AT&T Inc. (NYSE:T) Shares Sold by GM Advisory Group LLC

GM Advisory Group LLC trimmed its holdings in AT&T Inc. (NYSE:T) by 57.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,265 shares of the technology company’s stock after selling 40,826 shares during the quarter. GM Advisory Group LLC’s holdings in AT&T were worth $666,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Allen Capital Group LLC grew its holdings in AT&T by 20.8% in the 3rd quarter. Allen Capital Group LLC now owns 20,643 shares of the technology company’s stock worth $454,000 after buying an additional 3,549 shares in the last quarter. CFS Investment Advisory Services LLC grew its holdings in AT&T by 6.1% in the 3rd quarter. CFS Investment Advisory Services LLC now owns 22,588 shares of the technology company’s stock worth $497,000 after buying an additional 1,304 shares in the last quarter. Raymond James Trust N.A. grew its holdings in AT&T by 6.5% in the 3rd quarter. Raymond James Trust N.A. now owns 470,799 shares of the technology company’s stock worth $10,358,000 after buying an additional 28,698 shares in the last quarter. Eagle Asset Management Inc. grew its holdings in AT&T by 30.6% in the 3rd quarter. Eagle Asset Management Inc. now owns 832,999 shares of the technology company’s stock worth $18,609,000 after buying an additional 195,314 shares in the last quarter. Finally, Investors Research Corp grew its holdings in AT&T by 1.6% in the 3rd quarter. Investors Research Corp now owns 76,132 shares of the technology company’s stock worth $1,675,000 after buying an additional 1,179 shares in the last quarter. 57.10% of the stock is owned by institutional investors.

AT&T Price Performance

T opened at $23.18 on Friday. The stock has a fifty day moving average of $22.02 and a 200-day moving average of $19.92. The firm has a market capitalization of $166.29 billion, a P/E ratio of 18.84, a PEG ratio of 3.45 and a beta of 0.59. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $23.29. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09.

AT&T (NYSE:T) last released its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (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 analyst estimates of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The company’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. Equities analysts forecast 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 was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were issued a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.79%. AT&T’s payout ratio is currently 90.24%.

Analyst Ratings Changes

A number of equities analysts have issued reports on T shares. Daiwa America raised AT&T to a “hold” rating in a research note on Friday, July 26th. Oppenheimer increased their price target on AT&T from $23.00 to $24.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Citigroup increased their price target on AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Evercore ISI increased their price target on AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research note on Thursday, October 24th. Finally, Moffett Nathanson increased their price target on AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $23.40.

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.