Aprio Wealth Management LLC Has $553,000 Position in AT&T Inc. (NYSE:T)

Aprio Wealth Management LLC cut its holdings in shares of AT&T Inc. (NYSE:T) by 12.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,119 shares of the technology company’s stock after selling 3,701 shares during the quarter. Aprio Wealth Management LLC’s holdings in AT&T were worth $553,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Waterloo Capital L.P. bought a new stake in shares of AT&T during the fourth quarter valued at approximately $174,000. Seven Eight Capital LP bought a new stake in shares of AT&T during the fourth quarter valued at approximately $719,000. Sei Investments Co. increased its position in shares of AT&T by 2.4% during the fourth quarter. Sei Investments Co. now owns 2,028,505 shares of the technology company’s stock valued at $34,038,000 after purchasing an additional 47,595 shares during the period. State of Tennessee Treasury Department increased its position in shares of AT&T by 13.1% during the fourth quarter. State of Tennessee Treasury Department now owns 2,996,181 shares of the technology company’s stock valued at $50,276,000 after purchasing an additional 346,346 shares during the period. Finally, Wasatch Advisors LP increased its position in shares of AT&T by 1.9% during the fourth quarter. Wasatch Advisors LP now owns 220,000 shares of the technology company’s stock valued at $3,692,000 after purchasing an additional 4,000 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Down 0.6 %

NYSE:T opened at $21.78 on Tuesday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. The company has a market cap of $156.17 billion, a PE ratio of 11.71, a PEG ratio of 3.78 and a beta of 0.60. AT&T Inc. has a 52-week low of $14.23 and a 52-week high of $22.34. The stock has a 50-day simple moving average of $20.47 and a 200 day simple moving average of $18.68.

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

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be paid a $0.2775 dividend. The ex-dividend date is Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 5.10%. AT&T’s dividend payout ratio is 59.68%.

Wall Street Analyst Weigh In

T has been the topic of a number of analyst reports. Oppenheimer upped their price target on AT&T from $21.00 to $23.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft upped their price target on AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Tigress Financial upped their price target on AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, September 27th. The Goldman Sachs Group started coverage on AT&T in a report on Monday, July 1st. They set a “buy” rating and a $22.00 target price on the stock. Finally, Evercore ISI increased their target price on AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.38.

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.