Mattern Wealth Management LLC Has $611,000 Holdings in AT&T Inc. (NYSE:T)

Mattern Wealth Management LLC lowered its position in shares of AT&T Inc. (NYSE:T) by 4.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,751 shares of the technology company’s stock after selling 1,173 shares during the quarter. Mattern Wealth Management LLC’s holdings in AT&T were worth $611,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Davidson Kempner Capital Management LP bought a new position in shares of AT&T in the second quarter valued at about $23,888,000. Talbot Financial LLC bought a new stake in shares of AT&T during the third quarter worth approximately $7,438,000. Mackenzie Financial Corp grew its position in shares of AT&T by 12.2% in the second quarter. Mackenzie Financial Corp now owns 2,641,856 shares of the technology company’s stock valued at $50,486,000 after purchasing an additional 288,093 shares during the last quarter. DRW Securities LLC increased its stake in shares of AT&T by 642.2% during the second quarter. DRW Securities LLC now owns 104,309 shares of the technology company’s stock worth $1,997,000 after purchasing an additional 90,255 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in AT&T by 4.3% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 1,037,529 shares of the technology company’s stock worth $19,827,000 after purchasing an additional 43,062 shares during the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Trading Down 0.5 %

Shares of NYSE:T traded down $0.11 during mid-day trading on Tuesday, reaching $21.55. 17,215,004 shares of the company’s stock were exchanged, compared to its average volume of 35,419,047. The firm has a market capitalization of $154.52 billion, a price-to-earnings ratio of 12.32, a PEG ratio of 3.73 and a beta of 0.60. AT&T Inc. has a twelve month low of $14.74 and a twelve month high of $22.34. The business’s fifty day moving average price is $20.99 and its 200-day moving average price is $19.01. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70.

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

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 5.15%. The ex-dividend date of this dividend is Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is presently 63.79%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on T shares. JPMorgan Chase & Co. lifted their price target on shares of AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Wells Fargo & Company upped their target price on AT&T from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Daiwa America upgraded AT&T to a “hold” rating in a research report on Friday, July 26th. Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a research report on Monday, September 16th. Finally, Oppenheimer raised their target price on shares of AT&T from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, nine have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $22.69.

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.