Investors Asset Management of Georgia Inc. GA ADV Lowers Holdings in AT&T Inc. (NYSE:T)

Investors Asset Management of Georgia Inc. GA ADV lowered its position in shares of AT&T Inc. (NYSE:T) by 2.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 54,458 shares of the technology company’s stock after selling 1,107 shares during the period. Investors Asset Management of Georgia Inc. GA ADV’s holdings in AT&T were worth $1,198,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV increased its holdings in shares of AT&T by 1,379.0% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 14,159,133 shares of the technology company’s stock valued at $270,581,000 after acquiring an additional 13,201,774 shares during the period. AQR Capital Management LLC lifted its position in shares of AT&T by 43.3% during the second quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock valued at $414,563,000 after buying an additional 6,602,586 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of AT&T by 7.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock worth $1,549,375,000 after buying an additional 5,592,123 shares during the last quarter. Thornburg Investment Management Inc. raised its stake in shares of AT&T by 22.0% during the 2nd quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company’s stock worth $477,528,000 after acquiring an additional 4,511,725 shares in the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new position in AT&T in the second quarter worth $78,570,000. 57.10% of the stock is currently owned by institutional investors.

AT&T Price Performance

Shares of NYSE:T traded down $0.42 during trading on Friday, reaching $22.12. 37,169,974 shares of the company’s stock traded hands, compared to its average volume of 33,312,150. The firm has a market cap of $158.72 billion, a PE ratio of 17.98, a P/E/G ratio of 3.38 and a beta of 0.59. AT&T Inc. has a fifty-two week low of $15.46 and a fifty-two week high of $22.73. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. The company has a 50-day simple moving average of $21.47 and a 200-day simple moving average of $19.31.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The business had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. During the same period in the previous year, the business earned $0.64 earnings per share. The business’s revenue was down .5% compared to the same quarter last year. As a group, 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 disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 5.02%. The ex-dividend date was Thursday, October 10th. AT&T’s payout ratio is 90.24%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on T shares. Scotiabank cut AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Daiwa America raised shares of AT&T to a “hold” rating in a report on Friday, July 26th. Royal Bank of Canada restated a “sector perform” rating and issued a $22.00 target price on shares of AT&T in a research note on Thursday, October 24th. JPMorgan Chase & Co. boosted their price target on AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Finally, Citigroup lifted their target price on AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.40.

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.