BCGM Wealth Management LLC Sells 1,914 Shares of AT&T Inc. (NYSE:T)

BCGM Wealth Management LLC lowered its stake in shares of AT&T Inc. (NYSE:T) by 8.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,646 shares of the technology company’s stock after selling 1,914 shares during the period. BCGM Wealth Management LLC’s holdings in AT&T were worth $476,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Davidson Kempner Capital Management LP bought a new stake in AT&T during the 2nd quarter valued at $23,888,000. Talbot Financial LLC bought a new stake in shares of AT&T during the third quarter worth about $7,438,000. Mackenzie Financial Corp raised its holdings in shares of AT&T by 12.2% in the 2nd quarter. Mackenzie Financial Corp now owns 2,641,856 shares of the technology company’s stock worth $50,486,000 after acquiring an additional 288,093 shares during the last quarter. DRW Securities LLC lifted its position in AT&T by 642.2% in the 2nd quarter. DRW Securities LLC now owns 104,309 shares of the technology company’s stock valued at $1,997,000 after acquiring an additional 90,255 shares in the last quarter. Finally, Van ECK Associates Corp boosted its stake in AT&T by 7.2% during the 3rd quarter. Van ECK Associates Corp now owns 396,958 shares of the technology company’s stock valued at $8,928,000 after purchasing an additional 26,706 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

T has been the subject of several analyst reports. Oppenheimer increased their price objective on AT&T from $23.00 to $24.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Moffett Nathanson raised their price objective on AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. upped their target price on shares of AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Tigress Financial raised their price target 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. Finally, Evercore ISI boosted their price target on shares of AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.40.

AT&T Stock Up 1.9 %

Shares of NYSE T opened at $22.68 on Friday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. The stock has a market capitalization of $162.74 billion, a PE ratio of 18.44, a P/E/G ratio of 3.40 and a beta of 0.59. AT&T Inc. has a one year low of $15.75 and a one year high of $22.75. The business’s fifty day moving average price is $21.89 and its 200-day moving average price is $19.73.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.57 by $0.03. The business had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The company’s revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.64 earnings per share. On average, equities research analysts anticipate that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.89%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

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.