Prospect Financial Services LLC Sells 6,384 Shares of AT&T Inc. (NYSE:T)

Prospect Financial Services LLC reduced its stake in AT&T Inc. (NYSE:T) by 22.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,964 shares of the technology company’s stock after selling 6,384 shares during the period. Prospect Financial Services LLC’s holdings in AT&T were worth $483,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in T. Syon Capital LLC increased its holdings in shares of AT&T by 46.3% during the fourth quarter. Syon Capital LLC now owns 16,652 shares of the technology company’s stock valued at $279,000 after acquiring an additional 5,269 shares in the last quarter. Fisher Asset Management LLC raised its holdings in AT&T by 29.4% during the fourth quarter. Fisher Asset Management LLC now owns 130,844 shares of the technology company’s stock worth $2,196,000 after buying an additional 29,757 shares during the last quarter. First Hawaiian Bank lifted its stake in shares of AT&T by 4.2% in the first quarter. First Hawaiian Bank now owns 135,828 shares of the technology company’s stock valued at $2,391,000 after buying an additional 5,422 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in shares of AT&T by 7.5% during the first quarter. Massmutual Trust Co. FSB ADV now owns 29,340 shares of the technology company’s stock valued at $516,000 after buying an additional 2,036 shares during the last quarter. Finally, Farmers Trust Co. increased its position in shares of AT&T by 3.1% during the first quarter. Farmers Trust Co. now owns 354,737 shares of the technology company’s stock worth $6,243,000 after acquiring an additional 10,546 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on T. Citigroup lifted their price target on AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Tigress Financial raised their price objective on AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Barclays lifted their price objective on shares of AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a research report on Monday, September 16th. Finally, Moffett Nathanson boosted their price target on shares of AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $22.69.

AT&T Stock Up 1.2 %

T stock opened at $21.53 on Wednesday. The stock has a fifty day moving average of $20.81 and a 200-day moving average of $18.89. AT&T Inc. has a fifty-two week low of $14.23 and a fifty-two week high of $22.34. The company has a market capitalization 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 debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70.

AT&T (NYSE:T) last issued its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, hitting analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $30.05 billion. During the same quarter last year, the business earned $0.63 earnings per share. The company’s quarterly revenue was down .3% on a year-over-year basis. As a group, equities research analysts predict that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be given a dividend of $0.2775 per share. The ex-dividend date is Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.16%. AT&T’s dividend payout ratio is currently 59.68%.

AT&T 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.