PSI Advisors LLC Sells 2,976 Shares of AT&T Inc. (NYSE:T)

PSI Advisors LLC reduced its holdings in AT&T Inc. (NYSE:T) by 34.8% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,574 shares of the technology company’s stock after selling 2,976 shares during the quarter. PSI Advisors LLC’s holdings in AT&T were worth $123,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in T. Cherry Creek Investment Advisors Inc. grew its holdings in shares of AT&T by 88.6% during the third quarter. Cherry Creek Investment Advisors Inc. now owns 98,881 shares of the technology company’s stock worth $2,175,000 after purchasing an additional 46,460 shares in the last quarter. Romano Brothers AND Company grew its holdings in shares of AT&T by 5.5% during the third quarter. Romano Brothers AND Company now owns 187,069 shares of the technology company’s stock worth $4,116,000 after purchasing an additional 9,800 shares in the last quarter. Capital Investment Counsel Inc grew its holdings in shares of AT&T by 4.3% during the third quarter. Capital Investment Counsel Inc now owns 13,394 shares of the technology company’s stock worth $295,000 after purchasing an additional 552 shares in the last quarter. Heartland Bank & Trust Co grew its holdings in shares of AT&T by 3.1% during the third quarter. Heartland Bank & Trust Co now owns 22,785 shares of the technology company’s stock worth $501,000 after purchasing an additional 692 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC grew its holdings in shares of AT&T by 3.2% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 720,038 shares of the technology company’s stock worth $15,841,000 after purchasing an additional 22,278 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors.

AT&T Price Performance

Shares of AT&T stock opened at $22.17 on Thursday. 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 company has a market cap of $158.96 billion, a PE ratio of 12.93, a P/E/G ratio of 3.73 and a beta of 0.60. The business has a 50 day moving average of $21.09 and a 200 day moving average of $19.06. AT&T Inc. has a 52 week low of $14.74 and a 52 week high of $22.58.

AT&T (NYSE:T) last announced its earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The company had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.64 earnings per share. As a group, equities research analysts forecast that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be issued 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 5.01%. AT&T’s dividend payout ratio (DPR) is 63.79%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on T. Daiwa America raised AT&T to a “hold” rating in a research note on Friday, July 26th. TD Cowen upped their target price on AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Barclays upped their target price on AT&T from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday. Moffett Nathanson upped their target price on AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Finally, Redburn Atlantic raised AT&T to a “strong sell” rating in a research note on Monday, September 16th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $23.07.

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.