AT&T Inc. $T Shares Sold by Kovack Advisors Inc.

Kovack Advisors Inc. cut its holdings in shares of AT&T Inc. (NYSE:T) by 10.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 121,470 shares of the technology company’s stock after selling 14,580 shares during the quarter. Kovack Advisors Inc.’s holdings in AT&T were worth $3,515,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Brighton Jones LLC lifted its position in AT&T by 26.5% during the fourth quarter. Brighton Jones LLC now owns 48,579 shares of the technology company’s stock valued at $1,106,000 after purchasing an additional 10,188 shares during the period. Golden State Wealth Management LLC lifted its position in AT&T by 74.9% during the first quarter. Golden State Wealth Management LLC now owns 7,341 shares of the technology company’s stock valued at $208,000 after purchasing an additional 3,143 shares during the period. Keybank National Association OH lifted its position in AT&T by 0.7% during the first quarter. Keybank National Association OH now owns 1,151,415 shares of the technology company’s stock valued at $32,562,000 after purchasing an additional 8,195 shares during the period. Pinnacle Financial Partners Inc lifted its position in AT&T by 9.8% during the first quarter. Pinnacle Financial Partners Inc now owns 85,406 shares of the technology company’s stock valued at $2,356,000 after purchasing an additional 7,598 shares during the period. Finally, Private Trust Co. NA lifted its position in AT&T by 2.9% during the first quarter. Private Trust Co. NA now owns 63,810 shares of the technology company’s stock valued at $1,805,000 after purchasing an additional 1,777 shares during the period. 57.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on T shares. Raymond James Financial restated a “strong-buy” rating and set a $33.00 target price (up from $31.00) on shares of AT&T in a research report on Thursday, September 18th. HSBC lowered shares of AT&T from a “buy” rating to a “hold” rating and set a $30.00 target price for the company. in a report on Thursday, July 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of AT&T in a report on Wednesday, October 8th. Bank of America began coverage on shares of AT&T in a report on Monday, July 7th. They set a “buy” rating and a $32.00 target price for the company. Finally, Scotiabank set a $30.25 target price on shares of AT&T and gave the company a “sector perform” rating in a report on Monday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, AT&T currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.67.

AT&T Stock Down 1.9%

T stock opened at $24.66 on Friday. The stock has a market capitalization of $176.35 billion, a P/E ratio of 8.01, a P/E/G ratio of 2.16 and a beta of 0.42. The firm has a 50-day simple moving average of $27.65 and a 200-day simple moving average of $27.72. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 1.01. AT&T Inc. has a 52 week low of $21.38 and a 52 week high of $29.79.

AT&T (NYSE:T) last released its earnings results on Wednesday, October 22nd. The technology company reported $0.54 EPS for the quarter, hitting analysts’ consensus estimates of $0.54. The business had revenue of $30.71 billion during the quarter, compared to analysts’ expectations of $30.85 billion. AT&T had a net margin of 17.87% and a return on equity of 12.72%. The company’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.60 earnings per share. Equities analysts forecast that AT&T Inc. will post 2.14 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be paid a dividend of $0.2775 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.5%. AT&T’s payout ratio is currently 36.04%.

AT&T Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.