Triad Wealth Partners LLC Lowers Position in AT&T Inc. (NYSE:T)

Triad Wealth Partners LLC cut its stake in shares of AT&T Inc. (NYSE:T) by 10.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,485 shares of the technology company’s stock after selling 1,209 shares during the period. Triad Wealth Partners LLC’s holdings in AT&T were worth $231,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Bellecapital International Ltd. lifted its position in shares of AT&T by 7.9% in the third quarter. Bellecapital International Ltd. now owns 83,246 shares of the technology company’s stock valued at $1,831,000 after acquiring an additional 6,127 shares in the last quarter. Godsey & Gibb Inc. lifted its position in shares of AT&T by 0.5% in the third quarter. Godsey & Gibb Inc. now owns 1,071,514 shares of the technology company’s stock valued at $23,573,000 after acquiring an additional 4,880 shares in the last quarter. Vest Financial LLC lifted its position in shares of AT&T by 72.5% in the third quarter. Vest Financial LLC now owns 67,045 shares of the technology company’s stock valued at $1,475,000 after acquiring an additional 28,180 shares in the last quarter. OLD National Bancorp IN lifted its position in shares of AT&T by 2.2% in the third quarter. OLD National Bancorp IN now owns 1,791,529 shares of the technology company’s stock valued at $39,414,000 after acquiring an additional 37,800 shares in the last quarter. Finally, Cyndeo Wealth Partners LLC lifted its position in shares of AT&T by 39.7% in the third quarter. Cyndeo Wealth Partners LLC now owns 45,109 shares of the technology company’s stock valued at $992,000 after acquiring an additional 12,825 shares in the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

T has been the topic of several research analyst reports. Wells Fargo & Company boosted their target price on AT&T from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Redburn Atlantic raised AT&T to a “strong sell” rating in a research note on Monday, September 16th. Hsbc Global Res raised AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Oppenheimer upped their target price on AT&T from $21.00 to $23.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, Evercore ISI upped their target price on AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.69.

AT&T Price Performance

AT&T stock traded down $0.02 during midday trading on Monday, reaching $21.83. The company had a trading volume of 10,084,237 shares, compared to its average volume of 35,407,840. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. AT&T Inc. has a 12-month low of $14.74 and a 12-month high of $22.34. The company has a market capitalization of $156.52 billion, a P/E ratio of 11.71, a P/E/G ratio of 3.63 and a beta of 0.60. The firm’s fifty day simple moving average is $20.95 and its 200-day simple moving average is $18.98.

AT&T (NYSE:T) last posted 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. The company had revenue of $29.80 billion for the quarter, compared to analysts’ expectations of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. AT&T’s revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.63 EPS. As a group, equities analysts anticipate that AT&T Inc. will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The business also recently announced 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 annualized dividend and a dividend yield of 5.08%. The ex-dividend date is Thursday, October 10th. AT&T’s dividend payout ratio is currently 59.68%.

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.