Traphagen Investment Advisors LLC Trims Position in AT&T Inc. (NYSE:T)

Traphagen Investment Advisors LLC cut its stake in shares of AT&T Inc. (NYSE:T) by 2.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,530 shares of the technology company’s stock after selling 612 shares during the period. Traphagen Investment Advisors LLC’s holdings in AT&T were worth $584,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hayek Kallen Investment Management boosted its holdings in AT&T by 0.8% during the 3rd quarter. Hayek Kallen Investment Management now owns 60,271 shares of the technology company’s stock valued at $1,326,000 after acquiring an additional 500 shares during the period. Octavia Wealth Advisors LLC boosted its stake in shares of AT&T by 2.1% during the second quarter. Octavia Wealth Advisors LLC now owns 25,313 shares of the technology company’s stock valued at $484,000 after purchasing an additional 519 shares during the period. Carolinas Wealth Consulting LLC grew its holdings in shares of AT&T by 2.3% in the second quarter. Carolinas Wealth Consulting LLC now owns 23,650 shares of the technology company’s stock worth $452,000 after purchasing an additional 521 shares during the last quarter. WealthCare Investment Partners LLC increased its stake in AT&T by 2.2% in the 2nd quarter. WealthCare Investment Partners LLC now owns 24,138 shares of the technology company’s stock worth $461,000 after buying an additional 525 shares during the period. Finally, Little House Capital LLC lifted its holdings in AT&T by 4.8% during the 3rd quarter. Little House Capital LLC now owns 11,619 shares of the technology company’s stock valued at $256,000 after buying an additional 537 shares in the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Price Performance

AT&T stock traded down $0.22 during trading on Tuesday, reaching $21.44. The company had a trading volume of 12,088,910 shares, compared to its average volume of 35,393,918. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. The firm’s 50-day simple moving average is $20.99 and its 200 day simple moving average is $19.01. The firm has a market capitalization of $153.73 billion, a PE ratio of 12.32, a price-to-earnings-growth ratio of 3.73 and a beta of 0.60. AT&T Inc. has a 1-year low of $14.74 and a 1-year high of $22.34.

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 research analysts anticipate that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 5.18%. The ex-dividend date of this dividend is Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is 63.79%.

Analysts Set New Price Targets

T has been the subject of several research reports. Scotiabank cut AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. Moffett Nathanson boosted their price target on shares of AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Daiwa America upgraded shares of AT&T to a “hold” rating in a research note on Friday, July 26th. Finally, Barclays boosted their price objective on shares of AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, AT&T has an average rating of “Moderate Buy” and a consensus target price 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.