Whitebox Advisors LLC Sells 92,134 Shares of AT&T Inc. (NYSE:T)

Whitebox Advisors LLC cut its stake in AT&T Inc. (NYSE:T) by 62.3% in the 3rd quarter, Holdings Channel.com reports. The fund owned 55,713 shares of the technology company’s stock after selling 92,134 shares during the quarter. Whitebox Advisors LLC’s holdings in AT&T were worth $1,226,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Ritter Daniher Financial Advisory LLC DE boosted its position in shares of AT&T by 169.2% during the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after acquiring an additional 841 shares in the last quarter. Riggs Asset Managment Co. Inc. boosted its holdings in shares of AT&T by 356.5% in the 2nd 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 stake in shares of AT&T by 107.5% in 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. Safe Harbor Fiduciary LLC acquired a new position in shares of AT&T during the 3rd quarter worth $35,000. Finally, Reston Wealth Management LLC acquired a new position in shares of AT&T during the 3rd quarter worth $35,000. 57.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Evercore ISI lifted their target price on AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research report on Thursday, October 24th. Wells Fargo & Company decreased their price target on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. JPMorgan Chase & Co. increased their price objective on shares of AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Wednesday. Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Finally, Oppenheimer upped their price target on shares of AT&T from $24.00 to $27.00 and gave the stock an “outperform” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.73.

AT&T Stock Up 1.3 %

AT&T stock opened at $23.83 on Friday. The firm has a 50 day moving average price of $22.32 and a two-hundred day moving average price of $20.30. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $24.03. The firm has a market cap of $170.99 billion, a price-to-earnings ratio of 19.37, a PEG ratio of 3.56 and a beta of 0.59.

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

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were issued a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.66%. AT&T’s payout ratio is currently 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.