Sugarloaf Wealth Management LLC Sells 925 Shares of AT&T Inc. (NYSE:T)

Sugarloaf Wealth Management LLC decreased its stake in shares of AT&T Inc. (NYSE:T) by 3.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 25,375 shares of the technology company’s stock after selling 925 shares during the period. Sugarloaf Wealth Management LLC’s holdings in AT&T were worth $558,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Davidson Kempner Capital Management LP bought a new stake in AT&T in the 2nd quarter valued at about $23,888,000. Mackenzie Financial Corp boosted its holdings in AT&T by 12.2% in the 2nd quarter. Mackenzie Financial Corp now owns 2,641,856 shares of the technology company’s stock valued at $50,486,000 after purchasing an additional 288,093 shares during the period. DRW Securities LLC boosted its holdings in AT&T by 642.2% in 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 during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in 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 bought a new stake in AT&T in the 1st quarter valued at about $9,074,000. Institutional investors own 57.10% of the company’s stock.

AT&T Stock Up 0.2 %

Shares of T stock traded up $0.04 on Tuesday, hitting $21.82. The stock had a trading volume of 4,648,567 shares, compared to its average volume of 35,749,262. The business has a 50 day moving average of $20.53 and a 200 day moving average of $18.71. The stock has a market cap of $156.45 billion, a price-to-earnings ratio of 11.75, a price-to-earnings-growth ratio of 3.78 and a beta of 0.60. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. AT&T Inc. has a 12-month low of $14.23 and a 12-month high of $22.34.

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

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be issued a $0.2775 dividend. The ex-dividend date is Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.09%. AT&T’s dividend payout ratio is currently 59.68%.

Analysts Set New Price Targets

A number of research firms have issued reports on T. Scotiabank downgraded shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. TD Cowen boosted their price objective on shares of AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Oppenheimer boosted their target price on shares of AT&T from $21.00 to $23.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Redburn Atlantic upgraded shares of AT&T to a “strong sell” rating in a research report on Monday, September 16th. Finally, Barclays boosted their target price on shares of AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.38.

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.