Redhawk Wealth Advisors Inc. Lowers Position in AT&T Inc. (NYSE:T)

Redhawk Wealth Advisors Inc. trimmed its position in AT&T Inc. (NYSE:T) by 7.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,162 shares of the technology company’s stock after selling 2,196 shares during the period. Redhawk Wealth Advisors Inc.’s holdings in AT&T were worth $641,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in T. Legacy Investment Solutions LLC purchased a new position in shares of AT&T during the third quarter valued at approximately $25,000. Ritter Daniher Financial Advisory LLC DE increased its position in AT&T by 169.2% during 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 buying an additional 841 shares in the last quarter. Altshuler Shaham Ltd bought a new position in AT&T during the 2nd quarter valued at approximately $30,000. Reston Wealth Management LLC purchased a new position in AT&T during the third quarter valued at $35,000. Finally, Safe Harbor Fiduciary LLC bought a new stake in AT&T in the third quarter worth $35,000. Institutional investors own 57.10% of the company’s stock.

AT&T Trading Up 0.5 %

Shares of NYSE:T opened at $22.02 on Friday. The stock has a 50 day moving average of $22.79 and a 200 day moving average of $21.28. The company has a market cap of $157.96 billion, a PE ratio of 17.90, a price-to-earnings-growth ratio of 3.46 and a beta of 0.59. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $24.03. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share 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 analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the business posted $0.64 earnings per share. As a group, equities research analysts expect that AT&T Inc. will post 2.2 EPS for the current year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be given a $0.2775 dividend. The ex-dividend date is Friday, January 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.04%. AT&T’s payout ratio is 90.24%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Citigroup lifted their price target on AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Evercore ISI upped their target price on shares of AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. raised their price target on shares of AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Wells Fargo & Company decreased their price objective on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Finally, Sanford C. Bernstein began coverage on AT&T in a research note on Tuesday, December 10th. They set an “outperform” rating and a $28.00 target price on the stock. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $25.83.

About AT&T

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.