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

SpiderRock Advisors LLC reduced its holdings in AT&T Inc. (NYSE:T) by 18.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 82,611 shares of the technology company’s stock after selling 18,113 shares during the period. SpiderRock Advisors LLC’s holdings in AT&T were worth $1,817,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in T. Davidson Kempner Capital Management LP bought a new stake in AT&T during the 2nd quarter valued at about $23,888,000. Talbot Financial LLC bought a new stake in AT&T during the 3rd quarter valued at about $7,438,000. Mackenzie Financial Corp lifted its holdings in AT&T by 12.2% during the 2nd quarter. Mackenzie Financial Corp now owns 2,641,856 shares of the technology company’s stock valued at $50,486,000 after buying an additional 288,093 shares in the last quarter. DRW Securities LLC lifted its holdings in AT&T by 642.2% during the 2nd quarter. DRW Securities LLC now owns 104,309 shares of the technology company’s stock valued at $1,997,000 after buying an additional 90,255 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in AT&T by 4.3% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 1,037,529 shares of the technology company’s stock valued at $19,827,000 after buying an additional 43,062 shares in the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Stock Performance

Shares of NYSE T opened at $22.34 on Friday. The company’s fifty day moving average price is $21.70 and its 200 day moving average price is $19.52. AT&T Inc. has a 1 year low of $15.46 and a 1 year high of $22.73. The company has a market capitalization of $160.30 billion, a PE ratio of 18.16, a price-to-earnings-growth ratio of 3.35 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The company had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the prior year, the business posted $0.64 earnings per share. On average, research analysts predict 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 was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.97%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s dividend payout ratio is presently 90.24%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on T shares. Evercore ISI boosted their price target on shares of AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a report on Thursday, October 24th. Moffett Nathanson boosted their price target on shares of AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Redburn Atlantic upgraded shares of AT&T to a “strong sell” rating in a report on Monday, September 16th. Wells Fargo & Company reduced their price target on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Finally, JPMorgan Chase & Co. boosted their price target on shares of AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, AT&T currently has an average rating of “Moderate Buy” and a consensus target price of $23.40.

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.