Ascent Group LLC Sells 2,243 Shares of AT&T Inc. (NYSE:T)

Ascent Group LLC trimmed its position in shares of AT&T Inc. (NYSE:T) by 1.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 125,979 shares of the technology company’s stock after selling 2,243 shares during the period. Ascent Group LLC’s holdings in AT&T were worth $2,772,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Ritter Daniher Financial Advisory LLC DE raised its stake in AT&T by 169.2% in the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after buying an additional 841 shares in the last quarter. Riggs Asset Managment Co. Inc. raised its stake in AT&T by 356.5% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after buying an additional 1,116 shares in the last quarter. American Capital Advisory LLC raised its stake in AT&T by 107.5% in the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock worth $30,000 after buying an additional 807 shares in the last quarter. Reston Wealth Management LLC bought a new position in AT&T in the third quarter worth about $35,000. Finally, Altshuler Shaham Ltd bought a new position in AT&T in the second quarter worth about $30,000. 57.10% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a research note on Monday, September 16th. Citigroup raised their target price on shares of AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Scotiabank downgraded shares of AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Finally, Moffett Nathanson raised their target price on shares of AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $23.53.

AT&T Trading Down 2.0 %

Shares of T stock opened at $22.70 on Tuesday. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $23.38. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The firm’s 50 day moving average is $22.17 and its 200 day moving average is $20.17. The stock has a market capitalization of $162.88 billion, a P/E ratio of 18.46, a P/E/G ratio of 3.48 and a beta of 0.59.

AT&T (NYSE:T) last issued its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping 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 company had revenue of $30.20 billion for the quarter, compared to analysts’ expectations of $30.50 billion. During the same quarter last year, the company posted $0.64 earnings per share. The firm’s quarterly revenue was down .5% on a year-over-year basis. Research analysts expect that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Dividend Announcement

The business 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. This represents a $1.11 annualized dividend and a yield of 4.89%. The ex-dividend date was Thursday, October 10th. AT&T’s dividend payout ratio is currently 90.24%.

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.