Avaii Wealth Management LLC Trims Stake in AT&T Inc. (NYSE:T)

Avaii Wealth Management LLC trimmed its position in AT&T Inc. (NYSE:T) by 9.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 14,533 shares of the technology company’s stock after selling 1,552 shares during the period. Avaii Wealth Management LLC’s holdings in AT&T were worth $320,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. One Wealth Advisors LLC purchased a new stake in shares of AT&T during the third quarter worth approximately $349,000. Hengehold Capital Management LLC purchased a new stake in shares of AT&T during the third quarter worth approximately $276,000. ZWJ Investment Counsel Inc. increased its stake in shares of AT&T by 2.6% during the third quarter. ZWJ Investment Counsel Inc. now owns 1,330,832 shares of the technology company’s stock worth $29,278,000 after buying an additional 33,170 shares during the period. FLC Capital Advisors increased its stake in AT&T by 11.2% in the third quarter. FLC Capital Advisors now owns 27,169 shares of the technology company’s stock valued at $598,000 after purchasing an additional 2,735 shares during the last quarter. Finally, Culbertson A N & Co. Inc. grew its position in shares of AT&T by 33.2% during the third quarter. Culbertson A N & Co. Inc. now owns 77,388 shares of the technology company’s stock worth $1,703,000 after acquiring an additional 19,290 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. increased their price target on AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. The Goldman Sachs Group started coverage on shares of AT&T in a research report on Monday, July 1st. They issued a “buy” rating and a $22.00 price objective on the stock. Wells Fargo & Company boosted their price objective on shares of AT&T from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday. Barclays boosted their target price on shares of AT&T from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Finally, Moffett Nathanson upped their price objective 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. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.69.

AT&T Stock Performance

Shares of T stock remained flat at $21.71 during mid-day trading on Thursday. The stock had a trading volume of 6,385,955 shares, compared to its average volume of 35,485,301. AT&T Inc. has a 1 year low of $14.31 and a 1 year high of $22.34. The company has a market cap of $155.66 billion, a P/E ratio of 11.68, a PEG ratio of 3.62 and a beta of 0.60. The stock’s 50 day simple moving average is $20.86 and its two-hundred day simple moving average is $18.91. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, meeting 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 firm’s revenue for the quarter was down .3% on a year-over-year basis. On average, equities analysts anticipate that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.11%. The ex-dividend date is Thursday, October 10th. AT&T’s payout ratio is 59.68%.

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.