Gilliland Jeter Wealth Management LLC Has $6.18 Million Holdings in AT&T Inc. (NYSE:T)

Gilliland Jeter Wealth Management LLC lowered its holdings in AT&T Inc. (NYSE:T) by 0.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 281,001 shares of the technology company’s stock after selling 581 shares during the quarter. AT&T accounts for about 2.0% of Gilliland Jeter Wealth Management LLC’s investment portfolio, making the stock its 9th biggest position. Gilliland Jeter Wealth Management LLC’s holdings in AT&T were worth $6,182,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Riggs Asset Managment Co. Inc. lifted its holdings in shares of AT&T by 356.5% during the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock valued at $27,000 after acquiring an additional 1,116 shares during the period. American Capital Advisory LLC lifted its holdings in AT&T by 107.5% during the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after purchasing an additional 807 shares during the last quarter. Altshuler Shaham Ltd acquired a new position in AT&T in the second quarter valued at about $30,000. Marquette Asset Management LLC bought a new stake in AT&T during the third quarter worth about $36,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its stake in AT&T by 176.6% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock worth $35,000 after buying an additional 1,192 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Up 0.6 %

NYSE:T opened at $21.85 on Monday. The stock’s fifty day simple moving average is $20.95 and its 200-day simple moving average is $18.98. The firm has a market capitalization of $156.67 billion, a P/E ratio of 11.75, a P/E/G ratio of 3.63 and a beta of 0.60. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. AT&T Inc. has a 12-month low of $14.74 and a 12-month high of $22.34.

AT&T (NYSE:T) last posted its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.57. The company had revenue of $29.80 billion during the quarter, compared to analyst estimates of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The company’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.63 EPS. Equities research analysts expect that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

The company also recently announced 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 annualized dividend and a yield of 5.08%. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Wells Fargo & Company boosted their target price on AT&T from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Daiwa America raised AT&T to a “hold” rating in a research note on Friday, July 26th. Oppenheimer increased their target price on AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Scotiabank cut AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, June 28th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.69.

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.