Beacon Investment Advisory Services Inc. Sells 988 Shares of AT&T Inc. (NYSE:T)

Beacon Investment Advisory Services Inc. decreased its holdings in shares of AT&T Inc. (NYSE:T) by 3.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 25,086 shares of the technology company’s stock after selling 988 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in AT&T were worth $552,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ritter Daniher Financial Advisory LLC DE increased its stake in shares of AT&T by 169.2% during the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after purchasing an additional 841 shares in the last quarter. Riggs Asset Managment Co. Inc. increased its stake 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 purchasing an additional 1,116 shares in the last quarter. American Capital Advisory LLC increased its position in shares of AT&T by 107.5% during the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after acquiring an additional 807 shares in the last quarter. Reston Wealth Management LLC bought a new stake in shares of AT&T during the third quarter valued at approximately $35,000. Finally, Altshuler Shaham Ltd bought a new stake in shares of AT&T during the second quarter valued at approximately $30,000. Institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

T has been the subject of several analyst reports. Barclays raised their price target on shares of AT&T from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Oppenheimer raised their price target 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. Tigress Financial raised their price target on shares of AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. Finally, Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a research report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $23.53.

AT&T Trading Down 2.0 %

Shares of AT&T stock opened at $22.70 on Tuesday. The company’s fifty day simple moving average is $22.17 and its 200-day simple moving average is $20.17. The stock has a market capitalization of $162.88 billion, a PE ratio of 18.46, a P/E/G ratio of 3.48 and a beta of 0.59. AT&T Inc. has a 1-year low of $15.94 and a 1-year high of $23.38. 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 (NYSE:T) last issued its quarterly 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. The business had revenue of $30.20 billion for the quarter, compared to analysts’ expectations of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The company’s revenue was down .5% compared to the same quarter last year. During the same quarter last year, the company posted $0.64 EPS. As a group, equities analysts anticipate that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.89%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s dividend payout ratio 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.