Cladis Investment Advisory LLC Trims Stock Position in AT&T Inc. (NYSE:T)

Cladis Investment Advisory LLC trimmed its holdings in AT&T Inc. (NYSE:T) by 6.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 93,218 shares of the technology company’s stock after selling 6,469 shares during the quarter. AT&T accounts for approximately 1.4% of Cladis Investment Advisory LLC’s investment portfolio, making the stock its 18th biggest holding. Cladis Investment Advisory LLC’s holdings in AT&T were worth $2,051,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ritter Daniher Financial Advisory LLC DE lifted its stake in shares of AT&T by 169.2% in the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after purchasing an additional 841 shares during the period. Riggs Asset Managment Co. Inc. increased its holdings in AT&T by 356.5% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after buying an additional 1,116 shares in the last quarter. American Capital Advisory LLC raised its position in shares of AT&T by 107.5% in the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after acquiring an additional 807 shares during the period. Reston Wealth Management LLC acquired a new position in shares of AT&T in the third quarter worth about $35,000. Finally, Altshuler Shaham Ltd acquired a new stake in shares of AT&T during the 2nd quarter valued at about $30,000. 57.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Oppenheimer increased their price target on AT&T from $23.00 to $24.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Barclays lifted their price target on shares of AT&T from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Scotiabank cut shares of AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Wells Fargo & Company dropped their target price on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Finally, Redburn Atlantic upgraded shares of AT&T to a “strong sell” rating in a research report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has given 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 $23.53.

AT&T Price Performance

NYSE:T opened at $23.16 on Monday. The stock has a 50 day moving average price of $22.17 and a 200 day moving average price of $20.17. The stock has a market cap of $166.18 billion, a PE ratio of 18.83, a P/E/G ratio of 3.48 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. AT&T Inc. has a one year low of $15.94 and a one year high of $23.38.

AT&T (NYSE:T) last issued its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The business had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The company’s revenue for the quarter was down .5% on a year-over-year basis. During the same period last year, the company earned $0.64 EPS. Equities research analysts expect that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were paid a $0.2775 dividend. The ex-dividend date was Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.79%. AT&T’s dividend payout ratio (DPR) is 90.24%.

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.