HBW Advisory Services LLC Has $4.16 Million Position in AT&T Inc. (NYSE:T)

HBW Advisory Services LLC reduced its stake in shares of AT&T Inc. (NYSE:T) by 6.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 189,283 shares of the technology company’s stock after selling 12,066 shares during the quarter. HBW Advisory Services LLC’s holdings in AT&T were worth $4,164,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Davidson Kempner Capital Management LP bought a new position in AT&T during the 2nd quarter worth approximately $23,888,000. Mackenzie Financial Corp raised its position 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 purchasing an additional 288,093 shares during the period. DRW Securities LLC lifted its holdings in shares of AT&T by 642.2% during the 2nd quarter. DRW Securities LLC now owns 104,309 shares of the technology company’s stock valued at $1,997,000 after purchasing an additional 90,255 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of AT&T by 4.3% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 1,037,529 shares of the technology company’s stock valued at $19,827,000 after purchasing an additional 43,062 shares during the period. Finally, M&G Plc acquired a new stake in AT&T during the 1st quarter worth approximately $9,074,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on T. Daiwa America raised shares of AT&T to a “hold” rating in a research report on Friday, July 26th. Evercore ISI lifted their target price on AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a research report on Thursday, July 25th. Tigress Financial upped their price target on AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Scotiabank lowered shares of AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, AT&T has a consensus rating of “Moderate Buy” and an average price target of $22.38.

AT&T Stock Down 0.8 %

NYSE:T traded down $0.17 during trading hours on Friday, reaching $21.88. The company had a trading volume of 15,103,879 shares, compared to its average volume of 35,925,992. The business’s 50-day simple moving average is $20.41 and its two-hundred day simple moving average is $18.63. AT&T Inc. has a twelve month low of $14.12 and a twelve month high of $22.34. The firm has a market cap of $156.88 billion, a price-to-earnings ratio of 11.77, a P/E/G ratio of 3.75 and a beta of 0.59. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The business had revenue of $29.80 billion for the quarter, compared to analyst estimates of $30.05 billion. During the same quarter in the prior year, the company earned $0.63 earnings per share. The company’s quarterly revenue was down .3% on a year-over-year basis. On average, equities analysts expect that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 5.07%. The ex-dividend date is Thursday, October 10th. AT&T’s payout ratio 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.