Strait & Sound Wealth Management LLC Reduces Stock Position in AT&T Inc. (NYSE:T)

Strait & Sound Wealth Management LLC trimmed its stake in shares of AT&T Inc. (NYSE:TFree Report) by 40.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,000 shares of the technology company’s stock after selling 7,500 shares during the period. Strait & Sound Wealth Management LLC’s holdings in AT&T were worth $242,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Geode Capital Management LLC boosted its stake in shares of AT&T by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock worth $3,532,684,000 after acquiring an additional 3,630,972 shares during the last quarter. MidWestOne Financial Group Inc. raised its holdings in AT&T by 1.6% in the 3rd quarter. MidWestOne Financial Group Inc. now owns 229,386 shares of the technology company’s stock worth $5,046,000 after purchasing an additional 3,703 shares during the period. Prestige Wealth Management Group LLC lifted its position in AT&T by 2.4% during the third quarter. Prestige Wealth Management Group LLC now owns 46,641 shares of the technology company’s stock valued at $1,026,000 after purchasing an additional 1,072 shares in the last quarter. Brophy Wealth Management LLC bought a new stake in AT&T during the third quarter valued at about $399,000. Finally, Vestcor Inc increased its position in AT&T by 14.7% in the third quarter. Vestcor Inc now owns 786,772 shares of the technology company’s stock worth $17,309,000 after buying an additional 101,087 shares in the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Stock Down 2.1 %

Shares of NYSE T opened at $23.38 on Tuesday. The stock has a market capitalization of $167.76 billion, a price-to-earnings ratio of 19.01, a P/E/G ratio of 3.63 and a beta of 0.59. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $24.03. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The firm’s 50-day moving average price is $22.39 and its 200-day moving average price is $20.43.

AT&T (NYSE:TGet Free Report) last announced its earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The firm had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The company’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.64 EPS. On average, equities research analysts anticipate that AT&T Inc. will post 2.19 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.75%. The ex-dividend date was Thursday, October 10th. AT&T’s dividend payout ratio is currently 90.24%.

Analyst Upgrades and Downgrades

T has been the topic of a number of analyst reports. Oppenheimer lifted their price objective on AT&T from $24.00 to $27.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Evercore ISI upped their price target on shares of AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research report on Thursday, October 24th. Moffett Nathanson lifted their target price on shares of AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. Citigroup increased their price target on AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, Barclays boosted their price objective on AT&T from $24.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $24.73.

Read Our Latest Stock Analysis on T

AT&T Profile

(Free Report)

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.

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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