Sard Wealth Management Group LLC Cuts Stake in AT&T Inc. (NYSE:T)

Sard Wealth Management Group LLC lessened its stake in shares of AT&T Inc. (NYSE:T) by 17.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,326 shares of the technology company’s stock after selling 3,559 shares during the period. Sard Wealth Management Group LLC’s holdings in AT&T were worth $359,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in T. Vanguard Group Inc. lifted its position 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 buying an additional 2,588,539 shares during the last quarter. Bank of New York Mellon Corp raised its stake in 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 acquiring an additional 5,592,123 shares during the period. Legal & General Group Plc lifted its holdings in AT&T by 2.7% during the second quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company’s stock valued at $1,148,689,000 after purchasing an additional 1,569,374 shares during the last quarter. Ameriprise Financial Inc. boosted its position in AT&T by 2.0% during the second 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 increased its stake in shares of AT&T by 1.1% in the second 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 in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Price Performance

NYSE T traded up $0.17 on Friday, reaching $21.90. 5,907,021 shares of the company’s stock traded hands, compared to its average volume of 35,426,668. The stock has a market cap of $157.03 billion, a PE ratio of 11.69, a P/E/G ratio of 3.63 and a beta of 0.60. AT&T Inc. has a 12 month low of $14.74 and a 12 month high of $22.34. The stock has a 50-day simple moving average of $20.90 and a 200 day simple moving average of $18.93. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66.

AT&T (NYSE:T) last issued its earnings results on Wednesday, July 24th. The technology company reported $0.57 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 company had revenue of $29.80 billion for the quarter, compared to analysts’ expectations of $30.05 billion. During the same quarter last year, the company earned $0.63 EPS. The firm’s revenue was down .3% compared to the same quarter last year. As a group, 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 declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be given a dividend of $0.2775 per share. The ex-dividend date is Thursday, October 10th. This represents a $1.11 annualized dividend and a yield of 5.07%. AT&T’s payout ratio is 59.68%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Redburn Atlantic upgraded shares of AT&T to a “strong sell” rating in a research note on Monday, September 16th. Tigress Financial increased their target price on AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. JPMorgan Chase & Co. lifted their price target on AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Royal Bank of Canada increased their price objective on AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a report on Thursday, July 25th. Finally, Evercore ISI raised their target price on AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a research note on Thursday, July 25th. One 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 issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.69.

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.