per share. On average, sell-side 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 declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.16%. The ex-dividend date is Thursday, October 10th. AT&T’s dividend payout ratio is currently 59.68%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on T. Deutsche Bank Aktiengesellschaft raised their target price on AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Tigress Financial increased their target price on shares of AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Wells Fargo & Company raised their price target on shares of AT&T from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, The Goldman Sachs Group started coverage on shares of AT&T in a research note on Monday, July 1st. They set a “buy” rating and a $22.00 price objective for the company. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $22.69.

About AT&T

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.