Horrell Capital Management Inc. Sells 2,980 Shares of AT&T Inc. (NYSE:T)

Horrell Capital Management Inc. cut its position in shares of AT&T Inc. (NYSE:T) by 9.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,581 shares of the technology company’s stock after selling 2,980 shares during the quarter. Horrell Capital Management Inc.’s holdings in AT&T were worth $607,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in T. Hayek Kallen Investment Management lifted its stake in shares of AT&T by 0.8% in the third quarter. Hayek Kallen Investment Management now owns 60,271 shares of the technology company’s stock worth $1,326,000 after buying an additional 500 shares in the last quarter. Lake Street Advisors Group LLC grew its holdings in shares of AT&T by 0.7% in the third quarter. Lake Street Advisors Group LLC now owns 73,562 shares of the technology company’s stock valued at $1,618,000 after purchasing an additional 513 shares in the last quarter. Octavia Wealth Advisors LLC grew its holdings in shares of AT&T by 2.1% in the second quarter. Octavia Wealth Advisors LLC now owns 25,313 shares of the technology company’s stock valued at $484,000 after purchasing an additional 519 shares in the last quarter. Carolinas Wealth Consulting LLC grew its holdings in shares of AT&T by 2.3% in the second quarter. Carolinas Wealth Consulting LLC now owns 23,650 shares of the technology company’s stock valued at $452,000 after purchasing an additional 521 shares in the last quarter. Finally, WealthCare Investment Partners LLC grew its holdings in AT&T by 2.2% during the 2nd quarter. WealthCare Investment Partners LLC now owns 24,138 shares of the technology company’s stock worth $461,000 after acquiring an additional 525 shares in the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on T shares. 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 research report on Thursday, October 24th. The Goldman Sachs Group started coverage on shares of AT&T in a research report on Monday, July 1st. They issued a “buy” rating and a $22.00 target price on the stock. Redburn Atlantic upgraded shares of AT&T to a “strong sell” rating in a research note on Monday, September 16th. Scotiabank lowered shares of AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Finally, Citigroup upped their price objective on shares of AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $23.40.

AT&T Trading Up 0.8 %

Shares of AT&T stock traded up $0.18 on Tuesday, hitting $22.29. 11,765,476 shares of the company’s stock traded hands, compared to its average volume of 35,556,035. The company has a fifty day moving average of $21.26 and a two-hundred day moving average of $19.19. The company has a market capitalization of $159.82 billion, a price-to-earnings ratio of 18.05, a price-to-earnings-growth ratio of 3.74 and a beta of 0.60. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. AT&T Inc. has a one year low of $14.91 and a one year high of $22.58.

AT&T (NYSE:T) last announced its quarterly earnings data 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 firm had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The business’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 EPS. As a group, sell-side analysts expect that AT&T Inc. will post 2.21 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be paid a $0.2775 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.98%. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

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.