Powers Advisory Group LLC Reduces Holdings in AT&T Inc. (NYSE:T)

Powers Advisory Group LLC lessened its position in shares of AT&T Inc. (NYSE:T) by 10.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 14,190 shares of the technology company’s stock after selling 1,692 shares during the quarter. Powers Advisory Group LLC’s holdings in AT&T were worth $312,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in T. Fisher Asset Management LLC lifted its holdings in shares of AT&T by 29.4% in the 4th quarter. Fisher Asset Management LLC now owns 130,844 shares of the technology company’s stock worth $2,196,000 after acquiring an additional 29,757 shares during the last quarter. Salem Investment Counselors Inc. grew its stake in shares of AT&T by 16.9% in the first quarter. Salem Investment Counselors Inc. now owns 32,833 shares of the technology company’s stock valued at $578,000 after buying an additional 4,750 shares in the last quarter. Northwest Investment Counselors LLC acquired a new position in AT&T during the 1st quarter worth about $160,000. CHICAGO TRUST Co NA grew its position in AT&T by 1.9% in the 1st quarter. CHICAGO TRUST Co NA now owns 55,108 shares of the technology company’s stock valued at $970,000 after acquiring an additional 1,054 shares in the last quarter. Finally, AdvisorNet Financial Inc lifted its position in shares of AT&T by 12.3% during the first quarter. AdvisorNet Financial Inc now owns 20,002 shares of the technology company’s stock worth $352,000 after purchasing an additional 2,186 shares in the last quarter. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Stock Up 0.6 %

T opened at $21.85 on Friday. The business has a 50 day simple moving average of $20.95 and a 200-day simple moving average of $18.97. AT&T Inc. has a 12 month low of $14.74 and a 12 month high of $22.34. The stock has a market capitalization of $156.67 billion, a P/E ratio of 11.75, a P/E/G ratio of 3.63 and a beta of 0.60. 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 (NYSE:T) last issued its earnings results on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, hitting 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 for the quarter, compared to analyst estimates of $30.05 billion. During the same period in the previous year, the firm earned $0.63 EPS. The business’s revenue 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 fiscal year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.08%. The ex-dividend date of this dividend is Thursday, October 10th. AT&T’s dividend payout ratio is currently 59.68%.

Analyst Upgrades and Downgrades

T has been the subject of a number of research reports. Scotiabank cut shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Wells Fargo & Company upped their price objective on AT&T from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Moffett Nathanson lifted their target price on AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. TD Cowen upped their price target on AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Finally, Daiwa America upgraded AT&T to a “hold” rating in a research note on Friday, July 26th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $22.69.

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.