Park Avenue Securities LLC Trims Position in AT&T Inc. (NYSE:T)

Park Avenue Securities LLC lowered its holdings in AT&T Inc. (NYSE:T) by 9.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 235,341 shares of the technology company’s stock after selling 24,773 shares during the period. Park Avenue Securities LLC’s holdings in AT&T were worth $5,177,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in T. Pineridge Advisors LLC acquired a new position in AT&T during the fourth quarter worth approximately $25,000. Strategic Financial Concepts LLC increased its holdings in shares of AT&T by 227.6% during the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $25,000 after buying an additional 91,578 shares during the last quarter. Riggs Asset Managment Co. Inc. raised its position in shares of AT&T by 356.5% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after buying an additional 1,116 shares during the period. American Capital Advisory LLC raised its position in shares of AT&T by 107.5% in the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after buying an additional 807 shares during the period. Finally, Altshuler Shaham Ltd acquired a new position in AT&T in the second quarter valued at $30,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Stock Performance

T stock traded down $0.14 during midday trading on Friday, reaching $21.91. The company had a trading volume of 24,545,359 shares, compared to its average volume of 35,977,004. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. The stock has a 50 day moving average price of $20.47 and a 200 day moving average price of $18.66. The firm has a market capitalization of $157.10 billion, a PE ratio of 11.78, a P/E/G ratio of 3.75 and a beta of 0.59. AT&T Inc. has a fifty-two week low of $14.12 and a fifty-two week high of $22.34.

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, meeting the consensus estimate of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The company had revenue of $29.80 billion during the quarter, compared to the consensus estimate of $30.05 billion. During the same quarter in the previous year, the company posted $0.63 earnings per share. The company’s revenue for the quarter was down .3% compared to the same quarter last year. Analysts anticipate that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 5.07%. The ex-dividend date is Thursday, October 10th. AT&T’s payout ratio is currently 59.68%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on T. BNP Paribas upgraded shares of AT&T from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 11th. Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a research note on Tuesday. Barclays upped their price target on shares of AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Daiwa America upgraded AT&T to a “hold” rating in a report on Friday, July 26th. Finally, Redburn Atlantic upgraded AT&T to a “strong sell” rating in a research note on Monday, September 16th. One 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 stock. Based on data from MarketBeat, the company currently has a consensus 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.