Bruce G. Allen Investments LLC Lowers Position in AT&T Inc. (NYSE:T)

Bruce G. Allen Investments LLC cut its stake in shares of AT&T Inc. (NYSE:T) by 3.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 26,604 shares of the technology company’s stock after selling 879 shares during the period. Bruce G. Allen Investments LLC’s holdings in AT&T were worth $585,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Pineridge Advisors LLC bought a new stake in AT&T during the fourth quarter valued at about $25,000. Strategic Financial Concepts LLC raised its holdings in AT&T by 227.6% during the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after acquiring an additional 91,578 shares during the period. Riggs Asset Managment Co. Inc. raised its holdings in AT&T by 356.5% during the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after acquiring an additional 1,116 shares during the period. American Capital Advisory LLC raised its holdings in AT&T by 107.5% during the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after acquiring an additional 807 shares during the period. Finally, Altshuler Shaham Ltd purchased a new stake in shares of AT&T in the second quarter worth about $30,000. 57.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Evercore ISI boosted their target price on AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a research report on Thursday, July 25th. Tigress Financial boosted their target price on AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Oppenheimer upped their price objective on AT&T from $21.00 to $23.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Barclays upped their price objective on AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Finally, Scotiabank downgraded AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and an average price target of $22.38.

AT&T Stock Up 0.3 %

Shares of NYSE T opened at $21.94 on Thursday. AT&T Inc. has a 12-month low of $14.23 and a 12-month high of $22.34. The stock’s fifty day simple moving average is $20.58 and its two-hundred day simple moving average is $18.75. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $157.28 billion, a PE ratio of 11.79, a price-to-earnings-growth ratio of 3.74 and a beta of 0.60.

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

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be paid a $0.2775 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 5.06%. AT&T’s dividend payout ratio (DPR) is 59.68%.

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.