SMH Capital Advisors Inc. Trims Stock Position in AT&T Inc. (NYSE:T)

SMH Capital Advisors Inc. reduced its holdings in AT&T Inc. (NYSE:T) by 2.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,107 shares of the technology company’s stock after selling 607 shares during the quarter. AT&T makes up 1.5% of SMH Capital Advisors Inc.’s portfolio, making the stock its 12th biggest holding. SMH Capital Advisors Inc.’s holdings in AT&T were worth $499,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the stock. Riggs Asset Managment Co. Inc. lifted its stake in shares of 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 worth $27,000 after acquiring an additional 1,116 shares in the last quarter. Pineridge Advisors LLC acquired a new stake in shares of AT&T in the 4th quarter worth about $25,000. Frank Rimerman Advisors LLC acquired a new position in shares of AT&T during the fourth quarter worth approximately $25,000. American Capital Advisory LLC boosted its position in AT&T by 107.5% during the 2nd 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. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in shares of AT&T by 176.6% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock worth $35,000 after buying an additional 1,192 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

T has been the topic of several recent research reports. Oppenheimer lifted their price objective on shares of AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. UBS Group reissued a “buy” rating and issued a $24.00 target price on shares of AT&T in a research report on Tuesday, June 18th. Evercore ISI increased their price objective on AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a report on Thursday, July 25th. Barclays lifted their target price on shares of AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, June 28th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $22.31.

AT&T Price Performance

Shares of NYSE:T opened at $21.74 on Thursday. The firm has a market cap of $155.84 billion, a PE ratio of 11.69, a price-to-earnings-growth ratio of 3.68 and a beta of 0.59. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. AT&T Inc. has a 52 week low of $14.12 and a 52 week high of $22.34. The firm’s fifty day moving average is $19.78 and its 200-day moving average is $18.28.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, meeting analysts’ consensus estimates of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The business had revenue of $29.80 billion for the quarter, compared to analysts’ expectations of $30.05 billion. During the same quarter in the prior year, the firm posted $0.63 earnings per share. The business’s quarterly revenue was down .3% compared to the same quarter last year. Sell-side analysts predict that AT&T Inc. will post 2.2 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 5.11%. The ex-dividend date of this dividend was Wednesday, July 10th. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

AT&T Company 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.