Strategic Advisors LLC Reduces Stock Position in AT&T Inc. (NYSE:T)

Strategic Advisors LLC trimmed its holdings in shares of AT&T Inc. (NYSE:T) by 4.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 144,408 shares of the technology company’s stock after selling 6,800 shares during the period. Strategic Advisors LLC’s holdings in AT&T were worth $3,177,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV boosted its stake in AT&T by 1,379.0% in the second quarter. Mercer Global Advisors Inc. ADV now owns 14,159,133 shares of the technology company’s stock valued at $270,581,000 after acquiring an additional 13,201,774 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of AT&T by 43.3% in the 2nd quarter. AQR Capital Management LLC now owns 21,853,624 shares of the technology company’s stock valued at $414,563,000 after purchasing an additional 6,602,586 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of AT&T by 7.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock valued at $1,549,375,000 after purchasing an additional 5,592,123 shares during the period. Thornburg Investment Management Inc. grew its stake in AT&T by 22.0% during the 2nd quarter. Thornburg Investment Management Inc. now owns 24,988,396 shares of the technology company’s stock worth $477,528,000 after buying an additional 4,511,725 shares during the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new position in AT&T during the 2nd quarter worth approximately $78,570,000. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on T. Moffett Nathanson increased their price objective on AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Scotiabank cut shares of AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. UBS Group reissued a “buy” rating and set a $24.00 price objective on shares of AT&T in a research report on Tuesday, June 18th. TD Cowen upped their target price 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. Finally, Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a report on Monday, September 16th. One equities research 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. According to MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.38.

AT&T Trading Down 1.7 %

NYSE:T traded down $0.37 on Thursday, reaching $21.28. The stock had a trading volume of 14,997,900 shares, compared to its average volume of 35,678,961. The firm’s fifty day moving average is $20.64 and its two-hundred day moving average is $18.77. 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 company has a market cap of $152.58 billion, a price-to-earnings ratio of 11.47, a P/E/G ratio of 3.74 and a beta of 0.60. 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 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The firm had revenue of $29.80 billion for the quarter, compared to analyst estimates of $30.05 billion. During the same quarter last year, the business earned $0.63 earnings per share. AT&T’s revenue was down .3% compared to the same quarter last year. Equities analysts expect that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Announces Dividend

The firm 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 annualized dividend and a yield of 5.22%. AT&T’s payout ratio is currently 59.68%.

AT&T Company 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.