Arbor Wealth Advisors LLC Decreases Stock Holdings in AT&T Inc. (NYSE:T)

Arbor Wealth Advisors LLC cut its stake in AT&T Inc. (NYSE:T) by 3.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,631 shares of the technology company’s stock after selling 558 shares during the period. Arbor Wealth Advisors LLC’s holdings in AT&T were worth $344,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of AT&T in the 3rd quarter worth about $1,233,000. Freestate Advisors LLC acquired a new position in AT&T during the third quarter worth about $408,000. Ferguson Shapiro LLC lifted its holdings in shares of AT&T by 108.2% in the third quarter. Ferguson Shapiro LLC now owns 22,404 shares of the technology company’s stock valued at $493,000 after purchasing an additional 11,643 shares in the last quarter. Towerpoint Wealth LLC acquired a new stake in shares of AT&T in the third quarter valued at approximately $216,000. Finally, San Luis Wealth Advisors LLC increased its stake in shares of AT&T by 9.5% during the 3rd quarter. San Luis Wealth Advisors LLC now owns 46,809 shares of the technology company’s stock worth $1,030,000 after purchasing an additional 4,066 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on T shares. Evercore ISI increased their target price on AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft lifted their price objective on AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. The Goldman Sachs Group started coverage on shares of AT&T in a report on Monday, July 1st. They issued a “buy” rating and a $22.00 target price on the stock. Daiwa America upgraded shares of AT&T to a “hold” rating in a report on Friday, July 26th. Finally, TD Cowen upped their price objective on shares of AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, nine have given 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.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $22.38.

AT&T Stock Up 0.7 %

T opened at $21.38 on Friday. AT&T Inc. has a 1 year low of $14.23 and a 1 year high of $22.34. The firm has a 50 day moving average price of $20.71 and a 200 day moving average price of $18.82. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. The company has a market cap of $153.26 billion, a PE ratio of 12.28, a price-to-earnings-growth ratio of 3.74 and a beta of 0.60.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The company had revenue of $29.80 billion during the quarter, compared to analyst estimates of $30.05 billion. During the same quarter in the prior year, the business earned $0.63 earnings per share. The business’s quarterly revenue was down .3% compared to the same quarter last year. Sell-side analysts expect that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 5.19%. The ex-dividend date of this dividend is Thursday, October 10th. AT&T’s dividend payout ratio is presently 63.79%.

AT&T Company 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.