Financial Advisors LLC Sells 2,503 Shares of AT&T Inc. (NYSE:T)

Financial Advisors LLC lowered its holdings in AT&T Inc. (NYSE:T) by 12.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,468 shares of the technology company’s stock after selling 2,503 shares during the period. Financial Advisors LLC’s holdings in AT&T were worth $293,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Carmel Capital Partners LLC raised its position in AT&T by 16,250.0% during the third quarter. Carmel Capital Partners LLC now owns 1,635 shares of the technology company’s stock valued at $25,000 after purchasing an additional 1,625 shares in the last quarter. Lipe & Dalton purchased a new stake in AT&T in the third quarter worth approximately $30,000. Ramirez Asset Management Inc. bought a new position in AT&T during the third quarter valued at approximately $30,000. Farmers & Merchants Trust Co of Chambersburg PA raised its stake in shares of AT&T by 35.3% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock worth $39,000 after acquiring an additional 606 shares in the last quarter. Finally, Morton Brown Family Wealth LLC lifted its holdings in shares of AT&T by 588.2% in the 4th quarter. Morton Brown Family Wealth LLC now owns 2,622 shares of the technology company’s stock worth $44,000 after acquiring an additional 2,241 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on T shares. Wolfe Research raised shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a report on Tuesday, March 5th. TheStreet upgraded AT&T from a “c” rating to a “b-” rating in a research report on Wednesday, January 24th. Citigroup upped their target price on AT&T from $19.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, February 1st. JPMorgan Chase & Co. raised shares of AT&T from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $18.00 to $21.00 in a research report on Thursday, February 1st. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of AT&T from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $20.81.

AT&T Price Performance

Shares of T traded up $0.17 during trading hours on Friday, reaching $16.75. 37,852,681 shares of the stock traded hands, compared to its average volume of 39,190,348. The company has a market cap of $119.81 billion, a P/E ratio of 9.01, a price-to-earnings-growth ratio of 2.53 and a beta of 0.57. The company has a current ratio of 0.68, a quick ratio of 0.67 and a debt-to-equity ratio of 1.06. The company’s 50-day moving average price is $16.96 and its two-hundred day moving average price is $16.57. AT&T Inc. has a 52-week low of $13.43 and a 52-week high of $18.16.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.53 by $0.02. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The business had revenue of $30.03 billion during the quarter, compared to analyst estimates of $30.62 billion. During the same quarter last year, the business earned $0.60 earnings per share. AT&T’s quarterly revenue was down .4% compared to the same quarter last year. On average, analysts anticipate that AT&T Inc. will post 2.22 earnings per share for the current year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be given a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 6.63%. The ex-dividend date of this dividend is Tuesday, April 9th. AT&T’s payout ratio is 59.68%.

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.