AT&T Inc. (NYSE:T) Shares Sold by Advisors Management Group Inc. ADV

Advisors Management Group Inc. ADV cut its stake in shares of AT&T Inc. (NYSE:T) by 1.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 396,746 shares of the technology company’s stock after selling 3,812 shares during the quarter. AT&T comprises approximately 2.1% of Advisors Management Group Inc. ADV’s investment portfolio, making the stock its 14th biggest holding. Advisors Management Group Inc. ADV’s holdings in AT&T were worth $8,728,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of T. Central Pacific Bank Trust Division purchased a new position in AT&T during the first quarter worth about $165,000. Mediolanum International Funds Ltd purchased a new stake in shares of AT&T during the first quarter worth approximately $1,294,000. SPC Financial Inc. boosted its holdings in AT&T by 9.2% in the 1st quarter. SPC Financial Inc. now owns 21,415 shares of the technology company’s stock valued at $377,000 after purchasing an additional 1,806 shares in the last quarter. Duality Advisers LP grew its position in AT&T by 119.3% during the first quarter. Duality Advisers LP now owns 80,525 shares of the technology company’s stock worth $1,417,000 after buying an additional 43,800 shares during the period. Finally, Empirical Finance LLC increased its holdings in AT&T by 3.5% during the 1st quarter. Empirical Finance LLC now owns 256,956 shares of the technology company’s stock valued at $4,522,000 after acquiring an additional 8,747 shares in the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

AT&T Stock Performance

Shares of T opened at $22.32 on Thursday. AT&T Inc. has a 12-month low of $15.46 and a 12-month high of $22.73. The stock has a market capitalization of $160.15 billion, a P/E ratio of 18.15, a P/E/G ratio of 3.29 and a beta of 0.59. The firm’s 50 day moving average is $21.61 and its 200-day moving average is $19.46. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67.

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

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were issued a $0.2775 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.11 annualized dividend and a yield of 4.97%. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Moffett Nathanson increased their target price on AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Hsbc Global Res upgraded AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. Evercore ISI increased their price objective on shares of AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a report on Thursday, October 24th. Barclays boosted their target price on shares of AT&T from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Finally, Citigroup raised their price target on shares of AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $23.40.

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.