Successful Portfolios LLC Decreases Stake in AT&T Inc. (NYSE:T)

Successful Portfolios LLC cut its holdings in AT&T Inc. (NYSE:T) by 6.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,029 shares of the technology company’s stock after selling 1,410 shares during the period. Successful Portfolios LLC’s holdings in AT&T were worth $419,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of AT&T by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 624,994,998 shares of the technology company’s stock valued at $10,999,912,000 after acquiring an additional 2,588,539 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of AT&T by 7.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock worth $1,549,375,000 after purchasing an additional 5,592,123 shares during the period. Legal & General Group Plc grew its holdings in shares of AT&T by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company’s stock worth $1,148,689,000 after purchasing an additional 1,569,374 shares during the period. Ameriprise Financial Inc. grew its holdings in shares of AT&T by 2.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock worth $985,307,000 after purchasing an additional 1,007,228 shares during the period. Finally, LSV Asset Management grew its holdings in shares of AT&T by 1.1% during the 2nd quarter. LSV Asset Management now owns 30,092,610 shares of the technology company’s stock worth $575,070,000 after purchasing an additional 315,580 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

Analyst Ratings Changes

T has been the subject of a number of analyst reports. Moffett Nathanson upped their price target on AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Barclays increased their target price on AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Tigress Financial upped their price target on AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Deutsche Bank Aktiengesellschaft increased their target price on AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Finally, Redburn Atlantic raised 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 issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $22.38.

AT&T Price Performance

Shares of T stock traded up $0.14 during mid-day trading on Friday, reaching $21.36. The company’s stock had a trading volume of 5,031,289 shares, compared to its average volume of 35,595,188. AT&T Inc. has a 1-year low of $14.23 and a 1-year high of $22.34. The company has a market cap of $153.16 billion, a P/E ratio of 12.28, a PEG ratio of 3.74 and a beta of 0.60. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. The firm’s 50-day moving average is $20.67 and its two-hundred day moving average is $18.79.

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. The business 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 revenue for the quarter was down .3% on a year-over-year basis. During the same quarter last year, the company posted $0.63 EPS. 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 company 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 dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 5.20%. The ex-dividend date of this dividend is Thursday, October 10th. AT&T’s payout ratio is 63.79%.

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.