Clear Creek Financial Management LLC Sells 1,488 Shares of AT&T Inc. (NYSE:T)

Clear Creek Financial Management LLC lowered its holdings in AT&T Inc. (NYSE:T) by 2.0% in the third quarter, Holdings Channel reports. The firm owned 72,151 shares of the technology company’s stock after selling 1,488 shares during the quarter. Clear Creek Financial Management LLC’s holdings in AT&T were worth $1,587,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Strategic Financial Concepts LLC raised its stake in shares of AT&T by 227.6% during the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $25,000 after purchasing an additional 91,578 shares in the last quarter. Riggs Asset Managment Co. Inc. raised its position in AT&T by 356.5% during the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after acquiring an additional 1,116 shares in the last quarter. American Capital Advisory LLC raised its position in AT&T by 107.5% during the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after acquiring an additional 807 shares in the last quarter. Altshuler Shaham Ltd acquired a new stake in AT&T in the second quarter valued at $30,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its position in shares of AT&T by 176.6% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,867 shares of the technology company’s stock valued at $35,000 after acquiring an additional 1,192 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. TD Cowen raised their target price 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. Redburn Atlantic raised AT&T to a “strong sell” rating in a research report on Monday, September 16th. Daiwa America upgraded AT&T to a “hold” rating in a research note on Friday, July 26th. Citigroup increased their price target on AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Finally, Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and an average target price of $23.40.

AT&T Stock Performance

NYSE T opened at $22.12 on Friday. The firm has a 50-day moving average price of $21.47 and a two-hundred day moving average price of $19.33. AT&T Inc. has a 12-month low of $15.46 and a 12-month high of $22.73. The company has a market capitalization of $158.72 billion, a P/E ratio of 17.98, a P/E/G ratio of 3.38 and a beta of 0.59. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The business had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. During the same period in the previous year, the company posted $0.64 earnings per share. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. Analysts anticipate that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.02%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s payout ratio is currently 90.24%.

AT&T 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.