Private Wealth Advisors LLC Sells 2,846 Shares of AT&T Inc. (NYSE:T)

Private Wealth Advisors LLC decreased its position in AT&T Inc. (NYSE:T) by 1.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 167,415 shares of the technology company’s stock after selling 2,846 shares during the quarter. AT&T makes up approximately 1.4% of Private Wealth Advisors LLC’s portfolio, making the stock its 24th largest holding. Private Wealth Advisors LLC’s holdings in AT&T were worth $3,705,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Davidson Kempner Capital Management LP bought a new stake in AT&T during the 2nd quarter valued at approximately $23,888,000. Talbot Financial LLC bought a new stake in shares of AT&T in the third quarter valued at approximately $7,438,000. Mackenzie Financial Corp boosted its position in shares of AT&T by 12.2% in the second quarter. Mackenzie Financial Corp now owns 2,641,856 shares of the technology company’s stock valued at $50,486,000 after acquiring an additional 288,093 shares during the period. DRW Securities LLC grew its stake in shares of AT&T by 642.2% in the second quarter. DRW Securities LLC now owns 104,309 shares of the technology company’s stock worth $1,997,000 after acquiring an additional 90,255 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in AT&T by 7.2% during the third quarter. Van ECK Associates Corp now owns 396,958 shares of the technology company’s stock worth $8,928,000 after acquiring an additional 26,706 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on T shares. Citigroup lifted their price objective on AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Daiwa America raised shares of AT&T to a “hold” rating in a report on Friday, July 26th. TD Cowen raised their price objective on shares of AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Oppenheimer lifted their target price on shares of AT&T from $23.00 to $24.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, Barclays increased their price target on shares of AT&T from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.40.

AT&T Trading Down 1.7 %

Shares of NYSE:T traded down $0.39 during mid-day trading on Tuesday, reaching $21.92. The stock had a trading volume of 10,993,356 shares, compared to its average volume of 35,458,105. The firm has a 50 day simple moving average of $21.75 and a two-hundred day simple moving average of $19.60. AT&T Inc. has a twelve month low of $15.51 and a twelve month high of $22.73. The firm has a market cap of $157.28 billion, a PE ratio of 17.81, a price-to-earnings-growth ratio of 3.35 and a beta of 0.59. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09.

AT&T (NYSE:T) last posted its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The firm had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. During the same period in the previous year, the company posted $0.64 earnings per share. The company’s revenue for the quarter was down .5% on a year-over-year basis. On average, research analysts predict that AT&T Inc. will post 2.22 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 5.06%. The ex-dividend date was Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

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.