Quent Capital LLC Reduces Stock Position in AT&T Inc. (NYSE:T)

Quent Capital LLC cut its stake in shares of AT&T Inc. (NYSE:T) by 16.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 13,773 shares of the technology company’s stock after selling 2,782 shares during the period. Quent Capital LLC’s holdings in AT&T were worth $303,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Pineridge Advisors LLC purchased a new position in shares of AT&T in the fourth quarter worth approximately $25,000. Strategic Financial Concepts LLC boosted its stake 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 acquiring an additional 91,578 shares during the last quarter. Riggs Asset Managment Co. Inc. grew its position in shares of AT&T by 356.5% during the 2nd 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 increased its stake 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 purchasing an additional 807 shares in the last quarter. Finally, Altshuler Shaham Ltd bought a new position in AT&T in the 2nd quarter worth $30,000. 57.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. TD Cowen increased their target price on shares of AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft raised their price objective 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. Royal Bank of Canada upped their target price on shares of AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a report on Thursday, July 25th. Redburn Atlantic raised AT&T to a “strong sell” rating in a report on Monday, September 16th. Finally, Hsbc Global Res raised AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $22.38.

AT&T Stock Down 0.6 %

Shares of NYSE:T opened at $21.91 on Friday. The business has a 50 day simple moving average of $20.47 and a two-hundred day simple moving average of $18.67. AT&T Inc. has a 1 year low of $14.12 and a 1 year high of $22.34. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. The firm has a market capitalization of $157.10 billion, a PE ratio of 11.78, a price-to-earnings-growth ratio of 3.78 and a beta of 0.60.

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

AT&T Announces Dividend

The firm also recently disclosed 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. This represents a $1.11 dividend on an annualized basis and a yield of 5.07%. The ex-dividend date is Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is presently 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.