Concurrent Investment Advisors LLC Has $6.11 Million Holdings in AT&T Inc. (NYSE:T)

Concurrent Investment Advisors LLC decreased its stake in shares of AT&T Inc. (NYSE:T) by 20.9% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 277,577 shares of the technology company’s stock after selling 73,239 shares during the period. Concurrent Investment Advisors LLC’s holdings in AT&T were worth $6,107,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Davidson Kempner Capital Management LP bought a new position in shares of AT&T in the second quarter worth about $23,888,000. Talbot Financial LLC bought a new position in AT&T in the 3rd quarter worth approximately $7,438,000. Mackenzie Financial Corp lifted its holdings in shares of AT&T by 12.2% during the second quarter. Mackenzie Financial Corp now owns 2,641,856 shares of the technology company’s stock worth $50,486,000 after buying an additional 288,093 shares during the last quarter. DRW Securities LLC boosted its position in shares of AT&T by 642.2% in the second 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 during the period. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of AT&T by 4.3% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 1,037,529 shares of the technology company’s stock worth $19,827,000 after acquiring an additional 43,062 shares during the last quarter. 57.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on T shares. Oppenheimer increased their price target on shares of AT&T from $23.00 to $24.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Barclays increased their target price 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. Royal Bank of Canada restated a “sector perform” rating and set a $22.00 price target on shares of AT&T in a research note on Thursday, October 24th. Hsbc Global Res upgraded AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. lifted their price objective on AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $23.40.

AT&T Price Performance

T traded up $0.19 during trading on Wednesday, hitting $22.24. The company’s stock had a trading volume of 7,116,522 shares, compared to its average volume of 35,555,121. 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 stock has a market capitalization of $159.58 billion, a price-to-earnings ratio of 17.93, a price-to-earnings-growth ratio of 3.29 and a beta of 0.59. The firm’s 50 day moving average price is $21.56 and its two-hundred day moving average price is $19.44. AT&T Inc. has a 12 month low of $15.46 and a 12 month high of $22.73.

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

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were given a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.99%. AT&T’s payout ratio is 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.