Lucia Wealth Services LLC decreased its position in AT&T Inc. (NYSE:T) by 37.2% in the third quarter, Holdings Channel reports. The firm owned 1,894 shares of the technology company’s stock after selling 1,122 shares during the period. Lucia Wealth Services LLC’s holdings in AT&T were worth $54,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in T. Heron Financial Group LLC grew its position in AT&T by 4.8% during the second quarter. Heron Financial Group LLC now owns 20,856 shares of the technology company’s stock valued at $628,000 after purchasing an additional 957 shares in the last quarter. Strategic Wealth Management Group LLC boosted its stake in AT&T by 5.5% during the second quarter. Strategic Wealth Management Group LLC now owns 17,183 shares of the technology company’s stock valued at $519,000 after buying an additional 898 shares during the last quarter. Apella Capital LLC boosted its stake in AT&T by 4.1% during the second quarter. Apella Capital LLC now owns 12,828 shares of the technology company’s stock valued at $388,000 after buying an additional 508 shares during the last quarter. Symmetry Partners LLC boosted its stake in AT&T by 7.8% during the second quarter. Symmetry Partners LLC now owns 86,740 shares of the technology company’s stock valued at $2,622,000 after buying an additional 6,277 shares during the last quarter. Finally, Stanley Laman Group Ltd. bought a new position in AT&T during the second quarter valued at approximately $1,512,000. Hedge funds and other institutional investors own 52.29% of the company’s stock.
A number of equities analysts recently commented on the company. Wells Fargo & Company reissued an “underweight” rating and set a $25.00 price target on shares of AT&T in a research note on Monday. Scotiabank lowered AT&T from a “sector perform” rating to a “sector underperform” rating and dropped their price target for the company from $34.00 to $30.00 in a research note on Monday, August 31st. Barclays assumed coverage on AT&T in a research note on Friday, October 2nd. They set an “overweight” rating for the company. National Bank Financial raised AT&T to an “outperform” rating and increased their price target for the company from $25.00 to $27.00 in a research note on Monday, November 9th. Finally, Oppenheimer reissued a “buy” rating and set a $38.00 price target on shares of AT&T in a research note on Thursday, October 1st. Seven research analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have assigned a buy rating to the company’s stock. AT&T presently has a consensus rating of “Hold” and an average price target of $32.40.
Shares of NYSE T traded down $0.16 during midday trading on Tuesday, hitting $28.81. The company’s stock had a trading volume of 132,648 shares, compared to its average volume of 39,679,848. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.79. The business’s 50 day moving average is $27.88 and its two-hundred day moving average is $29.39. AT&T Inc. has a 12-month low of $26.08 and a 12-month high of $39.70. The firm has a market cap of $206.44 billion, a P/E ratio of 17.77, a price-to-earnings-growth ratio of 1.52 and a beta of 0.69.
AT&T (NYSE:T) last announced its quarterly earnings data on Thursday, October 22nd. The technology company reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.01). AT&T had a return on equity of 13.03% and a net margin of 6.84%. The firm had revenue of $42.43 billion during the quarter, compared to the consensus estimate of $41.66 billion. During the same period last year, the company earned $0.94 EPS. The firm’s revenue for the quarter was down 4.8% compared to the same quarter last year. On average, analysts predict that AT&T Inc. will post 3.2 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, November 2nd. Investors of record on Monday, October 12th were paid a $0.52 dividend. The ex-dividend date was Thursday, October 8th. This represents a $2.08 annualized dividend and a yield of 7.22%. AT&T’s dividend payout ratio (DPR) is currently 58.26%.
AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.
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